A recent article in Newsweek magazine poses the question: is the mall dead? The article notes that last year was the first year in half a century where a new indoor mall did not open somewhere in the country. Another recent article notes the high retail vacancy rate in regional malls. Others write that fast-growing “lifestyle centers” – open-air developments that contain some mix of shopping, office space, entertainment, outdoor parks, recreational facilities and housing – are replacing regional and local malls as the new shopping destination of choice.

However, the Newsweek article lays some of the blame for traditional malls’ decline on anti-consumption and pro-environment and fair labor sentiments held by the public. They report that 40% of First Globals prefer to purchase items that are “socially conscious” – ie, environmentally safe and produced through fair labor – and that traditional malls have little to offer that fits this description.

What do you think? Is the rise in the anti-consumption and pro-environment attitudes detailed by Newsweek responsible for the waning fortunes of shopping malls, or are factors like the growth of lifestyle centers and Internet shopping more responsible? Does the economic uncertainty of consumers mean that all shopping centers (and not just malls) are likely to close or have economic difficulties of their own? Where do you plan to do most of your shopping – in a mall, or elsewhere?

Katy Uncategorized consumption, economics, entertainment, environment, first globals, internet, leisure, lifestyle, recreation, shopping

For decades, the U.S. has moved away from being a nation that manufactured products to one that buys things that are made somewhere else.  Given that model, our economy is very dependent on consumption through retail sales to spur growth and profit.
Surveys we have conducted at Zogby International continue to show American society moving away from that model. We are experiencing a paradigm shift that rejects the necessity of owning the next great new thing, and instead embraces satisfaction through relationships, leisure activities, volunteerism, self-expression and spiritual fulfillment. The latest evidence of this came in a series of questions we asked to more than 40,000 U.S. adults in a July interactive survey.

Read all of John Zogby’s article on how Americans are choosing to live with less at Forbes.com.

Paul consumption, culture, economics charity, consumption, economy, international, John Zogby, leisure, race, zogby

With the economy in a slump (the New York Times today announced that the US economy is in the 2nd straight quarter of steep decline), what are your plans for summer vacation? Will you still take one? Where will you go? How much will you spend? What will you  buy?  How else will the economy affect (or not affect) your summer vacation plans?

Katy economics, lifestyles, recreation, travel economy, leisure, lifestyles, summer, vacation