The Shift To Community Retail.. Why Engagement Is The New Revenue Driver

The Shift To Community Retail.. Why Engagement Is The New Revenue Driver

In past decades, large shopping malls were the heart of commercial life in American and European suburbs. The mall was more than just a place to shop; it was a place for family gatherings, browsing the shelves, grabbing fast food, and watching movies. However, these stores are now experiencing what some describe as a "slow death." In the United States alone, more than 8,000 retail stores closed by 2025, and vacancy rates in some malls reached 40%, with projections indicating that 25% of large shopping centers will close within the next five years. Reasons for the decline: Convenience and Experience The reasons for this decline are numerous and profound. First, the rise of e-commerce has offered convenience, speed, and often lower prices. Amazon and other platforms have made clicking a button and waiting for delivery within hours a compelling alternative to a half-hour drive and searching for parking. Second, changing consumer habits have led to a preference for "experien…