Sunday, December 31, 2017

How not to save a dying shopping mall

How not to save a dying shopping mall:
"It comes as no surprise that when it comes to advice on running a business, The New York Times is the last place one should turn to.  
The NYT ran a story about an economically failing mall in upstate New York that is turning itself around with a lot of feel-good strategies that won't help the bottom line:
When the Payless ShoeSource at the St. Lawrence Center closed this spring ... Erica Leonard, the mall's manager ... turned over vacant storefronts to local merchants who sell bourbon maple syrup and wood sculptures carved with chain saws.
How much revenue is a storefront going to generate selling maple syrup and wood sculptures?
Image result for dying shopping mallNear the mostly empty food court, a local Mohawk tribe member opened a specialty popcorn stand.
How many bags of popcorn will they need to sell to get the mall out of the red?  (Sorry – I just realized I used the word "red" in reference to Mohawks!)
And in the space that used to house a Sears store, residents of the area created a "winter wonderland" – an elfin village fashioned from discarded cardboard boxes that once held refrigerators.
How much revenue will the viewing of discarded cardboard boxes generate?
This year, a group of Canadian real estate developers bought the mall and made some basic improvements: new lighting in the hallways, patches to the leaky roof, cleaning supplies for the janitors.
...Is this The Onion or The New York Times?
This article reads like a puff piece that was paid placement by a P.R. firm.
I spent years advising shopping centers about legal, management, and marketing issues, and no serious person in the industry would take this seriously.  
Malls are having trouble competing because people are buying more products online.  
The strategy for malls to survive is not to sell fly-swatters and popcorn, but to focus on service industries..."
Read on!

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