The death of the department store and the American middle class


The death of the department store and the American middle class


The collapse of America’s middle class crushed department stores. Amazon and the pandemic are the final blows.

In a New Jersey suburb seven miles west of Midtown Manhattan, the American Dream is on shaky ground.

The Dream in question isn’t the mythological notion that upward social mobility is within reach for all hardworking Americans. It’s a $5 billion, 3 million-square-foot shopping and entertainment complex in East Rutherford featuring an indoor ski slope, an ice-skating rink, and a Nickelodeon-branded amusement park. The complex finally opened last fall, but it’s now facing huge new challenges...
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RSK: Long but good article. Half way through they discuss Madison, WI and possible redevelopment plans for East & West Towne Malls. We need to start looking at this for redevelopment which will include housing and Amazon, Walmart & Target pick-up points.

Ken Notes: I hope the middle class predictions are not true, but there is little doubt it will take an experience to bring people to any retail store.

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- - Volume: 8 - WEEK: 49 Date: 12/1/2020 8:34:54 AM -