Luxury, low price mix as some malls blend merchants

By Lorrie Grant, USA TODAY
2 February 2005

Mall developer Westfield Group will announce Wednesday that it plans to
include "cheap chic" discounter Target (TGT) alongside Neiman Marcus (NMGA)
and Nordstrom (JWN) as one of five anchors at a high-end mall it is
redeveloping in Los Angeles' San Fernando Valley.

The $300 million redevelopment of the Westfield Shoppingtown Topanga mall is
to be complete next year.

The move reflects a growing trend in retailing to experiment with bringing
what have been mostly freestanding "big-box merchants" -- from discounters
such as Target to specialty retailers such as Best Buy (BBY) or Bed Bath &
Beyond (BBBY) -- into malls as anchors.

The idea of mixing a luxury experience with low-price convenience under the
same roof reflects widespread acceptance of discount shopping.

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We are SCREAMING for new merchandise to shop for. Good or bad, we are CONSUMERS and want variety. "Consumer surveys continue to register department store complaints about too much sameness in merchandise, cluttered stores and poor customer service.
Sales at department stores open at least a year nudged up just 1.6% last
year, and that was the first gain since 2001, according to Redbook Research.

Department stores are trying to help themselves by doing more to
differentiate themselves -- and by acquiring competitors."