I don’t see how any retail place can survive right now in a mall. Not only does the ‘real’ economy suck, but they can’t possibly compete with online competitors. Their merchandise would already be a higher price than online, and that’s even before they have the high rent to pay, various taxes, and overhead. Just a sad situation really.
Their business models HAVE to be centered around ignorant customers that aren’t aware of the lower online prices. As a shopper, there really isn’t a reason to physically go to these places. The only time I do is if there’s an unusual situation where I may want to LOOK at something in person, before buying it online. In that case, they’re nothing more than a showroom really.
You just know that things aren’t going well when you see what was space formerly occupied by a big ‘anchor’ retail chain at the mall being rented out to a CHURCH! lol
I think it would be neat if they turned one of the closed down malls into a giant paintball or laser tag place. Perhaps an indoor shooting range with gun shops.
Malls are the section 8 housing of the future.
Large parking lots for the tenants to park their Escalades and Lexus SUVs.
I work for a tech company. One of our execs recently spoke to us and said that last Christmas online sales were more than 30% of all sales. Apparently that was up a lot even from one year earlier but I was surprised that it was only 30%.
I almost never go to any stores other than the supermarket or the hardware store. I haven't bought a gift at a brick and mortar store in years.
The anchor stores were there to support the malls. Eventually they became dependent on the malls. That’s why Penney’s and Sears are in trouble.
Then factor in that these companies offer cheaper prices if you buy online. They’re competing with themselves and losing. ha