One of the defining features of our economy in the past few decades has been the growth and expansion of luxury retailers. And for almost as long as we’ve been in business, we’ve focused on appealing to the luxury retailing customer. Again, this involved overcoming threshold resistance. Because while comparatively few people can afford to do all their shopping at high-end stores like Tiffany’s or Neiman Marcus, a lot of people can afford to do some of their shopping at such stores. That’s why the world of fashion has expanded so rapidly. In the shopping center business, we classify certain anchor tenants as “fashion” department stores. For example, Neiman Marcus and Saks Fifth Avenue are fashion department stores. Sears and JCPenney, better known for housewares and hard goods, are not. Nor are Marshall Field’s or Macy’s, which are classified as “full-line” department stores. They sell all categories of department store-type merchandise, shorthanded in the retailing business as DSTM.
What do You think about Threshold Resistance (2007)?
