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Shopping malls have been a part of American culture in some capacity for around a century, but they’ve been struggling in recent years.
As people have shifted their shopping habits online, many malls have closed or been converted into other uses, like fulfillment centers, housing complexes, and healthcare facilities. But this hasn’t stopped older generations from reminiscing about the bustling halls and social atmosphere or younger generations from longing for the physical shopping experience that can’t be replicated through virtual storefronts.
According to a recent study completed by IPX, a financial services firm in Chicago, “Nearly 2 in 3 (61%) Americans want to see a revival of traditional shopping malls. In fact, Gen Z and Gen X wish malls would have a revival the most, followed by Millennials and Baby Boomers.”
Gen Z is known as the first “digitally native” generation, and recent studies have shown that they have exhibited the most nostalgia for shopping malls. In IPX’s survey, 66% of Gen Z respondents said they wish traditional shopping malls would have a comeback.
According to IPX, “The top reasons Americans believe malls have closed include the rise of online shopping (78%), economic recession (46%), poor management (35%), opening of competing shopping centers (31%), and the COVID-19 pandemic (25%).”
But not all malls have closed. In fact, 94% of Americans have an open shopping mall within an hour from their homes, though 40% still wish malls would open closer to them.
“While the majority of Americans shop online, it looks like people are ready for a change and want to go back to the time when going to a mall was a frequent tradition with friends and family,” IPX noted in the study.
It seems Gen Zers in particular are clinging to these nostalgic traditions. Even though Gen Z doesn’t know what life is like without the internet, they’re still shopping in person. According to the International Council of Shopping Centers’ survey of over 1,000 16- to 26-year-olds, “Nearly the same share of respondents who shop at brick-and-mortar stores (97%) also shop online (95%).”
Many Gen Zers want to shop in malls for convenience, where they can try clothes on right away rather than waiting for online purchases to ship. It’s a form of instant gratification, which you can’t typically get online.
Others say that the mall is a great place for social activity where they can stay connected with friends and family, especially after the isolation of the pandemic. Some Gen Zers don’t even have anything in mind to buy when they go to the mall — they just want to socialize.
Going to the mall is also an immersive experience for this young generation. Not only do they get to hang out with their friends, but they can also grab some food, find new brands they haven’t heard of before, watch a movie if there’s a theater in the mall, and more. Some malls are already starting to make changes to appeal to younger shoppers, like adding virtual reality arcades, escape rooms, and bowling alleys.
The future of shopping malls may be uncertain, but it seems like there is still a demand for these spaces. With Gen Z at the forefront of the push for revival, malls may have a place in retail for years to come, especially if they are able to adapt to the changing retail landscape and offer a unique shopping experience that people can’t get online.
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