Making your location work

Q: I have been in the same mall location for around a decade now, but over the last few years traffic has really died down, and I am stuck in my lease for another year. Should I start planning a move to a higher traffic area, or is there something I can do to make this location work?

A: Yes, there is probably something can do to make your mall location work — get the rent lowered! Old locations should not demand the rent that new locations do. If lower expenses are not an option, you have to follow the traffic. Remember: Location, Location, Location. You have to either follow the money or spend more money to bring the traffic to you. By getting the rent lowered, you can free up more marketing dollars.

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avatar About Steve Pruitt

Steve Pruitt is founder and Senior Consultant of Blacks Retail Analysis and Blacks Consulting. With over 30 years of experience, Steve is one of the most respected merchandise analysts in the industry. His specialty is apparel merchandising and he has worked with clients in every sector of this category. Steve’s approach is highly customized; he tailors his analyses to the particular needs and market of each client. His work ties together the merchandising piece of the business with the client’s overall financial goals to increase sales and streamline operations. Steve is also a trusted general business consultant, known for his ability to help retailers plan growth and manage change.
 
Ask Steve about merchandise planning and strategy
561-727-8567
Steve@Blksretail.com
www.blacksretail.com
 
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