 Outlet malls are not doing well. In 2023, the outlet industry was a roughly $65 billion industry, according to IbisWorld. However, the pandemic and the rise of e-commerce giants like Amazon and Shein have severely affected the sector. Historically, high inflation has also curtailed shoppers' spending ability. Historically, high inflation has also curtailed. Meanwhile, indoor malls and open-air shopping centers have done a better job of recovering as they try to get back to pre-pandemic levels.