News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

NOCHE

Northeast Ohio Medical University


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Belden Village, Great Northern malls part of a $1.6 billion sale
Analyst says bricks and mortar stores are seeing a bit of a rebound
by WKSU's M.L. SCHULTZE


Web Editor
M.L. Schultze
 
Retail sales in traditional stores are starting to make a comeback, if they specialize and if they recognize how to use e-commerce.
Courtesy of Creativecommons
Download (WKSU Only)
In The Region:

Great Northern Mall in North Olmstead and Belden Village Mall in Stark County are part of a group of seven malls that are being sold by the world’s largest shopping-center operator. WKSU’s M.L. Schultze has more on who’s in the market for brick-and-mortar malls in these growing days of e-commerce.

LISTEN: The balance of e-commerce and traditional stores

Other options:
Windows Media / MP3 Download (1:04)


Starwood Capital Group is paying Westfield Group $1.6 billion for the seven malls, which also include one in Toledo. 

The malls are primarily in the Midwest, are lower performing and have more limited in options when it comes to redevelopment.

Chris Christopher  is a retail analyst for IHS Global. The firm doesn’t comment on particular companies, but he says traditional retail is seeing a bit of a resurgence, with new retail construction finally coming out of the recession.

“All this being said, Americans spend less time shopping on the weekends and holidays in part because of ecommerce retail sales is approximately 5.8 percent of total retail trade…. But in addition, people’s income is not increasing as much as it used to between 2002 and let’s say 2006.”

Christopher says shopping centers that specialize  in luxury goods – or conversely in discount stores – are doing better than those that offer a traditional mix of stores.

Last year, Westfield sold seven other U.S. malls to Starwood for $1 billion. And it sold a half-interest in six Florida malls in March to another investor for $700 million.

Here's an extended Q&A with Chris Christopher of IHS Global about the challenges of retail:
Signs of recovery for retail, even with e-commerce looming

Other options:
Windows Media / MP3 Download
(3:16)


Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Ohio to appeal ruling keeping Akron's red light cameras in place
I don't understand what all the fuss is about. If you don't like tickets drive the speed limit and stop at red lights. It's really all up to you.

Who's on public assistance in Ohio?
legalize marijuana get over it,,, its here its been the main drug test scare of a lifetime. u got people that get drunk every night and work u got peoples on ...

Letters from a lost friend: A Beachwood survivor's Holocaust remembrance
What a great story -- and how important it was for both Marlene and her mother to tell it! Thank you.

Ohio lawmaker calls for an East Cleveland bailout
Instead of blaming Kasich and the Republicans for all of East Cleveland's fiscal woes, take a look at the facts. Some political entities in Ohio are too small ...

Legalized marijuana is a boon for a Cleveland-area grow light maker
Shouldn't he be in jail for paraphernalia? He knows he is selling for marijuana production.

Akron city council to vote on resolution for hiring ex-offenders
Great as a taxpayer I paid for the police to catch them, the free lawyer, the jail to house them , the food their kids eat the medical for them and all its goin...

5 of 8 rule headed for a vote
this is just another way for kasich to pass the buck and claim that it gives the local districts control. Few schools have enough money because of his cuts. T...

A passionate debate about parole in Ohio
I was heartened to hear that the legislators will consider ANY legislation to break the chains the parole board has put on these old law offenders who have serv...

Bill would allow Ohio religious leaders to refuse to do gay marriages
This is just a lot of political posturing. The free exercise clause of the 1st Amendment already protects clergy from being forced by civil authorities to perfo...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University