US Shopping Malls on Brink of Collapse Amid Rise of Walmart and Amazon

Retail giants Walmart (WMT), Amazon (AMZN), and Costco (COST) have been accused of contributing to the decline of shopping malls in the United States. According to Alex Hennick, President and CEO of A.D.Hennick & Associates, American malls have failed to adapt to evolving customer needs and are now struggling to stay relevant.

Hennick pointed out that online shopping, particularly through Amazon, has made it easy for consumers to compare prices and shop from anywhere. As a result, malls need to change their approach and offer more than just retail space.

Walmart is a major player in this shift, with over 10,900 stores and e-commerce websites across 19 countries. In the US alone, Walmart operates 5,217 retail units, including large Supercenters that employ around 300 associates each.