The nation’s shopping malls are undergoing a big shift — one that will soon be hard to miss. They’re adding a full course of sit-down restaurants where you have typically found retailers in the past.
Regional malls have been at the mercy of a struggling economy and the growing popularity of online shopping. They’re also dealing with declining foot traffic. The numbers of shoppers in stores fell about one percent in 2011, according to data research firm ShopperTrak. While ShopperTrak hasn’t issued official figures for this year, the group says so far mall traffic is still declining.
So, the malls are launching a reinvention effort. They’re coming up with new recipes to fight sluggish consumer spending, the rise of ecommerce, and slower retail store growth.
