As generations of frustrated parents have patiently explained to their children who are begging for the latest and greatest toy or whining because they don’t have the cool new gadget, there is a difference between needing something and wanting something.
The internal forces that have buffeted the regional mall format range from changes in management style, to design and programming philosophy, and the influence of new technologies on retail behavior.
There are few more recognizably familiar structures than that stalwart American retail icon: the mall. With the rise of the automobile and the growth of suburban living in the middle of the 20th Century, malls exploded onto the retail, social and cultural landscape in a big way.
For the past couple of years, the momentum has continued to build at the annual International Council of Shopping Centers (ICSC) RECON convention in Las Vegas. When the world came to a halt in 2008, 2009 and 2010, all we were really seeing was an industry in survival mode: professionals in all corners of the market were just trying to keep their heads above water. In essence, developers were focused on playing defense and not offense.