1243013809_Chap007(2) - 7-1Challenge to MallsTime pressured...

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Unformatted text preview: 7-1Challenge to MallsTime pressured society makes it impractical to wander mallsFashion apparel sold in malls experiencing limited growthMalls are getting old and rundown unappealing to shopAnchor tenants are decreasing due to retail consolidationStrategies?Make shopping more enjoyable (e.g., sofas, childrens playing areas)Great food destination (fast food and full-service restaurants)Tailor make its offering to cater to changing demographics (e.g., repositioning older shopping centers for Hispanic markets)Mall renovation and redevelopment7-2Lifestyle CentersPhoto provided by ICSC and used with permission of Aspen Grove Lifestyle CenterAttractive to specialty retailers7-3Stores and Restaurants at Lifestyle CentersStarbucksPanera BreadBed Bath & BeyondAnn TaylorVictorias SecretEddie BauerColdwater CreekBanana RepublicThe GapRestoration HardwareWilliams-SonomaPottery BarnBarnes & Noble/BordersDicks Sporting GoodsAeropostaleHallmarkJohnny Rockets7-4Lifestyle CentersUsually located in affluent residential neighborhoodsIncludes 50K sq. ft. of upscale chain specialty storesOpen-air configuration Design ambience and amenitiesUpscale storesRestaurants and often a cinema or other entertainment Small department store format may be there7-5Fashion Specialty CentersUpscale apparel shopsTourist areas/central business districtsNeed not to be anchoredDcor is elegant...
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1243013809_Chap007(2) - 7-1Challenge to MallsTime pressured...

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