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Retailers, consumers and prices

December 9th, 2008

Check Out Line: Hanging at the mall not so fun

Posted by: Ben Klayman

shopCheck out how consumers feel about shopping at malls.

Auto dealers and reporters are popular targets for hate mail. But mall operators may have reason to fear joining them if a new study conducted by the University of Pennsylvania Wharton School and the Verde Group, a market research consultancy, is to be believed.

Almost eight of every 10 people surveyed faced a problem at the mall, citing such issues as a limited choice of places to eat, lack of variety of stores, parking difficulties and a shortage of restrooms.

But keeping shoppers happy will be critical this holiday shopping season.

U.S. consumers, who spend an average of $150 per mall visit according to the study, have curtailed shopping due to the recession, the weak U.S. housing market and high food costs, raising concerns about holiday sales. More and more people are scared about their jobs — another factor in the spending slowdown.

“These findings should be a call to action for mall developers who are failing to quench this thirst for excitement,” said Wharton Professor Stephen Hoch in a statement. “Malls can’t be mundane in this economic climate.”

Mall operators, already struggling to lure shoppers, are facing a dwindling pool of retail tenants, as many bankrupt stores like Steve & Barry’s have begun to shut their doors.

Also in the basket:

Kroger 4th-qtr outlook disappoints; shares fall

Jarden sees 2009 revenue in excess of $5 billion

Restraint Feel Right, Doesn’t It (New York Times)

Happy Holidays! But Don’t Expect Too Much From Santa Claus (Wall Street Journal)

(Photo/Reuters)

October 20th, 2008

Happy shopping, and watch out for mall shootings

Posted by: Sarah Coffey

mall-shooting.jpg    The holidays are right around the corner, and the National Retail Federation has visions of tinsel, mistletoe and mall shootings on their mind.
    The NRF and International Council of Shopping Centers on Monday released guidelines to help retailers prepare for shooting incidents at shopping malls and retail stores.
    A joint effort with the U.S. Department of Homeland Security and retailers, the plan deals with an “active shooter,” or individual actively engaged in killing or attempting to kill people in a confined and populated area.
    “We live in a dangerous world and the stakes keep getting higher,” say the guidelines.
         The guidelines warn that a shooter may be a troubled current or former employee, or related to an associate with domestic problems.  
    They also encourage employees to create an escape plan and be aware that law enforcement first responders may show up in bulletproof vests and Kevlar helmets and be carrying rifles, shotguns or handguns, and might use pepper spray.  
    Only as a last resort when your life is in danger, the guidelines say, “Attempt to incapacitate the active shooter. Act with physical aggression and throw items at the active shooter.”  

    Some facts of note:
    - In 100 percent of the shootings the suspect was male.
    - In over 71 percent of the incidents, the shooter was between the ages of 15-25, with 20 percent ages 50-60.
    - In 24 percent of the shootings, the shooter committed suicide before police were able to respond.
     - Active shooter situations are often over within 10 to 15 minutes.    

     From 2004 through 2008 there were 17 shooting incidents at U.S. shopping malls and retail stores, with 34 killed and 33 wounded, according to the NRF. 

(Photo/Reuters)