As many of my longtime readers know, I didn’t grow up in a particularly frugal household. In fact, back when I was a kid, frugality wasn’t really a common household term. These days, being frugal is actually trendy. How funny is that?
Frugality is all about purpose and spending money only on things and experiences we value. And, although we wholeheartedly agree with this, we still miss the experience of going to our local shopping mall to pick a few things up or just to walk around. And so my question is: Did the rise of frugality kill our shopping malls?
Over the weekend, Mr. MMM and I headed out to our local shopping mall to get one thing that was on our short list. Much to our disappointment, our local mall didn’t have it.
What did we want, you ask? I wanted to buy a simple webcam so I can use it with Mr. MMM’s computer – which is faster than mine and can actually handle recording videos for the blog without a lag. And since the only other alternative is to upgrade the laptop I use, we decided on the more frugal option of just picking up a webcam.
The shopping mall I’m referring to is the same mall I grew up going to with my mom every week as a kid. We wouldn’t just go to the mall to shop, we went to get out of the house and have an experience.
It’s also the same mall I frequented as a teenager. I can remember roaming the mall for hours on most Friday nights with my friends. I probably only had $5 for the whole night, but that was enough for a few arcade games and a slice of pizza.
The Slow Death Of Major Department Stores
It’s no surprise that major department stores have been struggling to stay afloat in recent years. The advent of online shopping and next day delivery has made it extremely easy for anyone with an internet connection to put their frugal savviness to work with price comparisons and online ordering with a few taps of the screen.
As you can see from the detailed and quite professional (hehe) infographic above, my local shopping mall is in grave danger. Just last week they announced, seemingly out of the blue, that one of the major anchor stores, which is also a major department store, has been purchased by liquidators and will be closing their doors in just a few short weeks.
After a little digging, I discovered that this particular anchor store has inhabited this part of the mall for the last 26 years. A quick calculation revealed how young I was 26 years ago when they opened their doors. I’m still in shock at what this could signal for the future of the entire mall.
Sadly, the remaining 3 anchor stores are all on the endangered department store list. All 3 have been closing down stores at a rapid pace within the past few years and there is no telling when they’ll pull the plug from this mall.
Smaller Shops And Kiosks
And it’s not just the big department stores that are in jeopardy. It seems like the smaller shops that line the walkways from the center hub to the anchor stores are in constant rotation. This is something I’ve noticed more and more the past few years. We even saw a few empty stores when we were there.
Another thing I’ve noticed is the appearance of kiosks…EVERYWHERE. Kiosks have flooded the center of each walkway. I guess it’s a way for small businesses to get started, but it’s also a way for malls to make some money with so many stores closing up shop and major department stores pulling out completely.
Unfortunately, I don’t think a mall can survive on kiosks alone. I’m no business expert, but I imagine the big department stores pay a hefty fee to maintain their spot as anchors in any mall. Without the anchors, the entire mall is likely to fall.
The Rise Of Frugality And A Shift In Spending Habits
Have shopping malls outlived their heyday? It definitely seems so around here.
Obviously, I’m not blaming the rise of frugality for the fall of shopping malls, but I do think frugality plays a part in the shifting landscape of modern consumerism.
As things become more and more expensive and people place a higher emphasis on living a thoughtful life and creating their own unique path, rather than settling for 40 years of full-time work and a pension, the way in which we manage and spend our money must also change to align with this new lifestyle.
No longer do we brag about how much we spent on something (like people did in the 80s and 90s). Instead, now we brag about how much money we saved by ordering online – and how we didn’t even need to leave the house.
The Loss Of Experience And Socialization
Being a super frugal advocate it’s hard for me to say anything negative about price comparing and getting the most bang for your buck, but I feel like shopping malls are a social hub and they’re slipping through our fingers without us realizing it.
Before we know it, we won’t even have the option to run to the mall to pick up a new Insert Item Here. But, unfortunately, when a huge shopping mall doesn’t have one store that sells a webcam, what’s the point?
Next time I need something I’ll probably just skip the mall and go straight to online shopping – just like everyone else.
Maybe I’m just getting caught up in a feeling of nostalgia for good times, for my childhood, for a time when no one had a smartphone and life moved a little slower. You can’t really blame me.
Other articles you might enjoy:
- Why We Love Being At Home
- What To Do When You Realize Frugality Won’t Make You Rich
- How To Transform Your Money At Any Age
- 8 Money Moves That Will Eliminate Your Credit Card Debt
- 9 Money Hacks That Took Us From The Poorhouse To The Penthouse
Next Day Delivery!
And thus concludes my observation of the current shopping mall decline this country is experiencing. Don’t get me wrong, I do enjoy shopping online in my slippers and having stuff delivered to my front door, but I’m still going to miss the hustle and bustle of the mall on a Saturday night and during the holiday shopping season. *sigh*
11 Comments
I was never much for malls even as a kid. I did a bit of hanging out there in high school but it was never really my thing. But it does give rise to some interesting thoughts. As we go away from buying things in person how does that impact social interactions across a community? Combined with freelance from home work and grocery store delivery it’s possible to never leave your home and meet others. Now people still seem to go out for drinks and eat out but if those go out of style one begins to wonder outside of hobbies how communities will stay together.
Exactly! You make excellent points regarding grocery store delivery (which we actually use!) and working from home (which we both do too!). We’re becoming a society that only interacts using digital devices. Yikes.
I think you’re absolutely right that shopping habits are changing- there is no scenario where I would even think to buy a web-cam at a physical store.
It’s both exciting and scary at the same time. But, I guess change always is. Thanks for commenting!
What is the difference between frugality and having no money? I am 76 years old. I cannot remember the last time I was in a mall. Oh yes, the big one in Scottsdale, AZ. Really fancy shops. Pricey as well. I saw very few people with shopping bags. I did see a lot of people eating as they strolled thru with both hands full. Most of these shoppers/eaters also were on the obese side.
The malls are where the middle class went to shop. The middle class has no money. In the “old” days people shopped “downtown”. Downtown died when the powers that be decided to put in parking meters. The mall was built and had loads of “free” parking for everyone. Now people shop on line. It is just progression from what was to what is now.
My kids shop at Amazon with Amazon Prime. Grandkids shop at Amazon. We get most of our stuff at Marshall’s/TJMaxx/ Homegoods. Or at upscale consignment shops etc. However, we have NOT bought much in 10 years except to replace. We travel constantly. Have done so for the past dozen years. Buy nothing but experiences. Oops. Bought a new Audi this year. Safe travels around the country.
You are completely right. Downtown died and the malls were born. Now it’s changing again. Change can be difficult to swallow when it’s attached to nostalgia. We order most things online as well, but I’m still going to miss the mall when it finally closes its doors.
Experiences are definitely the way to go in terms of spending money. Thanks for sharing your thoughts! 🙂
Hmm…no malls?? Where will young kids hang after school or on the weekends? Where will you have your first boy-girl meetup?!!!
Exactly! haha
I’m pretty sure frugality didn’t cause the decline of malls. We’re on a small fraction of the population. It’s online shopping, for sure. It’s a lot more convenient.
I never spent much time at the mall when I was young. No money.
Yeah, I’m pretty sure it didn’t either. It was just fun to think about. 🙂