More bad news for America’s shopping malls: Consumers are shopping closer to home. And increasingly, home is not where the malls are.
Spending growth at mom-and-pop businesses has outpaced that of the
big chains in the past two years, according to Sarah Quinlan, senior
vice president at credit-card giant Mastercard Inc., which tracks
purchasing patterns. When they’re not shopping online, Americans are
seeking more personal connections and advice -- something they can find
lacking at national retailers.. . . more