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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



Nov 13, 2019, USA:
Starbucks Reserve Roastery Chicago will cover an impressive area of 35,000 square feet.
Nov 12, 2019, Spain:
Three operators were signed for an ambitious €800m project intu Costa del Sol in the south of Spain.
Nov 8, 2019, USA:
Art Peck resigns as CEO of Gap Inc., closing another chapter in the complicated history of the once-legendary retailer.
Oct 31, 2019, USA:
Fashionable search platform Lyst has published a rating of the most popular fashion brands in the world market in the third quarter of 2019.
Oct 28, 2019, USA:
The total area of the mall is about 2 million square meters, more than half of which will be occupied by entertainment operators.
Oct 28, 2019, France:
Candidates for prestigious awards include Intu Costa del Sol (Spain), Central Phuket (Thailand) and FICO Eataly World (Italy).
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