Yes B&M retail space over-built - but it is not dead. People like to shop in person. They like to see different items and touch them before they buy. Brick and Mortar retail will co-exist with on-line shopping. Women especially love to shot together. They love going out and having fun shopping. Seniors like to shop to get out of the house. People will shop online for specific items, but when they are not really sure what they want, they will go to the store. Clothing is in that category.
As people become more affluent, entertainment becomes a more important part of their life. Department stores and malls need to be more entertaining, and people will flock there. Virtually all the casinos in Las Vegas have large shopping areas because shopping is part of an entertainment experience.