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Old 09-08-2019, 02:50 PM
 
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We all know about the stores dying off or being shoved out. But I was thinking forlornly about Lord & Taylor, it seems like there have been more store closings in the last three years or so, than in the previous ten years.

One possibility is just that, the longer I'm here, the more stores I discover, so it seems like more of them disappear. Another possibility is that many took a nosedive during the recession and didn't recover. But the other possibility is that landlords are just greedier.

Lord & Taylor, Todaro, Jam Paper, East Village Cheese, St. Mark's Bookshop, Prosperity Dumpling...
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Old 09-08-2019, 02:57 PM
 
Location: New York City
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Manhattan Storefront Vacancy Crisis on Verge of Collapse
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Old 09-08-2019, 10:22 PM
 
116 posts, read 77,611 times
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Quote:
Originally Posted by Cida View Post
One possibility is just that, the longer I'm here, the more stores I discover, so it seems like more of them disappear. Another possibility is that many took a nosedive during the recession and didn't recover. But the other possibility is that landlords are just greedier.
Or maybe people are just doing more of their shopping online. There's a reason why Amazon is a trillion dollar company and Jeff Bezos is the richest person on earth (even post divorce settlement).
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Old 09-08-2019, 10:33 PM
 
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Let's not forget how much the city and state squeeze businesses.
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Old Yesterday, 05:34 AM
 
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You can thank the greedy landlords for this. And a lot of this nothing to do with Amazon. Many are food and specialty items stores that just can't afford the rent.
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Old Yesterday, 05:48 AM
Status: "Debate! Don't ban!!!" (set 1 day ago)
 
Location: Between the Bays
10,680 posts, read 8,686,229 times
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It is a result of government produced inflation. Remember all those bailouts and stimulus? The negative effects are catching up with us. It'll get worse before it gets better. We need to stop spending money, and this is how the pricing model warns us into doing so.
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Old Yesterday, 06:24 AM
 
922 posts, read 576,066 times
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This has one cause and that is landlord greed
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Old Yesterday, 07:22 AM
 
Location: New York, NY
2,779 posts, read 2,355,502 times
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Quote:
Originally Posted by zhubaba View Post
Or maybe people are just doing more of their shopping online. There's a reason why Amazon is a trillion dollar company and Jeff Bezos is the richest person on earth (even post divorce settlement).
Bingo! Honestly, having a store is a waste of money. You pay the landlord fees for basically limited foot traffic, however, if you sell the same sourced products online on Amazon, you only have to pay 40 bucks a month to Amazon but have access to the entire world.
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Old Yesterday, 08:47 AM
 
Location: NYC
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Millennials don't shop at stores, they browse and order through apps. Any wise business would know that delivery and online ordering is the future.
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Old Yesterday, 11:38 AM
 
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OP I think you are on to something with regards to the recession with one caveat - commercial real estate to a hit and has yet to fully rebound and as such is squeezing more out of tenants. I really miss St. Marks Books and Court Street books in Brooklyn, I would like to believe Millenials and Gen Z are to blame with their incessant online addiction but I recognize this is more about an economy that has been anemic since the recession and consumers who are still feeling the pinch and making different choices for those hard earned dollars.

From my consumer space I know if i can get a product online for $5 and I can go into Target and get it for $4 but I have to wait on a line for 30ish minutes -- I'll pay the extra $1 and have it delivered to an amazon locker.
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