Poll Results On Downtown Macy’s
Just over half (50.77%) the readers who voted in the poll last week felt the closing of the downtown Macy’s will have a negative/very negative affect on downtown. Here are the results:
Q: How will Macy’s closing their downtown location affect downtown St. Louis in the long-term?
- Negatively 47 [36.15%]
- Neutral 43 [33.08%]
- Very negatively 19 [14.62%]
- Positively 11 [8.46%]
- Unsure/No Answer 6 [4.62%]
- Very positively 4 [3.08%]
Here’s my take (not spin): I specifically included “in the long-term” in the question because I think the short-term effect will be negative, but will be neutral in the long-term. How long is long-term? I’d say 8-10 years, in this case.
Cities/neighborhoods are resilient places, provided they don’t pass a tipping point. For many of us that live downtown, Macy’s just wasn’t that important. I personally bought more from Macys.com than in the Macy’s store. When Macy’s closed both restaurants in the consolidation to 3 floors a couple of years ago I no longer had a reason to visit. Previously I’d attend a monthly lunch in the St. Louis Room, then browse the kitchenware section afterwards, often making a purchase.
On the positive side I see the void as opening up the market so another retailer might consider a new store. The new urban CityTarget format comes to mind:
The Chicago store is housed in a 113-year old historical landmark constructed by architect Louis Sullivan in the heart of the city at the corner of State and Madison Streets. Nearby retailers include H&M, Forever 21, Office Depot, Nordstrom Rack, Sears and T.J. Maxx.
CityTarget stores are more expensive to operate and build, as they are housed in pre-existing spaces, Schindele said. In Chicago, for example, Target had to rip out old floors and strip dozens of coats of paint off of columns to give the store the CityTarget look.
CityTarget shelves are bright white rather than almond-colored. Mannequins, tested in one Target store, and brushed silver racks are used to display clothing. In a first for the Target chain, music plays in the Chicago and Seattle locations. (Huffington Post)
CityTarget stores are also located in Seattle, Los Angeles (2), San Francisco. Additional CityTarget locations are planned for Boston & Portland OR, with additional stores in LA and SF.
Last month, in a different conference call, Target chief financial officer John Mulligan said the company was “very excited” about the CityTarget concept.
Target plans to open three more this year, Mulligan said. “And then, we’ve said all along, we’ll pause,” Mulligan said. “We’re pretty thoughtful about things like this. So we’re going to pause in 2014 and evaluate where we are at.” (Minneapolis-St. Paul Business Journal)
So even if Target can be interested it’ll be a while before it would happen. Other retailers might see an opportunity in the meantime.
— Steve Patterson