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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



May 24, 2019, Germany:
Unibail-Rodamco-Westfield laid the foundation stone for Westfield Hamburg, located in Überseequartier.
May 23, 2019, Finland:
A new service area will be opened in the shopping center in the center of Lahti.
May 23, 2019, Poland:
The long-awaited Galeria Mlociny shopping and entertainment center opens in Warsaw.
May 22, 2019, USA:
Iconic luxury label Tom Ford will open boutiques at two premier locations in Houston and Atlanta.
May 22, 2019, Latvia:
The premium and accessible fashion brand, & Other Stories, opens its first Baltic Store in Galleria Riga.
May 21, 2019, United Kingdom:
The British department store chain Marks & Spencer will accelerate the pace of closing stores as part of a large-scale business reorganization.
ICSC ECE

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