Retailers are moving back downtown. So comes the results of a survey AMR Research conducted for the National Retail Federation.
Retail real estate executives surveyed (there were 43 of them) say that retailers plan to have 11 percent of their stores in urban street-front locations by the end of the year, compared with 8 percent last year. As a result, retailers have cut back just slightly on mall and strip mall locations.
Of course, anybody who lives in a city knows this already, but it’s nice to have the numbers to back up the reality of what all of us see on the streets of our hometowns.
It’s not as if malls are drying up and shutting down, but consumers like walking in the open air in smaller locales. Malls got too gosh-darn big. By growing and growing, the mall venue — which once was loved by consumers for its convenience — grew increasingly inconvenient.
It makes you wonder what malls will do to adjust.
When you’re alone, and life is making you lonely
You can always go
When you’ve got worries, all the noise and hurry
Seems to help, I know
Just listen to the music of the traffic in the city,
Linger on the sidewalk where the neon signs are pretty
How can you lose? The lights are much brighter there…
You can forget all your troubles; forget all your cares, and go
Downtown — things will be great when you’re
Downtown — you’ll find a place for sure
Downtown — everything’s waiting for you
Author: Tony Hatch. Song popularized by Petula Clark. Lyrics above are partial.