GOLDMAN SACHS: The death of malls will fuel ‘degentrification’

According to this Business Insider report there is a bright side to the death of malls…could we see a mom and pop comeback?

As nationwide chains gobbled up retail space across the country, they did so at the expense of smaller mom-and-pop shops.

But now, as the brick-and-mortar chains die a slow and painful death, small businesses could make a comeback by filling the void, according to two Goldman Sachs executives.

Speaking on the firm’s podcast, Kim Posnett, head of internet investment banking, and Kathy Elsesser, head of the healthcare and consumer and retail investment banking divisions, explained how exactly ecommerce is effecting physical retail stores.

“I think there will become a degentrification, for lack of a better word,” says Posnett. “We will see the rents come down, and mom and pops shops will come back in a much more curated, personal way that goes along these lines of creating great service and a sense of community, and a desire to support your community.”