Shopping Mall Closures on the Rise

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UNITED STATES  --  A new report shows shopping malls and stores are closing at an epic pace.

According to Credit Suisse, at least one out of every five shopping malls in the U.S. will go out of business within the next five years. Retail experts say that kind of plunge would be unprecedented in the nation's history; however, the reasons are nothing new. People are shopping online more than ever.

The report estimates that as malls close, online sales will grow from 17% to 35% by 2030.