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Macy’s and the American mall crisis



Anyone who does not see the problems that retailers are facing with reduced store traffic, should listen to what the Chief Executive of Macy’s, Terry Lundgren, has to say
He met with executives and mall developers to determine if this was a problem and whether everyone working together would solve it. The group agreed on both aspects.

The group is set to meet again to discuss options to drive shoppers back into stores, but Mr. Lundgren would not elaborate on the actual plans. Mr. Lundgren said department store anchors should be the ones to drive traffic to the malls.

The one problem facing many malls is the closure of stores by Sears and JC Penney. Both stores were go-to anchors for many mall developers in the past. These stores anchored almost half of the 1050 outdoor and indoor US malls.

To get more shopper visits, malls have added entertainment, including golf courses and high-end restaurants, along with same day delivery services.

The founder of ShopperTrak, which uses devices to track shopper visits to malls, stated that mall traffic has been consistent since 2007, however shoppers are not visiting as many stores when they visit a mall.


More about shopping malls in the USA



DAY BEFORE YESTERDAY, United Kingdom:
New World Trading Company has chosen to open its latest venture at intu’s transformational retail and leisure extension.
Apr 12, 2018, USA:
Exciting New Creative Plans Announced for Former Sears.
Apr 5, 2018, Sweden:
One of Sweden’s largest real estate investment companies launched its new retail concept in the heart of Swedish capital.
Apr 4, 2018, USA:
b8ta has been named "Store of the Year" by the 47th Annual Shop! Awards.
Mar 26, 2018, United Kingdom:
It will house the collection of British and international brands in one of the world’s most iconic buildings.
Mar 23, 2018, Spain:
ICSC will hold its annual events on 25-26 April in Barcelona, Spain at the Fairmont Rey Juan Carlos I hotel.
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