Up to 25% of U.S. shopping malls may close in the next five years

Per the LA Times:

"Between 20% and 25% of the nation’s shopping malls will close in the next five years, according to a new report from Credit Suisse that predicts e-commerce will continue to pull shoppers away from bricks-and-mortar retailers.

Credit Suisse expects apparel sales to represent 35% of all e-commerce by 2030, up from 17% today. The report estimates that around 8,640 stores will close by the end of the year.

“It’s more in the 30% range,” Ron Friedman, a retail expert at accounting and advisory firm Marcum said of the share of malls that he predicts will close in the next five years. “There are a lot of malls that know they’re in big trouble.”

 

Up to 25% of U.S. shopping malls may close in the next five years, report says