Oct 6, 2008 6:11 pm US/Central
Mall Of America: Bright Spot In Dark Economy
BLOOMINGTON, Minn. (WCCO) ―
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Day after day of doom and gloom economic news hasn't kept shoppers away from the Mall of America. (File)
Getty/AFP/Getty Images
There is a sliver of light in all this darkness of a failing economy and falling stock market: the Mall of America is seeing an uptick in sales.
"I was at the Mall of America last Saturday and it was packed. You could hardly find a place to park," said Mall of America Public Relations Director Daniel Jasper.
Day after day of doom and gloom economic news hasn't kept shoppers away from the Mall of America.
"It's not stopping me," said shopper Martha MacAlpine. "We still have money to buy clothes and shoes and things like that."
A Mall of America spokesperson said sales are up 5 percent from last year at this time. Stores catering to the middle class and high-end shops are fairing best.
"We're not recession-proof but we're recession-resistant because we have such a wide, diverse population of people who come here, not only people from the Twin Cities or Minnesota or the Upper Midwest but actually from all over the country," Jasper said.
And even the world, with one group shopping from Costa Rica.
"We think it's a great place. You find all kind of shops in the same place, it's easier," said tourist Melania Campos, who said she spent $600.
But not all stores at MOA are immune to the tough economic times.
"You've got some down days. It seems like the weekends aren't quite what they were last year," said Field of Dreams Sports Memorabilia owner Linda Caruaso.
So owners, like Caruaso, are taking steps to lure more shoppers in, like special sales.
"Lots of clothing bargains where I'm getting $20 off, half off," said MacAlpine. "In fact, sometimes I'll go in and buy a couple more T-shirts because of the good sales."
And that's what retailers are banking on.
According to the Minnesota Retailers Association sales statewide are down 3 to 4 percent. They hope the recent lower gas prices will give shoppers more disposable income to spend on the sales which aren't normally seen this time of year.
They say Halloween sales are better than expected and that's usually a good indication of what Christmas numbers will be. Even so, they are still predicting a slumping holiday shopping season.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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