03-30-2016, 12:22 PM
(03-30-2016, 01:16 AM)Lens Wrote: That does bode well for Fairview Park though. In my experience Masonville was probably the more dominant mall in London and it looks like CF is making it into a larger, regional mall. One thing I will note is that London appears to get many more national and Toronto area chains than Waterloo Region. Perhaps market researchers look at the size of the city and compare it to the smaller size of our cities not taking into account the much larger metropolitan area we have. Anyone else notice this trend?
Keep in mind that we got an Apple Store at Conestoga Mall before one opened in Masonville in London.
In retailing, Apple is arguably the most sought after retailer for a shopping centre.
On a sales per square foot basis showing productivity, Conestoga is ahead of Fairview Park Mall. Conestoga currently does sales $800 per square foot while Fairview Park does $617 per square foot. I think Conestoga appeals to a wider variety of shoppers because of the good mix of stores. It is the only Regional mall to still have an attached grocery store, pharmacy, book store, bank, and (standalone) movie theatre in addition to the typical mid to upper range mall stores. Most regional malls got rid of grocery stores decades ago as they fell out of fashion, but with current trends in retailing, it's smart to have a grocery anchor in your development. I think the popularity of Winners in the mall helps too. A full line grocery store, pharmacy (with post office) and bank right in the mall help with attracting shoppers more on a weekly basis rather than a monthly basis, which help draw spin off visits to the other stores.