More On Retailing To Teenagers

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There was an interesting article by Eric Wilson in yesterday’s New York Times about retailers who target teenage shoppers. The full citation can be found at the end of this post.

Wilson notes that a recent study by the investment bank Piper Jaffray reported a 14% decline in spending by teenagers that was a “direct reflection of the economy.” Cost has become a much more important factor in teenager purchasing decisions.

Most importantly, Wilson notes that “as teenagers’ priorities rapidly shift away …

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Is Our Great Recession Saving Downtown Movie Theaters?

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About a year ago, I wrote that downtown movie theaters were increasingly in jeopardy because people were more and more watching movies at home. Lately, I have been asked if I still believed downtown cinemas were in trouble, since recent media reports indicated that:

  • Nationwide, movie attendance was up 21% in the first seven weeks of 2009
  • The National Association of Theatre Owners claims box office numbers climbed in five of the seven economic downturns that occurred over the past 40 years. …
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Recession Evils: Rumors and Facile Solutions

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In a recent newsletter of Red Bank’s RiverCenter, Nancy Adams properly admonished the rumor-mongers who, faster than the recession, can bring down a good business operation. I congratulate Nancy for her spunk. And in contrast to Lou Grant, a lot of us like spunk! I am so glad she told those idiots to shut up!

Let me take up a cudgel against an equal danger – the town leader, manager or guru who thinks they are on to an easy answer …

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“You never want a serious crisis to go to waste”

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Rahm Emanuel’s statement about not wasting a serious crisis was music to my ears and anyone committed to real change in their downtowns should keep it always in mind during this very trying recession.

Two of the socio-economic theorists I most admire, the American economist Mancur Olson and the French sociologist MIchel Crozier, forcefully argued that real change in most social, economic and political systems can only occur during a crisis. During the non-crisis periods they’ve become ossified, paralyzed, …

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The Apparel Niche and the Home & Hearth Niche: The Growing Importance of Independent Operators

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Introduction

The apparel niche and the home & hearth niche may seem unrelated, but they share several commonalities:

  • They are both particularly important to downtowns
  • They are both facing challenges, and
  • They will both be relying on the success of independent operators for their future well-being and growth.

Apparel

First, let’s consider apparel. This niche is important to downtowns because women are our most prominent and powerful shoppers (making 80% of the purchases for the home and family). And clothing, …

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