(CNN) - At least one out of every five shopping malls in the U.S. will go out of business in the next five years.
That's according to a new report out this week from Credit Suisse.
It estimated that a record 8,600 stores will close this year alone, and between 20 and 25 percent of American malls will close within five years.
That kind of plunge would be unprecedented in the nation's history.
The reasons are nothing new.
People are shopping online more than ever, and the report said there are too many stores that's caused a retail bubble.
The report estimates that as malls close, online sales will grow from 17 percent of retail sales today to 35 percent by 2030.
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