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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Retiring? Let Wilkerson Do the Heavy Lifting
Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift.
To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”