Indoor shopping mall in the context of "Anchor tenant"

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⭐ Core Definition: Indoor shopping mall

A shopping mall (or simply mall) is a large indoor shopping center, usually anchored by department stores. The term mall originally meant a pedestrian promenade with shops along it, but in the late 1960s, it began to be used as a generic term for the large enclosed shopping centers that were becoming increasingly commonplace. In the United Kingdom and other countries, shopping malls may be called shopping centres.

In recent decades, malls have declined considerably in North America, partly due to the retail apocalypse, particularly in subprime locations, and some have closed and become so-called "dead malls". Successful exceptions have added entertainment and experiential features, added big-box stores as anchors, or converted to other specialized shopping center formats such as power centers, lifestyle centers, factory outlet centers, and festival marketplaces. In Canada, shopping centres have frequently been replaced with mixed-use high-rise communities. In many European countries and Asian countries, shopping malls continue to grow and thrive.

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Indoor shopping mall in the context of Dayton's

Dayton's was an American department store chain founded in Minneapolis, Minnesota, in 1902 by George Draper Dayton. It operated several local high-end department stores throughout Minnesota and the Upper Midwest for almost 100 years. Although it was regionally known as a high-quality shopping destination, Dayton's is best remembered for starting the discount shopping chain Target. The company was also instrumental in the history of shopping malls, opening the first indoor shopping mall in the United StatesSouthdale Center in Edina, Minnesota, in 1956.

In 1969, Dayton's merged with Michigan department store chain Hudson's to form the Dayton-Hudson Corporation. The Target division of the company eventually grew so large that in 2000 the corporation was renamed the Target Corporation. Dayton-Hudson had acquired Chicago-based Marshall Field's in 1990 and Target rebranded Dayton's stores as Marshall Field's stores in 2001 in an effort to focus more on discount retailing. In 2004, Marshall Field's was purchased by May Department Stores, which subsequently merged in 2005 with Macy's, turning the remaining Marshall Field's stores into Macy's department stores.

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