275 7TH Ave 7th floor New York , NY 10001 email@example.com
Chelsea / Lower Manhattan
Daniel Cullinane CPA p 848-250-9587
Shoppers are in for steep discounts and promotions this holiday season. Many retailors are flush with inventory and eager to clear off store shelves. The presidential election will cause many consumers to delay holiday shopping until late Nov and Dec leading nervous merchants to slash prices to spur sales. Many merchants will have much to cheer about as their bottom line suffers, sinking them deeper into a hole they have been stuck in since the Great Recession. Retailers have not been able to avoid price cuts that consumers have come to expect reinforcing customers' tendency to wait for a better deal rather than paying full price
Shopping malls are increasingly turning into entertainment centers to lure customers and fill empty space many of them are saddled with. vacancy rates remain high for a large portion of the retail sector, especially malls, except for a handful of high end locfations that continue to attract large crowds. Drawing foot traffic: Wildly popular escape rooms, with interactive adventures in which participants are locked in a room and must solve clues in order to escape. High tech skydiving simulators. Rock climbing walls and indoor laser tag sites. Mall owners are also opening their doors to more temporary tenants, Pop-up shops, previously seen only around the holidays, are springing up year round. Think Kanye West's clothing stores based on his recent album. The Life of Pablo. More malls are destined to go out of business as online shopping continues to gain steam The most vulnerable are those in the industrial heartland.