LOCAL NEWS

Gephardt: The Gateway Innovates As Malls Across America Take A Financial Beating

Jul 23, 2020, 6:48 PM | Updated: 11:05 pm

SALT LAKE CITY, Utah – It’s no surprise that many brick-and-mortar stores are taking it on the teeth right now. New research shows there’s one place where merchants are taking it particularly hard: malls.

According to experts, malls are getting hit harder than most other brick and mortar stores. Last month, Coresight Research reported that retailers are projected to shutter as many as 25,000 stores this year “mostly in malls.”

“We anticipate that approximately 55 to 60 percent of all store closures will be mall-based,” Coresight Research wrote in the report, provided to KSL-TV.

And a former department store executive told CBNC that he expects “a third of America’s malls will disappear by next year.

Retailers are projected to shutter as many as 25,000 stores this year “mostly in malls.”

Brick and mortars have been losing ground to online retailers for years, but thanks to the COVID-19 pandemic, analysts have warped forward their predictions on just how soon it could mean the demise of the classic shopping mall.

Adapt Or Die

Some mall bosses in Utah are embracing the news as a challenge, and adapting.

From new stores to new art to new safety measures, managers of The Gatewall are doing everything they can to entice shoppers back. Marketing director Jacklyn Briggs said they’ve been trying to innovate since before COVID-19.

“We have started to think of ourselves as a community center,” she said. “[The Gateway has] cultural events, community events, activities going on. So we’re not strictly a place to go and shop, which a lot of malls are kind of still in that mentality.”

Briggs said many of The Gateway’s plans are soft plans, so they can be flexible and adapt to the wants and needs of shoppers – as well as health department mandates. Already, it’s spurred some unique ideas, like theater troupes performing Shakespeare in the parking garage.

For decades, malls have used big events to try and draw folks in, like photo-ops with Santa or the Easter Bunny. The Gateway is embracing smaller gathering options, like goat yoga or movies on the plaza – patrons spread out for social distancing.

“It’s kind of neat to see what could come out of this,” she said. “We’ve seen great success with opening things that you can’t find anywhere else.”

The Gateway Mall is largely outdoors, which already gives it a leg up compared to some of its competitors. Most malls bank on patrons hopping store to store through the indoor corridors, which has seemingly turned off many shoppers trying to avoid confined spaces during a global pandemic.

KSL 5 TV Live

Top Stories

Local News

...
Matt Rascon, KSL TV

Pleasant Grove tattoo artist used work to help others before her murder

A mother who police say was shot and killed by her son in Pleasant Grove Thursday night, used her artwork as a tattoo artist to help others heal from past trauma.
23 hours ago
USA Climbing competition in SLC on May 21st, 2022...
Alex Cabrero, KSL TV

World’s best climbers in SLC for competition

It's the perfect time for Salt Lake to be at the forefront of the sport’s popularity.
23 hours ago
(Davis County Sheriff's Office)...
Merri Moeller, KSL TV

Murder suspect wished he’d used sharper knife in stabbings, court docs say

A man in custody after stabbing two women including a woman he’d met on Tinder made some chilling statements about the attacks to police, court documents show.
23 hours ago
The scene of the South Jordan paraglider accident....
Michael Houck, KSL TV

Man flown to hospital in South Jordan skydiving accident

One man is in critical condition due to a skydiving accident on Saturday afternoon according to officials.
23 hours ago
SLCPD confiscated an air soft gun after reports of the suspect pointing a rifle at people. (Photo: ...
Michael Houck, KSK TV

Salt Lake City officers respond to person pointing rifle at people

Salt Lake City police responded to multiple calls of a person pointing a rifle at people Friday night, only to find it was an airsoft gun.
23 hours ago
Two men dead, three hospitalized after a North Ogden pursuit (Credit - North Ogden Police)...
Michael Houck, KSL TV

Two dead, three hospitalized after a North Ogden pursuit

Two men are dead after fleeing from a traffic stop and crashing into a tree in North Ogden Saturday morning, according to North Ogden police.
23 hours ago

Sponsored Articles

Earth day 2022...
1-800-GOT-JUNK?

How Are You Celebrating Earth Day 2022? | 4 Simple Ways to Celebrate Earth Day and Protect the Environment

Earth Day is a great time to reflect on how we can be more environmentally conscious. Here are some tips for celebrating Earth Day.
Get Money Online...

More Ways to Get Money Online Right Now in Your Spare Time

Here are 4 easy ways that you can get more money online if you have some free time and want to make a little extra on the side.
Lighting trends 2022...

Lighting Trends 2022 | 5 Beautiful Home Lighting Trends You Can Expect to See this Year and Beyond

This is where you can see the latest lighting trends for 2022 straight from the Lightovation Show at the Dallas World Trade Center.
What Can't You Throw Away in the Trash...

What Can’t You Throw Away in the Trash? | 5 Things You Shouldn’t Throw in to Your Trash Can

What can't you throw away in the trash? Believe it or not, there are actually many items that shouldn't be thrown straight into the trash.
Make Money Online Easily...

4 Ways that You Can Make Money Online Easily in Just a Few Clicks

Here are 4 ways that you can make money online easily in no time at all! Some are as simple as just a few clicks away.
tips to winterize your home...
Bonneville Digital SLC

Tips to Winterize Your Home | The Top 5 Ways You Can Prepare for the Cold Utah Winter Ahead

Before the snow hits, here are the top 5 tips to winterize your home to prepare for the cold Utah winter this year.
Gephardt: The Gateway Innovates As Malls Across America Take A Financial Beating