Retail expert warns malls will see ‘ice age’ and ‘Darwinian destruction’ if they don’t reinvent themselves
Strategic Resource Group managing director Burt Flickinger discusses the future of shopping malls in America.
Retail expert Burt Flickinger, during an interview on FOX Business’ “Mornings with Maria” Thursday, warned that shopping malls will decline, especially in high crime states like New York, New Jersey, Illinois and California.
BURT FLICKINGER: It’s going to be experiential. They’ll be gaming theaters and tournaments, they’ll be Top Golf from Callaway Golf. It will be mixed residential, retail, experiential, as you said. Full disclosure I worked for both the New York NFL’s New York Giants and New York Jets and the National Football League and the full analysis of American Dream and all the other malls around the world. And to your point, unless the malls really reinvent themselves and make themselves more attractive, especially to millennials, you’ve got an accelerated mall retail ice age and some Darwinian destruction and that that could continue, especially in the high crime states New York, New Jersey, Illinois and California.
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Strategic Resource Group managing director Burt Flickinger on his outlook for the retail industry and how crime, inflation, and supply chain issues impact consumer spending.