When I saw the headline,' The future of shopping...I assumed that it would mean shopping centers! But alas I was once again not only in the wrong church but even in the wrong pew.
The Dallas ( Texas) Morning News ran a story(8-21-09) about retail space.
It focused on " retailers who are scrambling to adjust to a new consumers reality.""
The so called new frugality has hit high-end retailers the hardest and current sales trends say they're not coming back strong any time soon." And," they are adjusting and adjusting fact said," Herb Weitzman.
However, conspicuous consumption by the baby boomers may well be a thing of the past.
"Right-sizing,less-is-more and mobility seem to be a prevalent (retail) philosophy today.
From what I have seen in several malls and centers,in New England, recently is more and more vacancies of high-end to low-end retailers.
When people have less and less disposable income they spend less!
To me " right sizing" smacks no more extra large, extraneously expensive floor space space, and implies, at least to me, a continued path the retail space "down-sizing."
Because of the marvels of the Internet I also believe we'll see more down-sizing of floor space from service firms. Most service related business folks and most professionals now just need a vehicle, cell phone" and a laptop.
We're all going mobile.
This, in my opinion, is a trend we all need to continue watching
BIll McInerney
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