Carl-Gould-70secondCEO-It is Not Enough to Keep the Malls Going

Carl Gould #70secondCEO

It is Not Enough to Keep the Malls Going

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

I'm gonna really age myself now because I, in New Jersey where I live, I grew up in the town that had one of the first big malls, it was called Willowbrook Mall in Wayne, New Jersey. And in the eighties when I was in getting out of grade school and into high school, that's when Willowbrook Mall really came into its own. And at the time, it was the largest mall in the world. I mean, it's not now, I mean, the whole rest of the world caught up and passed it by, but it was a serious hangout. We went there just to go and see your friends and it was a place to collect and all that. And, you know, Gen Z is, you know, they grew up connecting mostly digitally and the malls does give them a chance to get a sense of community. They have been surveyed and identified as one of the lonelier if not loneliest generation thus far. And so malls do provide that, you know, they do give them that sense of community, you know. And so Gen Zers is the largest generation, 47%. Say that they prefer in person shopping over online. That is the largest percentage of any generation. So it's not enough to sustain the malls or to keep them alive because they're not a big enough purchasing class in order to drive the economy. But it is somewhat surprising that they are as enamored with malls. What's interesting is those that like to go to the malls for the same reason that we did when we were kids, when malls first came around.

Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.