But of course, online shopping can't be ignored—even if has some downsides, said David Simon, chairman and CEO, Simon. “What those who talk about ecommerce sales don't talk about is how 40% of online sales result in merchandise being returned to the stores. So it's not going to matter where sales are made, the brands need a physical prescence to generate ecommerce sales. That's why malls are being built in Brazil, China, Indonesia, Dubai, Chile and even the US.”

The online sales channel may even help retailers in need of change, noted Kenneth Bernstein, president and CEO, Acadia Realty Trust. “It's very hard for retailers to shrink their stores while they're in business so one choice they have is to allow some sale to migrate online. That's what we don't know, will some retailers make that choice?”

Some other questions just aren't being asked—but they should be, said Hurwitz.

“Every lease is 50 to 100 pages long and has one page on rent. You know what no one talks about? The terms between landlords and tenants; that's the secret sauce because it's the difference between a mall that's great long-term and one that's not.”

Meanwhile, retail executives are looking ahead. “I could not be more excited about the future,” asserted Wood. “We're developing a ton of product and it's exciting because it is coming from local entrepreneurial businesses.

Added Bernstein, “In urban markets, we're seeing significant top line growth in street retail and 10 to 20 retailers are lining up. That's exciting.

Says Simon, “The exciting thing is determining how we can bring technology into the mall to enhance the shopping experience. What can you do with technology to make a customers visit more productive, efficient and exciting.

Declared Wood, “You have to bet on people and socialization. Shopping is a wonderful thing.”