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The Death of the Mall of Memphis

The Death of the Mall of Memphis. Urban Studies Senior Seminar Katherine Mauzy February 17, 2004. Data Collected:. Literature Census Information Crime Information Consumer Surveys Business Evaluations. Hypotheses:. Location Income Crime Surrounding businesses Competition

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The Death of the Mall of Memphis

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  1. The Death of the Mall of Memphis Urban Studies Senior Seminar Katherine Mauzy February 17, 2004

  2. Data Collected: • Literature • Census Information • Crime Information • Consumer Surveys • Business Evaluations

  3. Hypotheses: • Location • Income • Crime • Surrounding businesses • Competition • Proximity to competing malls • Tenants • Demographics • Income • Race

  4. What is a dead mall? • Annual sales per square foot is less than $150, or one-third the rate of sales at a successful mall • Characteristics of a dead mall: • Small size • Advancing age • Less affluent neighborhoods • Stiff competition • Middle or low-end stores • Vacancy • Located in first-ring suburbs

  5. Mall of Memphis 1982- December 24, 2003 4451 American Way Hickory Ridge 1981 6075 Winchester Road Oak Court 1988 530 Oak Court Drive- off of Poplar Avenue Southland 1966 1215 Southland Mall- off of Shelby Drive Malls Studied:

  6. LOCATION

  7. Perception of Crime • “I remember several of my friends in Memphis advising me not to take a date ice skating at the ‘Mall of Murder.’” • Kent Ahren, January 29, 2003 (www.deadmalls.com) • “A reputation for crime in the late 80's and the nickname "Mall of Murder" didn't help steer shoppers inside the stores of the Southeast Memphis mega mall.” • News Channel 3, December 23, 2003 • “I don’t shop at the Mall of Memphis because I don’t want to get shot or robbed when I go to the mall. It is supposed to be a realxing event.” • Elizabeth Winkelmann, April 16, 2004

  8. COMPETITION

  9. Loss of Tenants • Loss of anchor department stores, Dillard’s and JC Penny’s in 2001 • On closing day, only 13 of the 160 stores were still open

  10. DEMOGRAPHICS

  11. 1990 Median household income for the City of Memphis: $22,674 Median household income for the Mall of Memphis: $26,129 Mall of Memphis was 15% ABOVE the city of Memphis 2000 Median household income for the City of Memphis: $32,285 Median household income for the Mall of Memphis: $30,674 Mall of Memphis area is 5% BELOW the City of Memphis Income Comparison: 1990-2000

  12. Changing Race: White

  13. Changing Race: Hispanic

  14. Mall of Memphis…

  15. Mall of Memphis…

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