Report: 25% of U.S. malls will be gone within the next five years

COVID-19 has sounded a death knell for malls in B, C, and D markets that were struggling to survive before the pandemic struck, according to a new report from Coresight Research.

Coresight, which focuses on disruptions between physical and digital retail, predicted that up to 25,000 stores will close by the end of 2020 and that more than half of those closures will happen in malls. Within five years, this trend will spell an end for as many as 300 of the 1,200 malls currently in operation in the United States, the report said.

CSA