The news that giant South African retailer, 'Game', is poised to close shop in Tanzania, must have sent shock waves down the spines of not just the thousands of customers who are used to visit the supermarket looking for bargains, but also of investors, current and prospective, in shopping malls.
Large shopping malls made their debut in the United States in the late 1950s, riding on the shoulders of the love for suburban living, supported by investment in infrastructure especially highways; and the near universal car ownership. Investors poured millions of dollars creating hundreds of thousands of mall space over the years. Malls grew in size and complexity. By 1975, malls and shopping centres accounted for 33% of all retail sales in the United States.
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