Are shopping malls dying? Dynamics of a retail format in Spain

Shopping malls —conceived as integrated spaces for leisure and consumption— became leading actors in urban retail and enjoyed remarkable success. In their country of origin, the United States, they are now experiencing a marked decline. This article demonstrates that the trajectory is not identical in Spain. Using national shopping‑centre directories and economic life‑cycle theory, we show that, after the Great Recession, the sector moved from a phase of growth and expansion to one of maturity. In this stage, and despite a tendency for the number of retail units to fall, operators have pursued refurbishment and renewal strategies, sometimes specialising in foodservice and leisure and often enlarging gross leasable area. Crucially, the traditional anchor role has not collapsed: hypermarkets continue to operate in two‑thirds of Spanish malls, ensuring stable footfall and buffering the format against rapid decline. Although the sample is limited, the most recent footfall figures confirm that the sector remains vibrant and that a dead‑mall landscape has yet to spread across Spain.