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It used to be something of a truism that if a mall had a Tesla dealership and an Apple Store, it had a much better odds of being successful.

Now, 9to5Mac has a story about a new study suggesting that things ain’t what they used to be.

“Analytics firm Thasos says that foot traffic at US malls has been dropping since last August, except for a small uptick during the holidays,” the story says. “Meanwhile, data from Coresight shows that almost 6,000 retail stores have closed so far in 2019, more than the amount during all of 2018.

Notably, strong brands like Apple and Tesla are often believed by landlords to increase consumer traffic and are given better deals on leases. However, Thasos’ latest data shows that hasn’t been the case lately and that landlords are likely overpaying for brands like Apple and Tesla.

His firm found malls with so-called experiential tenants that aren’t just focused on selling products, like Apple, Italian food hall Eataly and Tesla, haven’t been drawing in extra traffic.”
KC's View:
It was less than a year ago that we had a story about how former JC Penney CEO Mike Ullman, at a conference on economic disruption, disputed projections from some quarters that roughly 25 percent of the nation’s 1,200 malls will close because of online competition and shifting consumer shopping habits. It will, Ullman said, be much worse - and he expected only 300 malls might actually survive … and they’d be the nones with either an Apple Store or a Tesla store. Or, preferably, both.

Just goes to show how fast things are changing.