Malls have been a long time norm when it comes to retail shopping. However, that norm has been changing over the past couple of years. Many malls have been struggling to hold on to customers and increase its amount of consumer shoppers. The Westfield Santa Anita in Arcadia, CA has been the exception to the revelation that malls have been struggling financially. The Westfield Santa Anita has tried a new approach to counter struggling sales by focusing more on the large Asian community in Arcadia. The Los Angeles times reports:
Since October 2015, Westfield Santa Anita has brought in 26 new retailers and restaurants, about two-thirds of which — 16 stores — originated in Asia or are Asian-flavored.
It is a smart move that separates the Westfield Santa Anita from the other malls that have the same conventional stores such as Sears and Nordstrom, among others. Britt Beemer, founder of America’s Research Group, stated:
The malls of the future will be much more diverse than the malls of the past, when every mall had a J.C. Penney or Sears… The only way to win in the long term is to become different, and one way is appeal to an ethnic group.
Maybe more malls will follow this strategy of focusing on ethnic communities to reverse the almost 30% decrease in consumer’s shopping at malls that has occurred over the last five years.
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