Posted Jan 16, 2017, 9:09 PM
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A hole being Doug
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Join Date: Dec 2013
Posts: 498
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Anchor stores died the day buying full pages in newspapers advertising a sale stopped drawing crowds.
Sears, The Bay, Best Buy, etc. offer nothing extra. Their advantage was harnessing the hype of print advertising. But anybody can run a 1 day sale online, might as well cut out the middleman. The 'store within a store' concept is one step towards cutting out the middleman, but it's not the final one.
It's destination, with Nordstrom margins+service or Wal-Mart turnover+savings, or nothing.
Entertainment serves the same purpose as free & easy parking: it gets people to show up, and eliminates all other barriers for stores to make a sale.
A successful mall is a cluster of factors that reduce the barrier to making a sale, substitutes for spending on marketing by individual stores. The right mix of stores matters as much as anything already mentioned.
Station square lost because Metrotown was bigger or investing to get there, no? Growth begot better stores, and that would have been all the difference when they were in a winner-take-all competition for attracting the same crowd.
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