MallEvolving consumer behavior as well as the different trends that came out throughout the years has pushed mall developers to rethink their approach in building malls. According to experts, teens are now less likely to flock into such establishments due to a shift in interest. People today are more active and prefer to do outdoor sports or yoga. The emergence of these issues has made malls built over a decade ago obsolete and irrelevant to the current generation of teens.

Teenagers and their parents from the suburbs used to go to malls almost every day of the week. In fact, the malls used to be swarming with young adolescence that just recently got out of school.  There were also times when people would wait for days outside when a new mall is set to open its doors to the public for the first time. A site, which was common in the 90,’s up to the early 2000’s.

In 1992, the Mall of America first opened its doors in Bloomington, Minnesota. It was one of the most awaited events in the day because the iconic building featured more than 300 stores and included a 4.87 million square feet of retail space, plus numerous of entertainment attractions.

Today, officials said that although the mall still draws a little less than 40 million domestic and foreign shoppers annually, such number is way off compared to its glory days since it opened. In addition to this, they also stressed that competition is highly competitive as newer and modern malls are slowly taking over the top place in the industry.

Big malls such as the Mall of America is in better shape compared to its smaller counterparts. Many retail pundits are echoing the extinction of traditional mid-tier malls. According to data, the last enclosed mall built was in 2006, which is almost a decade ago. Moreover, in a span of 5 years, 25 enclosed shopping malls have bid farewell to the public.

Christopher Zahas, managing principal at Portland, Ore.-based urban planning firm Leland Consulting Group Inc stated in an interview that, “The selling point of malls, when they were originally built and when they started to grow in the ’60s and ’70s, was a volume thing: ‘Come to the mall because we’ve got more retailers than anyone else in town. It’s one stop, 150 retailers.’ That’s not as big of a selling point anymore.” He added that, “People don’t care if there are 150 stores if they don’t want to shop at most of them.”