Sunday, July 23, 2006

Retail Location: Malls and Towns

Malls are scrambling to find new anchor tenants. Department stores are no longer an attraction for many shoppers, so malls are recruiting restaurants and big box discounters like Target to generate traffic. "New" downtowns are cited as the hot retail location.

Obviously the "location location location" for retail changes over time, so what's a smart retailer to do? Work toward making your business a destination in itself. That way you won't rely on other magnets to draw traffic. Build the very best inventory of products in your niche, update it constantly, and you'll be on your way.