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521 posts

Ultimate Geek
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Topic # 223856 20-Oct-2017 14:51

When I visit a mall it is obvious that shops such as 2 degrees, Spark, and Vodafone are busy and actually selling stuff.    However, if you sit down at the food court for a coffee and watch some of the small speciality shops it's a different story.    Some of those shops will have 2 or  3 staff, and often in a 15 or 20 minute period they might sell nothing at all.    Almost always they will have a few people wander in browse and leave.   You get a feeling for how much they would have to sell in an hour just to pay for staff wages, let alone the mall rent, compulsory shop refits and the like.   I guess Westfield have calculated rents versus 'churn' of retail spaces & have it fine tuned to their maximum advantage.


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Uber Geek
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  Reply # 1887007 20-Oct-2017 15:05
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Obviously money laundering.


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Uber Geek
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  Reply # 1887009 20-Oct-2017 15:09
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or for residency

 

 


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Uber Geek
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  Reply # 1887022 20-Oct-2017 15:26
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Hopefully "the shopping mall" concept will die or be killed-off by online shopping.  I hate the places.

 

 


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Ultimate Geek
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  Reply # 1887045 20-Oct-2017 16:14
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Not in a mall, but I walk past this shop every day in Victoria Street, Wellington and wonder how they can possibly stay in business - https://lonelylabel.com/stores#wellington


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  Reply # 1887049 20-Oct-2017 16:25
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allan:

 

Not in a mall, but I walk past this shop every day in Victoria Street, Wellington and wonder how they can possibly stay in business - https://lonelylabel.com/stores#wellington

 

 

 

 

Maybe they haven't yet implemented their full business model - they're going to monetise the website as a soft-porn site?


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  Reply # 1887050 20-Oct-2017 16:30
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Weird coincidence. I was in a mall this morning and wondered exactly the same thing! Mall rent wouldn't be cheap. Commercial miracles before our eyes.


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  Reply # 1887051 20-Oct-2017 16:36
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I am guessing malls would rather there be a store, rather than just an empty space. I believe some store pay a percentage of their turnover to the mall, so some stores may have been a good deal on the rent. You also don't really know how much business they do via online shops, which may subsidize the physical store. There is a place for shops when it comes to sizing of clothes and shoes, due to the size differences. Also many shops do the bulk of their business in the months leading up to xmas, and then at sale times, as that seems to be the retail business model in NZ for many stores


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  Reply # 1887052 20-Oct-2017 16:36
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wellygary:

 

or for residency

 

 

 

This one here I could say is very close

 

Linux


gzt

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  Reply # 1887082 20-Oct-2017 18:04
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A long lease and several staff in a mall is an unlikely choice for a residency application. Expensive compared to other options.

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  Reply # 1887100 20-Oct-2017 19:23
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Fred99:

Hopefully "the shopping mall" concept will die or be killed-off by online shopping.  I hate the places.


 


Everyone to their own.




Regards,

Old3eyes


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  Reply # 1887104 20-Oct-2017 19:35
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It's the small clothing boutiques that particularly puzzle me.

 

There are a few of them in prime locations (Malls and Lambton Quay etc) that whenever I walk past seem to have about ten dresses, three staff, and no customers. Given wages, rent, power, taxes, and other overheads etc I can't see how they can possibly break even without a gross margin of more than $150/hr (call it $400/hr in sales on a markup of 100% giving a margin of 50% for profitability), and I can't see how they could possibly sell enough to do that.




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Ultimate Geek
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  Reply # 1887135 20-Oct-2017 21:13

Thanks for the interesting replies.


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Master Geek
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  Reply # 1887140 20-Oct-2017 21:24
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Use to work next to a mechanics workshop run by Koreans, probably got the odd car or 2 a day for a WOF and that was it, shop had a hoist but otherwise was pretty much bare inside.

Owner drove a Maserati and wore probably an ingot worth of gold.

Definitely laundering.

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  Reply # 1887174 20-Oct-2017 23:07
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Also you might just never be there at their busy times, which might be when you are working etc.





Richard rich.ms

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