When Saks acquired the store in Greenwich, for example, it was formerly a Woolworth site. A tremendous amount of capital went into retrofitting and refurbishing the building according to municipal requirements and Saks' own standards. The prospect of national retailers opening in urban neighborhood settings can also stir up strong opposition from local politicians and independent retailers, says Wendy Leibmann, president of New York-based WSL Strategic Retail. That raises issues of traffic and competition with locally owned businesses. It's common for a lot of political consciousness to be raised when national retailers announce plans to move in.
Retailers have to be prepared to handle that.
Notwithstanding some bumps, experts are convinced that the revival of Main Street will continue. Like catalog shopping and on-line retailing, Main Street represents a viable alternative for reaching today's time poor shopper. At the same time, observers stress that there is still a need for recreational mall shopping, and that the rise of Main Street does not signal the demise of the regional center. I think the No. 1 factor in customer shopping patterns is maximizing or satisfying their shopping value and experience. Tremendous amounts of competition and over-storing have produced a climate where shoppers can be selective in where they can go to have their personal value proposition satisfied.