Congratulations to Vicksburg Mall!
January 30, 2012 by Andy Weiner
All the Hard Work Paid Off!!
We are thrilled that one of our projects in Mississippi, the Vicksburg Mall was awarded 2011 Small Business of the Quarter and Small Business of the Year!! Congratulations to Mike Carlisle, the mall manager, and all the businesses that make Vicksburg Mall.
TJ Maxx Opens Store at Vicksburg Plaza
January 15, 2012 by Andy Weiner
What Exciting News for Vicksburg Plaza!
Weiner Development Company and the Vicksburg Plaza would like to welcome TJ Maxx as a new tenant with an estimated opening May 2012.
The Great Consumer Crash of 2009
February 12, 2010 by Andy Weiner
As a result of the Panic of 2008 and the Great Recession, we are in a five to ten year period where the consumer has dramatically slowed down consumption. James Quinn, Sr. Director of Strategic Planning at the Wharton School of Finance, provides an excellent analysis of the new frugal consumer with his article “The Great Consumer Crash of 2009″. As a result of this consumer crash, we have seen dramatic falls in same-store sales across most segments of retail, with the largest decreases associated with the more discretionary spending categories. In addition, retailers have lowered their inventory levels on average 15%-20% since 2008 and have shifted their assortments to more opening price point products and private label. The impact of a more frugal consumer for the shopping center industry has been a combination of retailer bankruptcies and pressures to lower rent. A must read article.
Tracking the U.S. Consumer
February 12, 2010 by Andy Weiner
The U.S. Consumer will continue to be stressed. Robert Ohmes describes 10 metrics tracking the consumer. Two measures that affect the shopping center industry are the savings rates and consumer credit. As can be seen in Chart 10 on Page 4, the savings rate has gone from a 1%-2% rate in 2005-2008 to a 4%-5% rate in the last year. The implications of higher savings include: lower personal consumption with the greatest impact on discretionary spending categories and more funds available in facilitating government debt. Consumer credit (chart 12, page 5) has fallen since 2008 (for the first time since 1988) as credit card issuers tighten lending criteria. Less credit card spending capacity again affects more big-ticket items and discretionary categories.