Make the mall work for you.
Jim Cramer, host of CNBC’s Mad Money, says shopping malls aren’t dead — but there’s a harsh truth that retailers must face.
The fact is that “the mall’s rent is too expensive for all but the most exclusive specialty retailers,” he says. For mass-market stuff, people would rather order online, in many cases from Amazon.com.
That’s bad news for the big guys like Macy’s and Kohl’s. But it’s fine for you as long as you can position yourself as a high-end retailer.
According to Cramer: “Everyone is too cheap to shop at the mall. It’s just too inconvenient unless you are uber-wealthy and need to see the ultra-luxury wares in person before buying them.”
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