4 Dept stores closing-90% sales-and this is NOT a recession?

[belovenow]

Originally Posted by StillwaterTownie

This situation does not reflect a deteriorating economy or Bush. Instead, it merely reflects a national trend that consumers are growing sick and tired of enclosed shopping malls and the inconvenience of getting into them from the parking lots. The smaller stores are especially unhandy to get to. Neither do people like the bother it takes to get to the upper level stores. People now much prefer going to the strip malls. Both the large and small stores are easier to get to from the parking lots.

I've never heard or read of this before. I am genuinely curious (as an entrepreneur about to open up something of direct relevance). Where did you read this or hear of this? I'll go out and search on my own but would appreciate it if you could point me to your sources of information.

Thanks in advance.

Regarding the OP's topic - I would definitely state that the US is in some interesting economic times right now. Not necessarily the textbook definition of a recession... but the poor and middle-class do seem to be tightening their belts spending-wise. I would in any case not rely upon the media nor the government to tell you when a recession begins... they're clueless and obligated to never make such an announcement as the announcement itself would cause panic and repercussions that would make things worse.

[NewToCA]

It is actually a well documented evolution, from malls towards "power centers"

Hamilton Marketplace: The Future of Shopping | Mercer Business | Find Articles at BNET.com

[Lincolnian]

There are mixed signals in the marketplace. The educated shopper doesn't want to get ripped off when they watch the news and keep hearing how bad things are so they will wait to get a better deal if they're not in a hurry.

I went to the Mall of New Hampshire yesterday. You would have thought it was Christmas shopping season. The traffic was horrendous inside and out. People carrying many bags. There were some pretty good discounts on winter items.

I stopped to look for a new cell phone and teenagers were in there with parents laying down $399 for an I-Phone plus accessories like it was no big deal.

In my home state of Connecticut people evidently didn't knock the retailers dead at Christmas but business has been pretty good lately. I think a lot of people are out using their gift cards to take advantage of the discounts. I know many people who received them for Christmas.

Department stores and other retailers are definitely impacted by media hype one way or another. Those retailers that are part of larger organizations can weather the storm better than the smaller ones. That's why there has been so much consolidation and why everywhere you go it's pretty much the same thing!