*By Justin Chermol*
The latest sign of the growing impact of e-commerce on brick-and-mortar stores? Mall vacancies have hit their highest level since 2012 and are closing in on all-time records.
Shopping centers saw 8.6 percent of their retail space unoccupied in the second quarter, up from 8.4 percent at the start of the year, according to research released by real-estate data firm Reis on Tuesday. The vacancy rate peaked at 9.4 percent in 2011.
Strip malls and local shopping centers are suffering the most, with more than a tenth of their space vacant. Occupants abandoned nearly 3.8 million square feet of property in the space between April and June.
The latest report comes days after now-bankrupt Toys ‘R’ Us closed its last U.S. locations on Friday. One-time retail giants such as Macy’s, Sears, JCPenney, and Bon-Ton have also closed dozens of locations nationwide.
And the trend towards online shopping affects more than just the retail industry. Local governments are seeing lower tax revenues as jobs are lost and spending decreases. And property owners are looking for alternatives for their spaces, with [some landlords](https://www.wsj.com/articles/malls-never-wanted-gyms-now-they-court-them-1511697600?mod=article_inline) converting former stores into call centers, gyms, or even churches.
But brick-and-mortar may not be totally dead. E-commerce giants like Amazon are actually opening physical locations. The company is [reportedly](https://www.geekwire.com/2018/revealed-amazon-gos-new-seattle-location-signals-tech-giants-growing-ambitions-checkout-free-retail-concept/) getting ready to launch its second cashier-less Amazon Go store in Seattle this fall.
Candace Mitchell Harris discusses her path from computer scientist to founder of beauty tech tool MYAVANA – and how it uses A.I. to analyze each person’s unique haircare needs.
Michael Harris, NYSE global head of capital markets shares what to expect from IPOs in 2024, including A.I. excitement and why interest rate cuts are always helpful.
Lacy Garcia, Founder & CEO of Willow, shares why women, traditionally underserved by fintech, are looking for trust and a personal relationship from their financial advisor.
Alexander Reed, CFA and CIO for Envisage Wealth, breaks down why he thinks rates could stay higher for longer and why real estate, utilities, and regional banks are sectors to avoid.
Big brands that have relied on TikTok videos to reach younger consumers do not appear to be panicking as they wait to see what happens. But they have started planning.
It's been 15 years since the last fatal crash of a U.S. airliner, but you wouldn't know that from a torrent of flight problems that made news in the last three months.
Abortion opponents want the high court to ratify a ruling from a conservative federal appeals court that would limit access to a medication called mifepristone, which was used in nearly two-thirds of abortions last year.
Annie Chechitelli, chief product officer at Turnitin, breaks down how students and teachers alike can learn from artificial intelligence – while still maintaining academic integrity.
