Chilliwack – For a change, a positive business story. Cottonwood Mall has been going through changing and challenging times. There has been plenty of criticism that shopping malls are “dead”.
Last week, the announcement came that Old Navy was en route to the Mall as part of the 2021 season. Save On Foods construction continues where the old Target/Zellers once stood.
Teresa Laynes with Cottonwood Mall wanted to calm some fears and correct some disinformation:
On the future…..
- There will be a total of 4 new retailers on/in the old Target footprint
- We have announced Save on Foods & now Old Navy- 2 more announcements coming in the near future (There is the long standng business rumour of Canadian Tire moving to the now empty Sears)
- All 4 new retailers will be opened in February of 2021
- Construction on a new retail pad between Burger King & Earls to begin soon. Site is already fenced. No retailers announced for the pad yet
- New ownership has a very strong vision for the property, and that will continue to unfold over the next few years.
On the loss of some of our retailers…..
Cottonwood is being hit particularly hard with many national brands “calling it quits” over the last few months. However, it’s very important to note that this is not a “Cottonwood” thing.
The retailers that have left are closing or restructuring their operations nationally.
The retail outlook for Cottonwood is positive.
Chilliwack is a very strong market with a positive story for potential retailers.
What is happening right now is the consequence of traditional retailers reacting too late, and too slowly to the impact of the internet on consumer shopping habits.
The industry is changing, not dying. Brands that have adapted are thriving in brick and mortar, and brick and mortar that adapts will attract those brands.
