The Decline of Shopping Malls

Shopping malls across the U.S. are facing a significant decline, with many seeing a sharp drop in foot traffic and tenancy rates. The Berkshire Mall in Pennsylvania, once bustling during the holiday season, now has around 60% occupancy, illustrating this trend. Analysts note that American malls are oversupplied, particularly in comparison to other regions like Europe and Asia, where retail space per capita is much lower. While not all malls are expected to close, there are clear distinctions in performance between Class A, B, and C malls, leading to calls for restructuring and repurposing efforts.