Shopping centres must be creative if Hudson’s Bay stores liquidate their anchor locations.
The opinion comes from an expert in consumer behaviour at Western University in London, Ont.
Prof. Jamie Hyodo believes it will be a challenge, but not an impossible task to repurpose stand-alone and mall locations.
His opinion comes as shoppers across the country visit the iconic store facing what might be its final days in operation.
“It’s sad. It’s very sad,” remarked Karen Lau, outside the White Oaks Mall location of Hudson’s Bay in London Ont.
Like many over 40, Lau has deep ties to Hudson’s Bay.
“My mum worked at the Bay, in the menswear area, and that’s the only store we shopped at.”
But with the rise of e-commerce and specialty competition, the Bay lost its edge.
In recent years, the chain reduced the hours of the White Oaks location, one of two in London, to 11 a.m. to 7 p.m.
The locked doors are not appealing to mall customers, especially a younger generation of shoppers, who do not view The Bay as iconic.
“They don’t have anything good, in my opinion, that suits me for clothes,” shared Taylor Banks.
While anchor department stores may be on life-support with a new generation, Hyodo states shopping malls are far from dead.
However, he contends, they must be innovative in the face of the turmoil at Hudson’s Bay, tariffs, and a possible recession.
“It depends a lot on what the mall operators do with that space. I think that today’s consumers are really interested in experiential consumption. There needs to be some creativity in terms of who comes in because there isn’t another big store that will take over that real estate.”
Possible examples include restaurants and entertainment spaces, like those that took over the former Target Store and Sears store at Masonville Place in London.
But for those who will forever love Hudson’s Bay, whatever might be next just won’t be the same.
“The Bay’s an institution in Canada, so it’s going to be disappointing if it’s closed,” said Susan Coyne.
“It’s sad, but we have to adjust to everything that’s coming our way these days,” added Dianne Goddeeris.
And upon learning that The Bay stretches back to 1670, even Banks acknowledged the potential loss for the country.
“Wow, I didn’t know it’s been around for that long. That’s pretty crazy! But that’s the thing, you know, Canada is changing, the world is changing. And there’s nothing we can really do. “
