I HATE TO SEE THEM GO, BUT IT'S INEVITABLE – FROM 9:51 A.M. ET:   America's shopping malls are disappearing.  It's not that people aren't buying.  They're buying online.  From the L.A. Times: 

Between 20% and 25% of the nation’s shopping malls will close in the next five years, according to a new report from Credit Suisse that predicts e-commerce will continue to pull shoppers away from bricks-and-mortar retailers.

For many, the Wall Street firm’s finding may come as no surprise. Long-standing retailers are dying off as shoppers’ habits shift online. Credit Suisse expects apparel sales to represent 35% of all e-commerce by 2030, up from 17% today.

Traditional mall anchors, such as Macy’s, J.C. Penney and Sears, have announced numerous store closings in recent months. Clothiers including American Apparel, Bebe and BCBG Max Azria have filed for bankruptcy. The report estimates that around 8,640 stores will close by the end of the year.
Retail industry experts say Credit Suisse may have underestimated the scope of the upheaval.

“It’s more in the 30% range,” Ron Friedman, a retail expert at accounting and advisory firm Marcum said of the share of malls that he predicts will close in the next five years. “There are a lot of malls that know they’re in big trouble.”

COMMENT:  Others, of course, disagree, pointing to new shopping centers being built, although on a smaller scale.  But the mall problems are obvious to anyone who's noticed the empty spaces and closing sales. 

And one must tip a hat to brilliant online marketers who have done the job right, providing first-class service and lightning-fast delivery.  No parking fees, no lines at stores, no wear on the family car.  Not bad.

But I think we'll all miss some of the hands-on experience and taking home a gift for someone in the family.

June 1, 2017