Quote:
Originally Posted by Horsell
I could not agree more. Blocking off those two anchor tenant spaces has adversely affected the flow at the Village. In fact, there used to be the Dominion supermarket as well which was in reality a third anchor.
Would Bed Bath and Beyond be better served with an entrance to the Mall where it could capture casual walk in traffic.
And what's up with Tip Top...I wonder if their business has suffered since moving across the parking lot.
This will probably make a great case study in a Business course in how to screw up a significant retail mall.
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I actually asked the clerk about how business has been since moving last time I was at Tip Top, several months back. He indicated it is slightly better sales-wise with less overall foot traffic, meaning a higher conversion rate (which retailers love). He said that the mall browsers who end up buying are more than made up for by customers who hate the mall but don't mind dropping in now that it's stand alone. I wouldn't take that as gospel, but it seems logical and explains the trend toward stand alone stores even on mall property.
I worked at a store in the Village from 2001-07 and can actually somewhat defend some of the decisions made over the years. That mall was desperate for tenants after Wal-Mart left, the place had more and more unleased space as the years went on, and this seemed to peak when Sears left. There has been a North American trend away from malls and into those ridiculous box monstrosities for several years now, and the economy wasn't booming the way it is now just a few years back. All that made for the kind of trends of non-retail space moving into former malls - just look at Sobeys Square (or whatever it's called) down the road, a call centre for Bell Aliant on one end and Eastern Health offices on the other. It's only really because of our red hot economy with new stores wanting space in the city that the mall has been somewhat rejuvenated lately - who really saw that coming?
The mall lost Dominion, Walmart, Winners, Shoppers, and Sears all in a fairly short period and was really in survival mode. It changed hands from Plaza to another company and then maybe a third time as well in recent years.