How Online Shopping Saved Malls

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The death of the department store was supposed to mean the death of the U.S. mall.

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The U.S. mall is not dying, per Coresight Research:

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• Between 2020 and 2022, top-tier malls (Class A, indoor malls, etc.) reported an annual growth rate of 5%, and low-tier malls (strip malls) experienced a 9% annual growth rate
• Between 2019 and 2022, luxury malls saw foot traffic increase by 12%, and foot traffic at low-tier malls grew by 10%

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Strangely enough, online shopping is playing a major part in the growth of U.S. malls. Retailers' omnichannel strategy increasingly relies on brick-and-mortar locations inside malls to serve as fulfillment hubs and meet consumers' demand for personalized shopping experiences. 

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As inflation eats away at our wallets, more Americans are flocking to malls for bargains and a free place to meet their friends and family.