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Trump will end NAFTA which will allow American manufacturing to come back (obviously not to NJ because of how it is governed). A boost to American manufacturing I believe will keep retail afloat. But who knows maybe retail won't die either way, Americans love being consumers enough to keep these malls from having to shut the doors.
Also doesn't seem to know much about retail trade, manufacturing, supply chain logistics, among other things.
Retail thrives. It's just moving away from its 20th century incarnation into its 21st century identity. Many companies married to 20th century ways will not survive the changes. New companies will take their places.
Malls will continue to exist, to the extent they provide consumers with a showroom, a chance to see products, sample or test products, and consume advertising. Whether or not consumers buy products there and carry them home is almost immaterial.
Also doesn't seem to know much about retail trade, manufacturing, supply chain logistics, among other things.
Retail thrives. It's just moving away from its 20th century incarnation into its 21st century identity. Many companies married to 20th century ways will not survive the changes. New companies will take their places.
Malls will continue to exist, to the extent they provide consumers with a showroom, a chance to see products, sample or test products, and consume advertising. Whether or not consumers buy products there and carry them home is almost immaterial.
+1
Seemingly against all odds, Macy's has been thriving of late, and this is most likely the result of their robust "buy online, pick-up in a brick and mortar store" business. A visit to virtually any Macy's store nowadays will reveal long lines at the new pickup counters for those who placed online orders. Even at the otherwise crappy Woodbridge Mall, the lines at Macy's pickup counters are... impressive.
Our little one level Mall has been chugging along for years. They are remodeling and moving stores around they added Dicks into the old JC Pennies building a year ago.
Our little one level Mall has been chugging along for years. They are remodeling and moving stores around they added Dicks into the old JC Pennies building a year ago.
I prefer to go shopping then buy my stuff online.
Think about that! Malls are a thing of the past,yes there be here for a little longer but not much. On line is killing off brick and mortar slow but surely.
NEW YORK, March 14, 2018 /PRNewswire/ -- With retail sales increasing 3.5 percent in 2017, compared to a gross domestic product growth rate of 2.3 percent the same year, the retail sector is showing signs of healthy growth thus the so-called 'retail apocalypse' is a myth, according to a new study from Deloitte. The study, "The great retail bifurcation: Why the retail "apocalypse" is really a renaissance," found that the retail sector is healthy and shows strong signs of growth. Rather than a battle of online against brick-and mortar, Deloitte found that retail is changing in line with consumer income bifurcation, with both high-end and price-conscious retailers seeing revenues soar, growing 81 percent and 37 percent, respectively, while those in the middle realized a mere 2 percent increase in sales over the past five years.
"Despite the popular narrative, the 'retail apocalypse' is far from reality," said Kasey Lobaugh, principal, Deloitte Consulting LLP and the report's lead author. "Brick-and-mortar retail is not on or near its deathbed. In fact, we're seeing retailers open new stores at an astounding pace, and physical retail is growing alongside digital. Rather than witnessing the demise of retail, our study shows a dramatic change in line with the impact of consumer bifurcation along economic lines. While specific retailers may see an apocalypse, others see opportunity."
Quote:
Originally Posted by CaptainNJ
malls will not all close down. they will have to adapt and offer more experiences and entertainment mixed in with shopping. also being combined with residential on the same property would be helpful.
To answer the OP's question, I wholeheartedly agree with CaptainNJ here.
Specific to New Jersey, I think it depends on the particular mall. I think Riverside Square Mall in New Jersey has responded to the changes in people's mall preferences the most effectively by putting in a new AMC movie theater. Furthermore, there are now high-end luxury rentals right next to that mall. Willowbrook Mall has given their mall a face-lift and added a Dave & Busters in recent years. Bridgewater Commons and Garden State Plaza have added AMC movie theaters over the past decade or so. Personally, I believe these malls have adapted to or taken the necessary steps to begin the process of adapting to shopper's preferences, and I believe these malls will continue to be successful long-term.
You then have others, such as Rockaway Townsquare Mall and The Mall at Short Hills, that have done less to cater to shopper's evolving preferences, but still have things going for it. Rockaway Townsquare Mall does have nice a movie theater by AMC not connected to the mall, but right by it. Furthermore, for people living in central and western Morris, western Passaic, Sussex, and Warren Counties, Rockaway Townsquare Mall is the most convenient shopping area and a less crowded alternative to Willowbrook. The Mall at Short Hills continues to offer wealthier consumers stores they can afford.
There are other malls where I believe the future is less certain. Paramus Park Mall has failed to cater to evolving consumer demands, and Livingston Mall is located in a wealthy zip code, yet lacks the shopping choices of Short Hills.
The bottom line: I believe that while smaller indoor malls like the old Ledgewood Mall and Wayne Hills Mall will continue to close and some larger ones may as well, malls that do better are in a better position to evolve and will do so. The trend, at least right now, is outdoor malls are gaining popularity.
Malls are coming up even while others are closing down. The company that is building the huge one in Secaucus (American Dream Meadowlands) is also building one in Miami.
So far visiting a mall meant some family time and shopping. But the customer group had started to split where the families didnt necessarily all go to the mall together. With online retailing proving quite effective it is now combining same day delivery with Uber kind of services and no questions asked returns. Thus 'shopping for needs' will move more online. Online has one disadvantage it can only fit so many products on screen as the available screen space. With phones becoming a major eCommerce gateway display space is limited as is scale. It also means no ambiance to experience.
Yet a lot of people will continue to visit malls for entertainment and as family time out. This is where the convergence can happen. Malls of future should cater to people who take day trips for rides and parks. A lot of passive and active shopping will happen. Another thing companies need to focus on is the merchandise they put on for sale in a mall vs online. If you are selling products worth less than $10 and a $500 under the same roof as well as online then you are definitely not attracting the same customer through both the mediums. Companies should start targeting their discounts and products differently for online vs mall sale.
Also malls need to be reinvented to accommodate activity and hobby classes and geared towards kids friendly activities to attract the whole family. Right from golfers improving their drive to painting with wine, kumon centers, bakery lessons, remote control car contests, making models and prototypes classes. In short products for sale or peripheral products should be combined with related activities or services.
Bridgewater Commons and Garden State Plaza have added AMC movie theaters over the past decade or so.
I don't know about the movie theater at Garden State Plaza, but the one at Bridgewater Commons has been there for at least 20 years, and--possibly--as long as 25 years.
there is no way i can buy an evening gown online. if they build a neiman marcus i will shop. (seriously, not kidding)
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Malls are a thing of the past,yes there be here for a little longer but not much. On line is killing off brick and mortar slow but surely.
Malls of tomorrow
