One of my biggest concerns for this town is the noticeable decline of retail commerce in Media. This week a retail business on State Street is closing its doors. The sign in the windows says retirement sale, but if you've ever stopped in and talked to some of these store owners, you'll find that "retirement" is often forced due to lagging sales. A lot of these stores are challenged by high rent and low foot traffic.I knew Media when you could buy a new car, baseball cards, dress shoes, a camera and football cleats all in the same day........within walking distance of each store. Heck, at one time you could even buy a gun on State Street at the location that is now the Golden Impulse. Retail in this town is a fraction of what it was 20 years ago, but that's not to say storefronts are empty; they've adapted and transformed into bars, restaurants and service establishments. Unless you're a speciality store with unique products that aren't easily purchased over the internet or at a boxstore, you have a fighting chance. If not, your best bet is to be a bank, beauty salon or have a liquor license.
This is true across the US. Retail is now having more and more to do with "clicks" rather than "bricks". A huge reason the Granite Run Mall is hurting so badly.
ReplyDeletethis store was a bad fit for Media- It essentially had one product with a VERY high price point...Hope its replaced with something fun!
ReplyDeleteI don't think it's the internet that's killing small businesses on State Street. The shops themselves are great but trying to find parking in the vicinity of State Street just plain stinks. The truncated business hours most of these places observe don't help either. The only people those shops seem to cater to are those who live/work within walking distance of State Street. It's really too bad!
ReplyDeleteThis shop was never open during Dining Under the Stars or other special events (Super Sunday, Blues Stroll, etc.) when many shops remain open into the evening to bring in new customers; I rarely (maybe never?) saw any sandwich board signage or anything on the street encouraging customers to come in. I have lived in the borough for years but never stepped foot inside this shop, though I frequent Local, Earth & State and other small shops in town. It's not just about blaming lagging sales on outside factors -- shop owners need to actually DO something to increase their sales. Some succeed; some fail. That's retail!
ReplyDeleteI seem to recall the owner of this shop was a transplant from New York who was featured in a Main Line Today (or similiar magazine) article. She paid a ton of money for a Troll Brothers-like house at "Traymore" in Rose Valley and opened this shop. Seemed like more of a hobby for her than a business she relied on to pay the bills. If you don't have that fire in your belly, you're going to fail.
ReplyDeleteAs for parking, get over it. Sorry you cannot park directly in front of the business you are patronizing. Find a spot and walk around! You might pass by some other interesting stores which you can visit on the spot or next time you're in Media. State Street is not a mall. Deal with it.
Never quite understood the business model for this place.
ReplyDeleteI suspect that there are many reasons why businesses fail but would have to point the finger first at high rents. The cost of merchandise has gone way down over the years as China and other countries have imported their cheap products here. Wages are of course "stagnant" so not much has changed there. Just because bars and restaurants are open doesn't mean they are thriving. More bars will close as the DUI topic continues to squeeze patrons into staying at home. Dining out is not cheap either. The key to thriving is to offer the customers something they can't get online, give great service and of course great products. Many businesses thrive in Europe because their owners have had their locations in the family for years and years eliminating the prime cause for poor profits. What do you think?
ReplyDeleteThe rent question is very interesting. I'm not sure if the rents are too high if folks keep starting new businesses in locations where the high rent may have contributed to the failure of the prior business. Having to figure out how much rent one can afford, along with a million other factors, is why I have a lot of respect for anybody that can make a small business thrive.
DeleteJoe, your arguments are too logical and even keeled for some commenters on this site. Can you somehow reword what you said so that it incorporates some gripe against Media Democrats and/or complains about the Third Street Bridge?
DeleteThe ridiculously, high rents and increases are pushing retailers off of State St. It's been a problem for 20 years. I live here and love to shop here. But some of the stores on State St. are overpriced and have to be to stay in business. I miss the old Media. We had a shoe store, The Thrift Way, sporting goods and not so many drunks running around. OK, we got Trader Joe's, and I love them. But they are pricey. If the property owners would stop jacking everyone's rent year after year it would be great. I have also worked at several businesses on State St. over the past 20 years and the places that are left have the same complaint, poor property management and rental increases.Stupid strikes and Media Real Estate.
ReplyDeleteAnon @ 9:45pm. Once one retail renter vacates another is not far behind in filling the vacancy. Most of the property owners have long paid off their mortgages so if they go without rent for a month or two, no big deal to them. As long as someone is lined up to pay those high rents, the rents will remain high.
DeleteWhen is the head shop moving to town? Business in that place will be smoking!
ReplyDeleteWe totally need a head shop! Stickers, glass and love!
DeleteYeah, unfortunately the days of the butcher, baker, and candlestick maker are over. I miss Media Hardware. And Richard's Travels was great. The guy who ran that store was a pleasure to talk to and knew his stuff.
ReplyDeleteRent is the biggest problem. If landlords would stop playing real life Monopoly then more stores would have a fighting chance. But the short answer is greediness and a lack of appreciation of quality. People would rather go to Walmart to buy some junk. Remember back in the day some things used to have 30 year warranties? It's funny, the amount of time that the IRS assigns to certain depreciable items is longer than the thing actually lasts.
i like her stuff but the hours are problematic
ReplyDelete