Website shows Dillard's and Belk as Galleria anchors
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#1 Aug 17, 2013
ANOTHER mall in D'Iberville? Edgewater is a quarter empty. The D'Iberville strip mall by Walmart is 1/3 empty. Who in the hell is gonna come here? If they open this it'll just call layoffs in Edgewater. Its bad enough down there as is.
Singing River is trying to turn itself into a new Crossroads -- who in the hell is gonna go here? We're already past market saturation. We don't need any more retail, we need LESS retail.
Ocean Springs downtown is competing with this & Pascagoula downtown & now with Gautier's Singing River Mall area -- everybody wants a cut of the retail pie & there are only so many dollars out there.
They're overbuilding, & everybody is going to get hosed.
#2 Aug 18, 2013
It is called market forces. Would you be against a COSTCO moving into this area? It would put the whammy on Sam's club, which I would love to see. But alas, it is rumored to be coming to Mobile soon. Yes I will go to Mobile to shop at COSTCO.
#3 Aug 18, 2013
You're thinking of it the wrong way & you're making an error in that you're assuming an economy of scale. Sam's Club & Costco are marginal players. Most people who live in the 3 coastal counties are still going to shop @ the local dollar stores or grocery stores or Walmart even if they put a Costco in D'Iberville.
The thing about malls is that its more of a 'balanced' market than big name stores. Its kinda like the coast casino market, which is tightly regulated by the state gaming commission & other regulators. The reason we don't allow every swinging d**k to put a casino up here on the coast is because it would dilute the overall market(look @ the expansion in Arkansas & Louisiana) & cause established players to go out of business & reduce investment in the coast market.
A better way of putting it -- the market has reached its maximum structural expansion limit. At this point any growth that comes -- comes at the expense of others -- the market is cannabalizing itself.
You understand the concept of 'market caps'-- right? Meaning market sizes are only so big. After they reach their upper limit -- where we are @ now --- then you don't actually get growth.
It just feeds off itself. Stores in Jackson County & Biloxi will go out of business. D'Iberville will temporarily gain but even then they're just going to cut sales over at the Promenade & by Walmart.
You understand what I'm saying? In business calculus/economics math you have "x" amount of dollars & its not growing. The coast gaming market -- in nominal terms, not even adjusted for inflation has peaked. Gulf Coast gaming revenues still haven't gotten back in nominal terms to 2007 levels.
We have fewer unique gaming dollars & tourists/gamblers than we had in 07 because regional markets are growing & eating into our market share.
What I'm saying is -- there's no growth left in the coast retail market, it'll just be the various players -- Sangani & now Mandal, who I guess is that car salesman guy, fighting over an every shrinking pie.
Wages are falling, revenues are falling, gamblers coming here are fewer. There's no growth left.
You can't just build something when your net revenues are falling, that's business 101 -- that's why a saturated market feeds off itself. When you have too much of something prices fall. If D'Iberville builds a mall -- it'll cannabalize the Gautier & Gulfport market.
That's not competition, that's localized mercantalism & a "mature" market that can't grow any more feeding off itself to stay alive.
#4 Aug 18, 2013
Basically what you're saying is "let the market grow."
What I'm saying is "its not growing any more, regional cities are just fighting for a piece of the pie."
The market won't grow any further because fewer tourists & gamers are coming to the coast. Locals will just be the ones blowing their money there, enriching a few while making a lot of people lose their jobs.
#5 Feb 2, 2014
"The D'Iberville strip mall by Walmart is 1/3 empty"
lmao...you got this one wrong....
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