Is time up for malls?
The looming demise of Intu Properties, one of the UK’s largest mall operators and developers, raises renewed questions about the future of bricks-and-mortar retail in general
Buzz words like "mall-ageddon" and "retail apocalypse" were already entrenched in the lexicon of the UK and US real estate industry before the coronavirus pandemic hit the world in March.
For years, mall owners and retailers across the globe have been grappling with changing consumer patterns as e-commerce has taken off. The upshot has been falling foot count and lower sales growth in traditional malls.