- U.S. retailers so far have announced they will shut 5,994 stores, while opening 2,641, according to real estate tracking done by Coresight Research.- A separate report by data analytics firm Thasos found foot traffic dropping off at malls across the country in recent months.- Thasos also found malls with 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.https://www.cnbc.com/2019/04/15/malls-see-tsunami-of-store-c...
On reading the article I thought of my area. A lot of new strip malls going in on newer roads or areas leading to growth. The new strip malls, on average, 40% food and 40% service with perhaps 20% retail. That 20% retail, if anything is perhaps high.Then I thought of some of the older vacated stores like the old Kmart and others, all full!!!Then I thought of the local mall. Its like a tale of two cities. One no sign of a retail wreck and the then the mall which appears to be ground zero of the retail wreck.
Most people are thinking Mall's as a concept is fine only lower end malls are going to be impacted. I think this malice may spread to higher end malls eventually and a significant disruption is possible there also. The concept may survive but lot of financial damage will occur between now and then.
I have to say, shopping patterns have changed in my household. Neither my Wife or Daughters, who are young adults) would drive more than 5 miles for a shopping trip. If they can't find it in that radius, they go online. A few years ago it was different. Local stores are better at having the treasure hunt experience and online shopping has improved significantly.The SKT Management team is very smart, and they are great financially, so I think they will find a solution and reassert their space in the retail world. I'll hold what I have for now, but won't add.srockazLong SKT
"Local stores are better at having the treasure hunt experience and online shopping has improved significantly." It is funny, I am finding more of the "treasure hunt" on Amazon these days. - Very variable pricing. - If not buying name branded items, variable quality. - Great variation in shipping times. Never been consistent two day delivery in my area, but now a lot things ship outside Amazon's own logistic systems and can take over a week. - They present the "sponsored" items to you upfront and sometimes it takes a little digging to find what is best for you. Last year bought eight items online for over $100 and only one came from Amazon as others beat their price. Sometimes considerably!VM - Long time AMZN customer, former AMZN shareholder, probably former AMZN customer on more and more things.
I see the biggest problem is having to park your car a long distance from one or two stores to go to the mall. add that to the store you want to go to is some distance in the mall. getting old so joints hurt. finally getting there to the store and not finding what I want. even going multiple times, add that up and I will go to a strip mall any day or amazon.
getting old so joints hurt That's why you need to walk my friend!
that is why I walk on dirt, in the fields. that does not hurt.
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