Wednesday, December 22, 2010
This trend appears to be picking up speed as 1) urban markets remain relatively undeveloped for many big boxes, 2) zoning laws continue to restrict new mega-sized buildings, and 3) same store sales remain relatively flat even for newer big boxes.
Here's another story discussing the somewhat oxymoronic situation of smaller, big boxes:
Retailers have been following the growth of the suburbs for decades, setting up in shopping centers and big-box strip malls far outside the core of major American cities. Department stores that stayed in big-city downtowns have suffered. Others didn't stay -- they closed up altogether.
But a reversal of that trend is becoming apparent. Big-box retailers -- companies that built their discount businesses out where land was cheap and space was plentiful -- are now moving inward.
Both Wal-Mart and Target are prime examples of big-box stores with big-city plans. They're aiming at the likes of Chicago, Los Angeles, New York, Seattle and Washington, D.C.
Chad Emerson, Faulkner