Recent trends, according to new Wharton research, show that consumers are relatively uninspired by the lack of originality that seem to encompass malls these days. In their fifth annual survey of consumer dissatisfaction, Wharton’s Jay H. Baker Retailing Intiative and the Verde Group, a research consultancy specializing in customer retention, found that 80% of...
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Archive for January, 2009
Are Shopping Malls Losing their Appeal?
Mall Vacancies Soaring In U.S
U.S. malls and shopping centres are seeing a 10-year high in the fourth quarter in connection with U.S. mall vacancies. This trend continues to rise as declining retail sales put more stores out of business reports research firm Reis Inc.
Vacancy rates rose up to .5% from 6.6% to 7.1% in the third quarter,...
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Reported Fall Of Mall Supply By 54% In 2008 (India)
According to a report by Cushman and Wakefield (real estate consultants), mall supply fell by over 50% in 2008 despite earlier projections, with as much as 11 million square ft of unexpected supply deferred to the next two years. Earlier projections were expecting 74 new malls at the beginning of 2008, with only 34...
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