
After spending a long day on the computer yesterday, I decided to take a trip to our city mall with the famn damily last night. OMG!
The place is becoming a ghost town. The mall itself is anchored by some larger chain stores, like Sears, JCPenny, Macy’s, and Circuit City.
As you know by now, Circuit City is going out of business, so there will be one less major chain anchoring our glorious mall.
But as I walked through the mall itself, I counted no less than 15 empty spaces! Now there was always one or two locations empty, but I have never seen it so empty. Granted, there are still plenty of stores, but the number seems to be dropping regularily!
I usually avoid the mall at all costs and shop locally when I can, so I notice things most don’t because they are there so often. Another store with a large location that is finacial troubles is Old Navy. These large stores that have large space leaving is a potential problem for the mall management companies, as they rely on rent ot pay the bills. I do not see any real effort to get new businesses into the mall itself, and the number of large chain stores to replace the ones leaving are shrinking.
Stores I once thought to be bulletproof are falling fast. Linen’s and Things was another store in town that recently left, leaving a huge location completely empty, with no signs of anyone moving in. What scares me is that in my mall, the smaller locations inside are not being filled either, so I cannot even justify the fact that maybe they will break up the large locations into smaller ones…as no one wants them.
Our economy is changing, and pretty soon we will all be shopping at Wal-Mart’s and Home Depot’s for everything in our lives!
But with every bad situation, there is a silver lining. With the larger stores vanishing, the smaller niche stores now have an opportunity to re-emerge and prosper.
Take Circuit City for example. Granted, they ran all of the smaller computer and electronics stores out of business, but NOW someone with some guts and a plan could now open a specialty computer store and do quite well. They could sell only computers and computer related items, with a good friendly and knowledable staff, and do extremely well(IMO).
It is also an opportunity for us as ‘offliners’ to help exisiting and start-up businesses in our community realize their potential and position themselves so that they can pick up the slack from these failed chain stores.
Just food for thought…