‘Experiential’ Tesla and iPhone Stores Aren’t Really Helping Battered Malls
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Mall owners have sung the praises of “experiential retail,” touting it as the savior of a sector battered by store closures and the shift to online shopping. It turns out the buzz may be a bit overblown.
A study by location-data firm Thasos Group shows that malls with a Tesla showroom, Apple store, Eataly or Starbucks Roastery -- retailers that offer shoppers a more hands-on experience -- don’t have much of an edge over centers without those shops. In fact, these properties trailed their more-traditional peers in foot traffic up until the end of last year.