Can Malls Change Fast Enough to Stay Relevant? ~via @Cheddar #CheddarLIVE
View the full segment here.
Department stores are struggling in the current retail environment, and they may be taking malls down with them. The Reciprocal Easement Agreements, otherwise known as REAs, are contracts between malls and department stores. These agreements keep landlords beholden to retail giants on any decision regarding the mall, including changes to parking lots, and which stores can come in. Ted Rubin, CMO of Brand Innovators and Co-Founder of Prevailing Path joins Cheddar to explain why he is so bearish on major retail stores, and what malls can do to survive.
