Retail is so important to cities, and for many reasons. Shops provide essential goods and services, a certain level of entertainment and are the all-important source of sales taxes! So, when the local mall or power center is lagging, and anchors close leaving smaller shops struggling to survive, the retail environment can plunge into a downward spiral.
This article cites the trend towards downtown retail, and away from suburban locations. It is a phenomenon I see occurring here is Utah, and the many retail closings predicted for 2017 will likely accelerate the process. Sears, Limited Express, Macy’s, and recently Bebe – all closing stores or closing down entirely. What do you think? Is this a fundamental shift in the economy and shopping habits? Is online shopping to blame? Or, is there something deeper occurring?