1243013809_Chap007(2) - 7-1Challenge to Malls■Time...

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Unformatted text preview: 7-1Challenge to Malls■Time pressured society makes it impractical to wander malls■Fashion apparel sold in malls experiencing limited growth■Malls are getting old and rundown – unappealing to shop■Anchor tenants are decreasing due to retail consolidation■Strategies?Make shopping more enjoyable (e.g., sofas, children’s 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 TaylorVictoria’s SecretEddie BauerColdwater CreekBanana RepublicThe GapRestoration HardwareWilliams-SonomaPottery BarnBarnes & Noble/BordersDick’s Sporting GoodsAeropostaleHallmarkJohnny Rockets7-4Lifestyle Centers■Usually located in affluent residential neighborhoods■Includes 50K sq. ft. of upscale chain specialty stores■Open-air configuration ■Design ambience and amenities■Upscale stores■Restaurants and often a cinema or other entertainment ■Small department store format may be there7-5Fashion Specialty Centers■Upscale apparel shops■Tourist areas/central business districts■Need not to be anchored■Décor is elegant■...
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1243013809_Chap007(2) - 7-1Challenge to Malls■Time...

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