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Posts with tag malls

It's the end of the mall as we know it

Filed under: Shopping

Last weekend, I went to the Westfield Galleria in Roseville, a suburb of Sacramento, to check out the grand opening of its new wing of stores.

I guess Westfield has a lot of confidence that Roseville is recession-proof and residents still have money to spend -- the new shops included Louis Vuitton, Lush Cosmetics, H&M and Hot Topic. New stores opening there next year include Tiffany and Burberry. The stores were crowded but most people simply ogled, then exited empty-handed (I did my part to prop up the economy by buying a $6 Bath Bomb at Lush).

Global recession notwithstanding, Westfield also opened a humungous mall in London this month, even though Brits say they don't like shopping in malls. Simultaneously, Dubai is crowing about being home to the world's largest mall, with 600 retailers. Meanwhile back here in the U.S., home to more than 2,000 shopping malls, retailers are going out of business right and left, leaving darkened windows and abandoned space behind. Malls now seem more appealing to skateboarders than shoppers as a place to cruise. So are they on their way to extinction?

Retailers target teens to ride out recession

Filed under: Kids and Money, Shopping, Recession

Watch out! Major retailers believe they have found a "recession proof" group of shoppers -- your teenager.

In a bid to avoid the closing of stores at malls nationwide, retailers are looking to capitalize on the influence teens have over household purchases. They believe that middle class teens won't feel the affects of a recession. Research shows that teens influence 90% of grocery and apparel purchases. Many stores are changing displays and using big names to lure a trend conscious younger market in their doors. The hope is that parents will come along too and buy items as well, further boosting the stores sales in an otherwise difficult time.

I see several issues with this strategy, one, which USA Today points out, is that children typically do not shop in the same stores their parents do. Call it rebellion or a strange fashion sense, but the last place most teenagers want to go is the same store their mom just bought a pantsuit at.

The second issue is, even teenagers who can't drive don't like to go shopping with their parents. Growing up, my sister and I would beg to be dropped off at the local mall with cash or mom's credit card rather than be forced to try on a plethora of clothes with mom in tow. If teens don't want to be in the same building, let alone the same store with their parents retailers will have difficulty raking in the extra impulse buys from parents.

Finally, if your teenager is influencing 90% of the grocery and apparel purchases for your household, you better be raking in the cash, because from my personal experience, teens tend to have expensive taste in clothing and food. Next time you head to the grocery store leave Johnny at home and during your next trip to the mall, show Suzy where TJ Maxx is.

It's a bad time to be a mallrat!

Filed under: Kids and Money, Shopping

I don't like to brag about past achievements, but sometimes I just have to flash my cultural credentials. You see, I'm a pioneer.

Growing up in Northern Virginia in the late 1970's and early 1980's, I witnessed the creation of one of Fairfax county's greatest malls: Fair Oaks. Located on the grounds of a former dairy farm, Fair Oaks was a regional shopping Mecca and a prime example of the early "commercial palace" type of mall. It featured glass elevators, stone floors and dozens of other features that made shoppers feel sophisticated, as if they'd just stepped off the set of Dynasty. Best of all, it was my kingdom.

You see, I was part of Fair Oaks' first generation of mallrats. My official turf was Hoffritz Cutlery, the knife store where I worked for much of my high school career, but I roamed far and wide through the mall. I had friends in dozens of stores and was always aware of the latest sales, store closings, and mall events. I did my homework in the seating courts, ate many of my meals in the chain restaurants, and did most of my socializing while walking from store to store. On some rare occasions, I even deigned to spend my money within Fair Oaks' hallowed walls.