The Shops of Grand River will include 54 outlet stores, and developers believe it will be successful because it is different from anything else in the area.
"This center is unique to the area," sad Doug Neil, the Vice President of Development for Daniel Corporation. "The outlet center format allows the brands to communicate with consumer, and offer savvy shoppers great value, great brands, and great prices."
UAB's retail expert, Mickey Gee, said the market can still absorb some new shopping centers, and that it is not surprising to see all the new development in the current economy because costs are low. However, he said consumers are still guarding their money and store owners will have to target people who value convenience.
"In the retail business, it's all about product, price, promotion, and place," said Gee. "The first three P's have been taken care of. So now, it's all about place. Retailers are trying to move goods to consumer with hopes they will become the most convenient retailer."
Gee said he remains hopeful the economy will pick up in the 4th quarter of the year, and that will bring an additional boost to these new shopping centers.
SOURCE: WBRC FOX6 By Emily Luxen
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