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Anchor store
From Wikipedia, the free encyclopedia
In retail, an anchor store or draw tenant is one of the larger stores in a shopping mall, usually a department store or a major retail chain.
When the planned shopping mall format was developed by Victor Gruen in the mid-1950s, signing larger department stores was necessary for the financial stability of the projects, and to draw retail traffic that would result in visits to the smaller stores in the mall as well. Anchors generally have their rents heavily discounted, and may even receive cash inducements from the mall to remain open. In physical configuration, anchor stores are normally located as far from each other as possible to maximize the amount of traffic exposure for other stores when shoppers walk from one anchor to another.
Early on, grocery stores were a common type of anchor store, since they are visited often. However, research on consumer behavior revealed that most trips to the grocery store did not result in visits to surrounding shops. As of 2005, the declining popularity of old-line department stores makes it necessary for mall management companies to consider re-anchoring with other retail alternatives, or mix commercial development with residential development to guarantee a captive clientele.
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