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My adult daughter and I just returned from checking out the new Target and TJMaxx in Morrisville. While I understand that the Raleigh Cary area has not been hit as hard by the recession (I was laid off so YES! there is a recession going on!) I was stunned by the crowds. Target was crowded, but I was there to purchase some essential groceries and most other shoppers were doing the same. Out of curiousity, we went into TJMaxx. The place was VERY crowded. And the register lines were long. People were buying not "just looking". My daughter even joked that people were acting like they had never been in a TJMaxx before, yet there are several in the area (Cary being on of the locations). I guess people still have money to burn???
It's the same at the TJMaxx/Homegoods in Apex, and some of the people in there are clearly regulars because they know the staff by name and the staff knows them (ie "Joe, would you bring this up front and then stand by to bring it out to my car?" "Sure, Mrs. Smith"). Now there are some deals to be had there, for sure, and they are smart enough to change the goods seasonally - but really! I just don't like to shop that much! Sometimes I wonder how much gets brought home and then returned, though.
I will say that maybe people are just checking out the Park West thing because it's brand new.
I know a lot of people that don't have money to burn but they are in denial and justify their wants as needs. Since they "need" it, they charge it on credit.
I'd certainly expect places to Target and TJ Maxx to do well in about any economy. Same with Wal-Mart. The people going there already shopping at these places, they were just driving to Southpoint, Apex, etc. before. Now they save money shopping closer to home.
Yes, I just went past the Target off Morris ville Parkway because I live in Preston. It was so packed I decided to wait for another day. I usually go to the Target and Pet smart in Apex but now we have one closer.I just have to stop myself from going to Target everyday because I am a Target addict.
Note that Target and especially TJMaxx are somewhat "bargain" establishments, so you would expect their business to pick up in a recession. If it were the "high-end" places that were buzzing, that would be more unusual.
Also, as fast as the population is growing in this area (especially Cary), it may just mean there aren't enough stores to fill the ever-increasing need, so the stores that are there are always busy. Obviously something like groceries is something everyone needs to buy at generally the same frequency no matter how up or down the economy is, so I would not use grocery(-type) stores as a marker for how much discretionary income people have. Hang out near an electronics or jewelry store as a better gauge for that.
There is quite a bit of pent up demand for a Target in that area as going to Brier Creek or Beaver Creek are both decent distances away. I imagine there are quite a few people going just because of the newness though.
Kind of hard to say a shopping center delayed 2 years in an area with the demo surrounding Park West has not been affected by the economy.
Just an FYI, but the Cary TJ Maxx has moved to the Park West location. It's not there anymore!
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