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Shopping malls start to reinvent themselves as foot traffic continues to be sluggish with online...

  • Thursday, August 16, 2012, 11:48 AM ET
    Shopping malls start to reinvent themselves as foot traffic continues to be sluggish with online shopping sapping the enthusiasm of consumers to make the drive out to malls. Operators such as General Growth Properties (GGP -0.5%) and Taubman Centers (TCO -0.3%) want sit-down restaurants to set up around the perimeter of malls - instead of staying embedded deep inside by a food court - to step up activity. If a trend takes hold, investments by restaurants players such as Darden Restaurants (DRI +0.2%) and Cheesecake Factory (CAKE +0.3%) could help turn the tide.
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    Malls have to create as many reasons for people to get out as possible. One thing that online retail can't do is to replicate the social experience of shopping. Women especially like the social aspect of the trip to the mall and restaurants just allow further socialization as part of that trip.

    Malls have responded well to internet shopping IMO and lets face it - you can't try on a shirt over the internet.
    16 Aug 2012, 05:44 PM Reply Like
  •  
    Restaurants outside were added to a GGP mall in Columbia, MD about a decade ago in a long row along a particular area section. They appear to be successful and get crowded in evenings especially, but some have lunch crowds. There is a Cheesecake factory.

    There is more to this than reinvention due to online competition. It is simply convenient to drive up near the doors of these sit down/carry outs. Few restaurants would be better off inside a mall that closes generally earlier than customers would be still feasting. There are good mid-range choices ( no full service luxury restaurants ) in one area and none are burger joints or drive throughs either
    17 Aug 2012, 01:07 AM Reply Like
  •  
    These days men seem to be just as enthusiastic about shopping as women and it's always going to be preferable to try things on and have that great choice. Looking in a catalogue is never going to be the same as the ' mall ' shopping experience. But possibly the exception to this would be electronics and the like where expensive items can be bought a lot cheaper on-line. However, it's a great idea to put the bars and restaurants outside so that they can trade throughout the evenings as well.
    17 Aug 2012, 03:23 AM Reply Like
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