In a research note published Tuesday, the bank estimated that 20% to 25% of the nation's 1,100 shopping malls — or roughly 220 to 275 shopping centers — would shut down by 2022.
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Wall Street bank says a quarter of shopping malls will close in 5 years
About a quarter of US malls will most likely close within the next five years, according to a new prediction from Credit Suisse.
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Credit Suisse cited mass store closings, the rise of e-commerce, and the growing popularity of off-price chains — which tend to be located outside shopping malls — as reasons for the potential mall closings.
About 3,600 store closings have been announced this year.
Credit Suisse estimates that about 8,640 stores will ultimately close by December.
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The firm also estimates that e-commerce will grow from 17% of apparel sales today to 37% of apparel sales by 2030.
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