Journalists, authors and experts (not all of them of course) over the past few years have declared the American shopping mall is dying, if not already dead. Websites, like deadmalls.com, seem to relish in the growing number of malls going under. Or at least relish in posting pictures of ones that have.
Some blame the change in consumer habits of spending frenzies to an attitude of "buy less, save more."
If the anecdotal evidence isn't enough, take a look at the numbers. In their height, indoor shopping malls were being built at a rate of 140 per year according to recent research from Georgia Tech. However, in 2008, not one shopping mall opened.
Inlet Square Mall in Murrells Inlet is facing financial troubles, even before the U.S. entered a recession. Some speculate the facility is near bankruptcy, but the mall's management company wouldn't comment.
"It's not appropriate for us as a managing agent to be discussing the financial conditions at any of the properties we manage," Tim Olson of Urban Retail Properties said in a voicemail message to NewsChannel 15.
Farther north at Coastal Grand Mall, a retail mecca in Myrtle Beach, the news is better, at least according to the marketing director.
"Yea, (Coastal Grand Mall) probably is above the economic standard in other markets," Deb Bramlett said.
Bramlett has confidence in her store's performance and said 19 new stores opened at Coastal Grand in 2008; only two closed (a KB Toys and Wearhouse Jewelers).
Bramlett admits the economy isn't helping the cause for malls, but says she's seen worse years.
Gary Loftus, director of the BB&T Center for Economic Development at CCU, says malls not opening last year doesn't have much to do with the economy.
"Anything that would have been built would've been planned in 2007, so the fact that they're not open, I don't think there's a connection between the two," Loftus said.
Bramlett agrees and remains a fierce advocate of malls.
"I think they're always going to be malls ... I don't think they're going away."
At least not in the immediate future.
