sixrings
Senior Member
People who shop at Yorkdale probably don't describe people as "folks.". On the other hand people who work at Yorkdale probably do.
Big anchors are dying off in part because of Apple Stores, believe it or not. They (Apple Stores) draw in just as much foot traffic as the giant anchors, leaving many to wonder why they're giving so much space and huge rent discounts to the anchors, when a relatively small store can do the same. They're starting to give Apple discounts on rent, and hike up rent for others (including the big boxes). And why not? It makes them more money and frees up more space for other retail.
One should also measure revenue/visit in a Apple Store. What are the likelihood that a visit to an Apple Store will result in a purchase?
Also, it make sense if you are building a new mall to make a decision on the size of your anchor shop, and if you can achieve the same foot traffic with a smaller anchor, but existing malls won't have that luxury simply because there arnt enough high floor traffic/space stores like apple to fill the same size that a Sears will take up.
Lastly, you also need to do research on the number of actual people who visit malls for the Apple Store, or if they are simply strolling into an Apple Store as they walk pass one In between shopping for other things like clothes.
If number says malls with Apple Store drive 10% more foot traffic than malls without apple stores, then the statistic is garbage and useless because there are many other factors that could have made the malls with apple stores 10% more attractive. For the statistic to make sense, you will need to find the seasonally and economic cycle adjusted numbers for before and after the introduction of an Apple Store for a mall that had not gone through any other material changes during the same period.
I suspect the numbers won't be 10%.
...and yet, Scarborough Town Centre is the largest shopping mall in Toronto that does not have an Apple Store.
It is interesting that Lawrence Square is located within a short walking distance of Yorkdale. Yorkdale mainly has high-end retailers, while Lawrence Square mainly has low-end retailers.
Low end is putting it mildly.
...and yet, Scarborough Town Centre is the largest shopping mall in Toronto that does not have an Apple Store.
Once the next expansion opens Yorkdale will be the largest again.
I believe Lawrence Square is just sitting on the land waiting for redevelopment.
I guess it really is the beginning of the end for the mall era.I got a similar feeling walking around Woodbine Center recently. With one anchor dead before it even opened (Target), another limping along with a terminal wound (Sears), a third looking to go more upscale (Hudson's Bay), and lots of off-brand independent stores and few big name/big draw stores (unless phone stores count) that mall is one step away from turning a vacant anchor into a flea market, and going the way of Honeydale in a slow agonizing death.
The only thing keeping that from happening right now seems to be the vastly overpriced Fantasy Fun Fair. Their aggressively costly per-ride pricing forces parents into buying day passes, but if their business model only works if they force day passes, it doesn't bode well. It can subsidize the poorly performing retail only so long. Either they need to scrap most of the retail, invest big time and go *all* indoor fun park or somehow attract better stores; both of which seem big hills to climb. Without the support of an Oxford or Cadillac-Fairview, I don't see either happening.
Is Yorkdale the biggest if you include the Bay Store as part of the Eaton Centre?