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The Hard Truth About Shopping Malls (and Why It’s Not All Bad)

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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.

CNBC notes that people still “won’t dish $10,000 for a pair of earrings without seeing them in person.”

Apart from that, Cramer says, “Everyone is too cheap to shop at the mall.”

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Wilkerson Testimonials | Sollberger’s

Going Out of Business Is an Emotional Journey. Wilkerson Is There to Make It Easier.

Jaki Cowan, the owner of Sollberger’s in Ridgeland, MS, decided the time was right to close up shop. The experience, she says, was like going into the great unknown. There were so many questions about the way to handle the store’s going-out-of-business sale. Luckily for Cowan, Wilkerson made the transition easier and managed everything, from marketing to markdowns.

“They think of everything that you don’t have the time to think of,” she says of the Wilkerson team that was assigned to manage the sale. And it was a total success, with financial goals met by Christmas with another sale month left to go.

Wilkerson even had a plan to manage things while Covid-19 restrictions were still in place. This included limiting the number of shoppers, masking and taking temperatures upon entrance. “We did everything we could to make the staff and public feel as safe as possible.”

Does she recommend Wilkerson to other retailers thinking of retiring, liquidating or selling excess merchandise? Absolutely. “If you are considering going out of business, it’s obviously an emotional journey. But truly rest assured that you’re in good hands with Wilkerson.”

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