Story perspectives

Retailers Face Closures Amid Rising Prices, Shift to Experience

5/16/2025

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Summary

Story summary

Retailers are halting new store openings amid rising prices, resulting in 1,300 more closures than openings last year.
The first quarter of 2025 recorded the lowest leasing rates since 2020, with nearly six million square feet vacated.
Increased foot traffic to malls in March and April signals a retail recovery.
Gen Z and Millennials favor in-store shopping, contributing to a 20-year low in vacancy rates.
Malls are evolving by adding dining and experiential retail to meet consumer demand for unique experiences.

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Story summary

Retailers are halting new store openings amid rising prices, resulting in 1,300 more closures than openings last year.
The first quarter of 2025 recorded the lowest leasing rates since 2020, with nearly six million square feet vacated.
Increased foot traffic to malls in March and April signals a retail recovery.
Gen Z and Millennials favor in-store shopping, contributing to a 20-year low in vacancy rates.
Malls are evolving by adding dining and experiential retail to meet consumer demand for unique experiences.