Hi Guys-I will add what I know. Mall operations are constantly churning-new people come,old people go. I just renewed a lease in a property that we have operated in for 21 yrs. We have seen a gazillion concepts come and go.
I remember when the first GAP moved in, the first Victoria's Secrets. Remember Montgomery Ward's?
How indpendent framers have gone out of business in the last 20 yrs? Man, I can think of a ton in this market and I'm sure most can, also. Remember Montiel's, Ben Franklin's, Old America?
Market's change and the enterprising retailer does his best to adapt. I remember just 10 yrs ago that our Marketing Plan baically was to make sure the doors opened by 10am and that the lights were on. It really was that easy.
The last 5 yrs has been much, much diffeent and it started about 10 yrs ago. But most of us, us included, thought that rainbow would never end.
But, the market changed
10 yrs ago there weren't any Michael's in our market, there weren't any Jo-Anne's, No Craftmarts, a few Aaron Bros. We pretty much snickered at most of them ("who would go to these junk/crap merchants when they get all my expertise, design and customer service?"). Kind of like a lot of us still do now.
Well, today in my market there are aound 12 Michael's (2 within 4 miles radius), a whole bunch of CraftMarts and Joanne's, Aaron Bros have great nice new clean stores in great locations.
We have chosen Mall Locations simply because it is the marketing I know and it has worked handsomely for us. I know many would love to see us fall flat on our faces, I don't know why anyone delights in another's failure. I hope Prints Plus works it out- alot of suppliers and people wil be hurt if they do not. Competition makes us all play a little harder and a little smarter.
I have never recommended mall locations to all those that have sought my assistance in site locations. Most simply do not have the necessaries. But, I have always counseled to get the best location available, regardless of rent. Greater sales opportunities come with greater locations.
Market shifts to open air malls simply indicate another change in marketing attempts. People like change and developers simply like to do what cosumers like (Man, is that a lesson we all ought to learn).
Does that signal a demise of regional malls?
I guess if you thought Michael's wouldn't be much a factor 10 yrs ago.
We need to probably get out of the "tea leaves" reading business.
I did enjoy Diane's comment about "lot's of volume but no interesting challenges". I wonder how many of us would gladly give up a little challenge for a lot of volume.
And those responses will most assuredly define the difference between those that think like framers and those that think like businesspeople. We probably do 90% of our work that would be defined avolume and 10% as challenging.
We could not survive on the challenging alone
Rick-I understand your wistful remembrance, but that stuff is in your rear view mirror. I remember that favorite Hamburger joint where you went in and ordered at a counter and waited 10 minutes and sat in old school-style chairs and ate it there. they counter gal pulled a pencil out of her bee-hive hairdo,after wiping her hands on her apron, and wrote up the order. She took your money then went back anc cooked your burger. Today that would probably violate about 10 health code regs.
They got put out of biz by someone that got put out of biz by Burger Chef that got put out of biz by McDonald's
Life goes on