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(CNBC)   Shopping malls considering bazaar shifts in their business models   (cnbc.com) divider line
    More: Interesting, Shopping mall, mall owners, store closures, Foot traffic, lot of malls, last year, best shopping centers, new report  
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950 clicks; posted to Business » on 15 Apr 2019 at 12:56 PM (9 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



23 Comments     (+0 »)
 
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2019-04-15 01:03:13 PM  
Convert one anchor store into a co-working space for GenX and younger.

Convert another into a walk-in clinic with every kind of medical service for the Baby Boomers.

Leave the food court in between as a demilitarized zone.
 
2019-04-15 01:10:46 PM  
Malls don't seem as interesting to me as they once did.

img.fark.netView Full Size
 
2019-04-15 01:25:47 PM  
Hell, they're putting a damn grocery store in the old Bon Ton anchor.
 
2019-04-15 02:02:26 PM  
Well, about a decade ago they started chasing the teens that always hung out there away with chaperone requirements, mandatory supervision, curfews, etc. Now that those teens are adults, they feel no need to go back.
 
2019-04-15 02:10:09 PM  
Again if you want malls to be relevant than you need to put things there that people want to go to. The amount of people who want 50 different clothing stores isn't enough to support 50 clothing stores. Try replacing the closing Sears with some grocery stores, add a small clinic, maybe some bars that open right into the main area, add in some office spaces and even apartments and you go from crappy dying mall to small conveniently located town center.
 
2019-04-15 02:29:46 PM  
Wandering around a mall with no disposable income isn't anyone's idea of a good time

Who knew?
 
2019-04-15 02:37:12 PM  

Anenu: Again if you want malls to be relevant than you need to put things there that people want to go to. The amount of people who want 50 different clothing stores isn't enough to support 50 clothing stores. Try replacing the closing Sears with some grocery stores, add a small clinic, maybe some bars that open right into the main area, add in some office spaces and even apartments and you go from crappy dying mall to small conveniently located town center.


What he said. But I pitched them as old people sanitariums, especially good for patients with dementia/memory loss. If you toss in a starbucks, even the kids will visit once in a while.
 
2019-04-15 02:53:54 PM  

outtatowner: Anenu: Again if you want malls to be relevant than you need to put things there that people want to go to. The amount of people who want 50 different clothing stores isn't enough to support 50 clothing stores. Try replacing the closing Sears with some grocery stores, add a small clinic, maybe some bars that open right into the main area, add in some office spaces and even apartments and you go from crappy dying mall to small conveniently located town center.

What he said. But I pitched them as old people sanitariums, especially good for patients with dementia/memory loss. If you toss in a starbucks, even the kids will visit once in a while.


Turning an old anchor store into an assisted living center would probably do wonders for the residents of the center and for the mall.

Parents: We're going to visit Grandma.  The one that lives right by the arcade, movie theater, KB Toys, food court with Panda Express, and Pac Sun
Kids: *already in the car*  Let's Go!
 
2019-04-15 02:57:10 PM  
The malls managed to kill themselves, and it took some determination to do it.
- Where there was once a variety of shops and types of merchandise, bit by bit they became places where about the only thing you'd buy there is clothing.
- They were about the most expensive place to buy what you were after.
- Malls became overrun by poorly behaved young people who made the experience terrible for the adults with money.
- In an effort to recapture the adults with money, they ran off the young people, who no longer had a fond memory of the mall.

And so on. None of that covers the rise of internet retail.

And the thing is, as much as people say "mixed use" stuff now, malls used to be that! They were places not just for retail, but for entertainment and most other things. You'd get a haircut, play video games, watch a movie, eat a meal (and not always a fast food one), and so on. About the only thing they didn't have was living space (I knew of a couple malls that had office towers around here). The whole "malls as places to only get clothing" was a pretty late stage thing. The variety of shops in a mall in the late 70s/early 80s was staggering when you see what they have become.
 
2019-04-15 03:12:51 PM  

Subtonic: Hell, they're putting a damn grocery store in the old Bon Ton anchor.


Could work.

One smallish mall here was all but dead.  They turned it inside out (there was still a central interior access, but almost ever store had an exterior door as their primary access), put a Trader Joe.s where the TGI Fridays was, replaced whatever stock department store was there with a Target, and pretty soon they had enough traffic, they were building an expansion for a Hurt's Donuts and a few restaurants.

It probably helps that AMC has a vested and sentimental interest in keeping the place going, but that isn't going to keep it going by themselves.
 
2019-04-15 03:16:17 PM  

akula: The malls managed to kill themselves, and it took some determination to do it.
- Where there was once a variety of shops and types of merchandise, bit by bit they became places where about the only thing you'd buy there is clothing.
- They were about the most expensive place to buy what you were after.
- Malls became overrun by poorly behaved young people who made the experience terrible for the adults with money.
- In an effort to recapture the adults with money, they ran off the young people, who no longer had a fond memory of the mall.

And so on. None of that covers the rise of internet retail.

And the thing is, as much as people say "mixed use" stuff now, malls used to be that! They were places not just for retail, but for entertainment and most other things. You'd get a haircut, play video games, watch a movie, eat a meal (and not always a fast food one), and so on. About the only thing they didn't have was living space (I knew of a couple malls that had office towers around here). The whole "malls as places to only get clothing" was a pretty late stage thing. The variety of shops in a mall in the late 70s/early 80s was staggering when you see what they have become.


Cell phones ruined malls and slasher movies.
 
2019-04-15 03:17:37 PM  
When the Mrs and I go shopping, I take notice as to which malls and stores are building traffic. To get the older crowd, you need a variety of different store types. If it's all women's clothing (like so many malls) you have lost them. For the younger folk, you need certain specialty stores: 1) Experiential (things to do), 2) Places that cater to snob appeal (coffee that better than Starbucks, hand-made stuff). And finally, for all customers, you need a wide variety of food. The food court isn't enough anymore. You need a gastro-pub, high-end Asian, etc., and preferably that none of them are chains.
 
2019-04-15 03:17:44 PM  

HempHead: Cell phones ruined malls and slasher movies.


And driving, and going to the movies, and dinner out, and...
 
2019-04-15 04:16:57 PM  
Good news is that it appears that the surviving malls are packed and doing very well.  We are just over-retailed.  Time to re-purpose many of the malls into something that may be more useful in today's environment.
 
2019-04-15 04:57:12 PM  

bark2787: Wandering around a mall with no disposable income isn't anyone's idea of a good time

Who knew?


This. Malls require there be a middle class to pay the inflated prices on a regular business. When you don't have a middle class, malls go away too.
 
2019-04-15 05:59:50 PM  
FTA ... so-called experiential tenants that aren't just focused on selling products, like Apple, Italian food hall Eataly and Tesla, haven't been drawing in extra traffic.

These are not experiential tenants. Apple is a retailer. The mall has always had food. Unless Tesla is peddling rocket rides, it's just another retailer.

An experiential tenant would be a ground level bowling alley, roller ring, or bumper car facility. Other examples of possible experiential tenants include indoor rock wall climbing, an inflatable jumping business, ballet lessons, martial arts lessons, painting classes, a paint your own ceramics place, and a live theater.

None of the above will help if the hours for the activities do not coincide with the retail hours. It does precious little good to have your post-play theater folks strolling past closed restaurants and locked clothing stores.
 
2019-04-15 06:02:59 PM  

Anenu: Again if you want malls to be relevant than you need to put things there that people want to go to. The amount of people who want 50 different clothing stores isn't enough to support 50 clothing stores. Try replacing the closing Sears with some grocery stores, add a small clinic, maybe some bars that open right into the main area, add in some office spaces and even apartments and you go from crappy dying mall to small conveniently located town center.


Every mall should have a bar with some kind of live music at least once a week. Moreover, a certain number of those clothing stores should stay open until the bar closes.
 
2019-04-15 06:13:02 PM  

gerrychampoux: When the Mrs and I go shopping, I take notice as to which malls and stores are building traffic. To get the older crowd, you need a variety of different store types. If it's all women's clothing (like so many malls) you have lost them. For the younger folk, you need certain specialty stores: 1) Experiential (things to do), 2) Places that cater to snob appeal (coffee that better than Starbucks, hand-made stuff). And finally, for all customers, you need a wide variety of food. The food court isn't enough anymore. You need a gastro-pub, high-end Asian, etc., and preferably that none of them are chains.


A few of the more successful malls in this area feature authentic food from around the world and specialty retailers that cater to the Sweet Sixteen-Quinceanera-Prom-Wedding-Beaut​y pageant crowd year round.
 
2019-04-15 06:19:40 PM  

akula: Malls became overrun by poorly behaved young people who made the experience terrible for the adults with money.


There's a big mall north of here that just spent a pile off money renovating.  Two problems:  they eliminated 90% of the parking (someday to be yet more apartments without parking, big push in Portland for these) and the place is overrun with idiots.  Last time we were there, some morans were having an airhorn party.

That and there's nothing much besides clothing and shoe stores.
 
2019-04-15 08:52:51 PM  
OMC - How Bizarre
Youtube C2cMG33mWVY
 
2019-04-15 09:49:56 PM  
Mall and shopping center owners, looking for ways to fill empty space, have in turn been forced to negotiate on lease terms with tenants and settle on cheaper rents.

Oh the horror. Being forced to accept lower prices because of reduced demand. I can see why having the owners bound by the law of supply and demand is a bad thing for CNBC.
 
2019-04-16 01:24:33 AM  
FTFA: "...data analytics firm Thasos, which uses more than 100 million mobile phones to track when consumers enter and leave certain trade areas."

WTF?!  That shiat ought to be opt-in only.
 
2019-04-16 04:29:46 AM  
If your mall dies out, just do what they do around here and build a new one nearby.  Repeat as necessary.
 
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