Friday, March 20, 2009

American Malls will Survive

This post on RetailWire discusses how even though many people believe that the American mall is heading nowhere quick, chances are that they will survive, as the strong "get stronger."

David Simon, the chairman and chief executive of Simon Property Group, believes that malls will change in order to cope with the times. People are stepping into less and less stores inside malls now, and because of this malls will have to change their communication to customers to lure them into more stores. Simon also leaves with this notion, "seven of the top 10 tenants we had when we went public are no longer in business today, and yet we've been able to continue to grow our business because it's the real estate that retains the value over the long term." Interesting thoughts...

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