Shopping Centers in Decline in U.S.

I’d like to have your comments about the continuing decline of shopping centers in U.S.

Bloomberg, IBM and Reis are reporting, the price of square ft. of shopping center space is declining faster than in decades.
  • Consumers are not using their credit cards as before
  • People are becoming more conservative in their buying habits
  • More the 50 % of U.S citizens have less money for consumption
  • Credit card use is becoming more selective and conservative
  • People go to traditional stores they have a feeling for
  • Consumers don’t change shop very easily
  • Innovation doesn’t seem to be the thing for the present
  • People watch their money spending with greater care
  • More responsible buying habits

Trends

  • Less is more
  • Green is better
  • Low cost is high on the purchasing list
  • People don’t mind about the brands as before
  • Interior decoration isn’t a big thing for the moment
  • Eating out is fading away: slow food at home is becoming popular
  • Less entertainment, travel and home electronics
  • Spending less on media and fashion (clothes)
  • Food is important – more money spent on food
  • The price of food is rising

Time line estimate

  • This recession will last longer than any present recession
  • Most recessions have faded withing a year
  • The present recession will continue for three years

What about other countries?

  • How about Finland?
  • Stockmann’s sales in Moscow is growing
  • How about Europe?
  • Some positive signs in Germany and France?
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