In the 1980s, shopping malls grew massively in popularity.
They seemed to cater to the massive increase in suburban living. But as as a result, many downtowns suffered. What used to be bustling downtown shopping centers turned into ghost towns and many became areas of crime and poverty.
Today, shopping malls are closing fast. There are dead malls everywhere.
This is a natural progression. As one form of business comes, another one takes its place with a better product for the consumer.
Shopping malls provided something with more value than downtowns. Now, online shopping is providing a better product than malls.
Activity-Based Businesses
One interesting thing is that some of these malls are being converted into activity-based businesses. Entrepreneurs are looking for spaces big enough for fun and entertaining activities that have low enough rent to make a go with a profitable business.
Waterpark popularity is on the rise. Escape rooms have become a global craze. More malls are becoming trampoline parks, arcade restaurants, skateparks and even indoor skydiving experiences.
It’s On The Rise
So yes, local activity-based businesses are on the rise. And not just in malls. Local space is being used for activities. It’s a great use of space. People can entertain themselves at home, but even with virtual reality they have limited options for physical activity.
You could even say that going to see a movie is an activity. It’s amazing that theaters have been able to remain popular through the TV age and now the Internet age. But they focus on an experience and activity that has yet to be replicated or bettered by something at home.
Many malls, and even some downtown areas, have focused on adding theaters as a way to fill space.
Downtown spaces have been getting back to creating live-entertainment in the form of music, plays and other performances. They’re also creating craft breweries that offer unique in-person experiences.
Conclusion
The local economy will always have opportunities. Focusing on what people want that they can’t get elsewhere is the key. It’s simple, but obviously not easy. Finding something that is activity-based is one of the keys to succeeding when you’re fighting against online retailers and even online gaming and activities.
