Malls Are Getting Mauled
By George Anderson Â
Reuters reported on Friday that consumer purchases in stores located within
malls are half of what they were in 1995. Â Mall stores represent 19 percent
of retail sales in 2002 compared to 38 percent in 1995. Â
Craig Johnson, president of Customer Growth Partners, a consulting firm, said,
“Consumers today have neither the time nor the patience to battle the parking
space, teen-age crowd and in-store navigation hassles so typical of traditional
malls and department stores.” Â Mr. Johnson called department stores, “dinosaurs,
as out of step with today’s consumers as rotary-dial telephones and vinyl record
albums.” Â
Moderator’s Comment: Is the shopping mall concept out
of touch with today’s consumer?
If yes, what needs to be done to change that? Malls have
their place. It is online. [George
Anderson – Moderator]