9/11/03 Retailing Back to Normal in Vegas

Sep 10, 2003

By George Anderson

The local economies of tourist destinations such as Las Vegas were hard hit by the terrorist attacks on Sept. 11, 2001 but two years later, retailers report shopper counts and
spending have rebounded, according to a report on The Rolling Good Times Online.

“The effects of 9-11 were felt for about four to six months after the attacks, but I don’t think it’s September 11 as much as the economic issues that have continued to affect
us,” said Troy Fischer, general manager of the Desert Passage mall.

Mr. Fischer said sales-per-square-foot at the mall were up nearly 26 percent in July compared with the same month in 2001. This year’s figure was a 9.5 percent improvement over
July 2002.

Fred Walters, general manager of The Venetian’s Grand Canal Shoppes said, “Some of our luxury stores have added items with lower price points because shoppers might not see luxury
items with the same necessity, but overall our sales of jewelry and high-end apparel are up. People are definitely shopping again.”

Moderator’s Comment: How has retailing changed since the 9/11 attacks?

The mantra location, location, location is being replaced by price, price, price. [George
Anderson – Moderator

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