jhopelain

Watching the Malls: As Goes Retail, So Go Communities Across America

Important story and great analysis. Up until recently, there has been a logic to the patterns of retail bankruptcies starting with sellers of stuff we don't need (Sharper Image, Lillian Vernon, Fortunoff) declaring bankruptcy in February. The second wave were sellers of stuff we can easily get at places we like better (Linens ‘N Things, Bennigan’s, Steak & Ale and Mervyn's) all of which went into bankruptcy in July. With the entire economy now on life-support, all retailers are vulnerable. "Value" has become tablestakes and survivors will be the retailers that get the greatest productivity out of their assets - people, product and place. For mall operators, it's time to drive visits. One way to do this is to get local and become even more visibly and proactively part of the communities they serve.