Malls Are Dying
Bruce Shawkey
East Towne Mall in the early '70s |
I even had a part-time job at J.C. Penny as a shoe salesman at the young age of 17 through a work/study program at my high school.
Around Christmas time, you could hardly find a parking place at the mall.
Today, East Towne is all but deserted, following a nation-wide trend, as noted in a recent posting on Google News:
Sadly, a trend that was once popular for millennials (and baby boomers, too!) in their adolescent years, the popularity of hanging out at the mall is nearly over. Economics writer Nelson D. Schwartz argues in “The Economics (And Nostalgia) of Dead Malls” that it’s not just changing social trends that explain the decline of malls, but also rising financial insecurity and the deafening growth of income inequality across the country.
The convenience of online shopping and, importantly, online communities has altered the social aspect of mall ventures. Income inequality has allowed high-end malls to thrive, while low and middle class-centered stores like Sears and J.C. Penney falter. Now, failing infrastructure and minimum wage workers are the only things inside a mall — and occasionally, a last minute shopper who can’t utilize Amazon Prime for a gift.
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