When a representative of the retail industry says it, it may represent a real shift:
At the Cavendish Mall in Côte St. Luc, weak sales following the departure of top performing retailers like Gap Inc. and Roots Canada Ltd. prompted owners to demolish about 40 per cent of the mall, which is now being converted into residential townhouses, semi-detached and single-family homes. … “People are spending more on experience and service and less on stuff. The world is awash in ‘stuff’.”
I found it interesting how this is viewed by mall owners, who must adapt their spaces to medical centers, health clubs or condos. However, retail spaces are apparently still the most lucrative, so are still considered the gold standard in malls.