The Business Insider reports that American families are no longer packing up and spending their evenings and weekends shopping at the suburban mall, and it is expected that 25 per cent of the suburban malls in the United States, approximately 300 will be losing their anchor stores as the mainstream retailers like “Macy’s, JC Penney and Sears shutter hundreds of stores to staunch the bleeding from falling sales.”
“When anchor stores close, it can be hard to find businesses to replace them, because they occupy the multistory buildings at mall entrances that are often at least 100,000 square feet. If no replacement tenant is found, the loss could trigger a decades long downward spiral for the shopping mall and surrounding communities.”
Malls do not die quickly-they wither as stores are closed. “Within the last couple of months, several mall-based stores — including American Apparel, Abercrombie & Fitch, The Limited, Bebe, BCBG, and Wet Seal — have announced mass closures.”
Mall consultants say that the rise of online shopping and a change in consumer preferences are the main reasons for the decline of the mall. “Studies show that Americans are increasingly choosing to spend money on technology and experiences like vacations over apparel. When they shop for clothing, an increasing number of them are going to discount stores like TJ Maxx or ordering from Amazon.” The proliferation of cheaper dollar stores and discount clothing stores has also enhanced the decline.
To counter this trend ” experiential retail“, creating a mix of pubs, restaurants, theatres, trampoline areas and laser tag locations in malls is being instituted. The challenge is to create an experience that cannot be duplicated by the internet. ” That’s becoming our big competitor now — the web. We want to give people real life experiences.”
GOOD, but it sure as hell isn’t like that in Nan!
We will await the first year report on Tsawwassen Mills to see if their replication of the ancient suburban dream still holds true.
Meanwhile, Metrotown, Pacific Centre, Brentwood, Lougheed and Coquitlam Centre see very little decreases in sales, if any, and retail amenities on many urban arterials just get better even though nearby housing prices are higher.
What makes the difference? Residential and employment density and transit, to name the two most important things.
The success, or otherwise, of Tsawwassen Mills will not be known for at least five years.
March 17, 2017
“Construction will begin this year on $245 million worth of roadwork in Surrey and Delta aimed at improving the flow of traffic, especially heavy truck traffic moving goods to and from the Deltaport container terminal.
The road improvements will also benefit the Tsawwassen First Nation, which has used its treaty lands to develop the Tsawwassen Mills mall and logistics businesses, including a container inspection facility, warehouses and multimodal transloading facilities.
The Vancouver Fraser Port Authority federal and provincial governments are contributing roughly $80 million each to the project. The Tsawwassen First Nation is also contributing $3.5 million.
The work will involve five road projects, with the bulk of big money going towards projects to improve traffic flows on the highway 91-Nordel Way interchange. The work includes 15 kilometres of new passing lanes, offramps and overpasses.
“These infrastructure improvements will have positive long-term impacts on Tsawwssen First Nations’s plans for sustainable economic growth,” said Tsawwassen Chief Bryce Williams.
“Direct benefits include job creation, an improved road and transit network to serve our residents, visitors and workersm, and substantial traffic relief at major congestion points through the community.”
The government estimates the new roadwork will create 745 direct construction jobs. The work is slated to begin this year and be completed by 2021.”
Okay. Let’s compare TM to the others in five years. Or even 10. With everything on the table like jobs created by transit-oriented development.
Jobs attributed to building projects, be they highways or malls have a finite time frame. Retail mall jobs, with rare exceptions, are low-end, often temporary and part-time.
Jobs created during the industrial revolution, Lancashire, Yorkshire’s West Riding, etc lasted two hundred years and, in some cases, exist today!
A profound difference!
One of the things highly noticeable in large shopping malls, is simply amount of time to walk around to browse, shop and visit multiple stores. It feels like a waste of time..even for those of us who have more personal time. No wonder, more consumers are trying online shopping.
North American customers might be abit different from ie Dubai where occasionally latter may offer skating rink, etc. : we’re expecting ourselves to experience the real outdoors/Nature. Offering future alternate in-person experience if not already, more fitness facilities..how about an indoor running track, have your kids’ gymnastics classes there, etc. It’s a question if we want to associate more community centre facilities (libraries have gone that way, some health care clinics, etc.). With the amount of indoor real estate space, rethinking of community public meeting spaces attached.
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Reblogged this on Sandy James Planner.
Funny I was in Oark Royal and it certainly didn’t seem to be dying. Robson Street on the other hand…