I’ve seen a similar thing happen in Sofia, Bulgaria’s capital, but with a twist. When there were no malls, all the high end shops were located at the center in the pedestrian friendly zone.
Then they started building them like crazy, all the shops moved there, and the center started dying.
But something interesting happened, since it was still valuable real estate, those people didn’t go down easy - all those former shops turned into restaurants, cafes and bars. And the center became much more inviting, and markedly more “alive” than when it was in effect an outdoor mall.
So now people go to the malls to buy stuff, and go to the center to hangout, and I think everyone is happy.
Though among those restaurants new shops have started opening as you know, they go where the people are at, but the malls are still going strong.
Maybe once the online shopping thing hits Bulgaria properly the malls would close/transform, but people would still flock to the center for all the recreational places.