Huge big-box stores like Wal-Mart Supercenters and Target are being phased out in favor of "some combination of value and convenience," Goldman Sachs recently wrote.
"Just about every major trend we're following right now bodes poorly for power center retail," Doug Stephens, founder of industry website Retail Prophet and author of "The Retail Revival: Re-Imagining Business for the New Age of Consumerism" told Business Insider.
Americans are driving less than they have in decades. Populations are flocking to smaller, urban communities over sprawling suburbs. And consumers in their 20s and 30s increasingly prefer small, local shops to big-box retail.