What’s in Store at the Mall?

"Rolling out identical retail formats is history," says Richard Watson in Retail Therapy.

Federated's recent acquisition of May Company will help prove Watson right. Real estate developers are excited by the fact that 68 of the nearly 400 May stores will be closed. Why? New space in old malls means developers can reinvigorate their properties with a variety of shopping options that will get your attention. We're talking much more than simply replacing one department store with another.

Pop-Up Shop: Before finding a permanent retailer to sign the lease, developers might have Vacant camp out for a few weeks. Vacant opens up in empty spaces for one month at a time before moving on to the next city. This exclusive, temporary and deliberate concept is known as pop-up retail and it tends to leave consumers wanting more. Everyone from Meow Mix and Crown Royal Whisky to more conventional retailers like Target and JC Penney are creating pop-up stores.

Anchors Away: Rather than replacing the closing May stores with another major department store, developers can lure a non-traditional anchor to their space. From sporting goods stores offering rock climbing and doing fishing demos in two-story, glass-walled tanks to massive stores selling nothing but baby products, there are endless possibilities.

Bigger Boxes: Previously free-standing, big box retailers like Wal-Mart are morphing their stores to attach them to malls. This growth strategy will redefine one-stop shopping.

And these are just shopping concepts. As enclosed malls aim to compete with open-air lifestyle centers, new restaurants and entertainment options are being unveiled to get, and keep, your attention.

What kind of new space do you want to see in your local mall? What would it take to get you to stop by and spend some time? Speak up!

Happy anniversary FC Now. What a difference a year makes. Since helping celebrate BlogJam 2004, I’ve switched jobs and immersed myself in a completely new industry. Can you guess which one?