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Ezl t1_j7uudqn wrote

Reply to comment by bodhipooh in Uniqlo is coming to the Newport mall - Apple should come as well by coliji

Agree regarding apple, but in a way in think malls like Newport may be more successful in the long run than “destination” malls.

Mall traffic generally has been declining for a while but, due to its location, Newport is really a combination of traditional mall and local neighborhood shopping in a fairly convenient (and walkable) location. I wonder if that will help them overcome the problems higher-end malls that require a “special trip” suffer from.

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objectimpermanence t1_j7vstn3 wrote

The high-end, “special trip” malls are doing the best. Upper income people are doing better than ever and they still want to buy luxury goods like Louis Vuitton bags in person.

It’s the lower and mid-tier malls that are struggling. The middle class is getting squeezed and people are happy to shift their spending to online shopping in search of deals.

I agree that Newport seems to be doing fairly well for itself. And I think the fact that it’s in a walkable area with good transit access is a big part of that.

But it will be interesting to see what happens if/when Newport loses its anchor tenants (Sears, JCPenny, & Macy’s). Those anchor tenants occupy huge spaces that are hard to re-lease.

Vacant anchor spaces are a huge financial drag on a mall and if that happens at Newport it will probably spur the complete redevelopment of the mall into a more modern mixed used concept.

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bodhipooh t1_j7v7kw2 wrote

>I wonder if that will help them overcome the problems higher-end malls that require a “special trip” suffer from.

Meh... Neither Short Hills nor Riverside Square seem to be suffering much at all, and they are exactly the type of mall you describe higher-end which require a special trip. They keep attracting luxury brand stores that cater to an affluent demographic that is less affected by economic downturns. I very much doubt anyone (besides you) would agree that Newport is likely to be more successful in the long run than either one.

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Ezl t1_j7vee6n wrote

First of all, what drives mall failures isn’t the economy it’s the internet. Secondly, malls are closing nationally at a rapid pace regardless of your two examples. And third, I never compared Newport to either of those two, I (quite obviously) compared Newport to the malls that are failing nationwide.

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bodhipooh t1_j7votqq wrote

Yes, shitty malls all over the nation are closing down. High end malls are doing just fine.

>I (quite obviously) compared Newport to the malls that are failing nationwide.

Well, not so obviously... you literally wrote "I wonder if that will help them overcome the problems higher-end malls that require a “special trip” suffer from" - higher end malls are not shutting down. if you read past the click-bait headlines you would actually understand that the contraction in malls is happening to low- and mid-tier malls. What the industry calls/terms C and D malls, and to some extent also B-rated malls. A and A+ malls are doing fine and actually seeing growth and expansion. You are simply wrong, but sure... you were obviously comparing Newport to failing malls and not the higher-end ones that require a special trip and which are actually not failing.

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Ezl t1_j7wklhu wrote

Jesus. Reddit never fails at attracting idiots who will create an argument out of nothing.

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