Foot traffic is up 3.5%, and even sales are up a little at Minnesota's megamall. Retail Traffic Magazine gleans some lessons from the Mall's success.
Mall of America executive vice-president Maureen Bausch credits their continued success (even as malls around the U.S. crash and burn) to a conscious decision not to cut costs and to continue expanding its attractions.
From Retail Traffic: "In 2008, for example, the mall added six new rides to its Nickelodeon theme park, including the SpongeBob Square Pants Rock Bottom Plunge roller coaster and the Avatar Airbender, which features spinning seats on a giant swinging surfboard. The improvements cost somewhere in the neighborhood of $25 million. But Bausch says the price was worth it. She estimates that about 30 percent of the mall's annual visitors come specifically to visit the park, not to shop. But after they go on a couple of rides they might grab a bite to eat at one of the property's restaurants or catch a movie at the on-site movie theater or make an impulse purchase after passing a store window."
FULL STORY: The Mall of America Takes on the Great Recession
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