Wall Street Week Bloomberg Wall Street Week - December 13th, 2024
Dec 13, 2024
This week explores the decline of American shopping malls due to e-commerce's rise, investigating how they can adapt and reinvent themselves. The growing ‘silver tsunami’ reveals a pressing need for senior living facilities as the population over 80 surges. Discussions also delve into the impact of potentially eliminating the Department of Education and its effects on public schooling. Finally, the importance of mental health care and early therapy engagement is emphasized for overall wellness, especially in stressful times.
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Berkshire Mall's Decline
- The Berkshire Mall in Wyoming, Pennsylvania, was once bustling, especially during the holiday season.
- Now, it's about 60% occupied, and much of the parking lot is fenced off.
Social Shopping and Oversupply
- Shopping malls used to be important social outlets, especially for women.
- The US has significantly more retail space per capita than Europe or Asia.
Mall Decline and Survival
- The number of US malls has decreased from 2,500 in the 1980s to under 1,000 today.
- Not all malls are dying; better malls still have a place in the market.