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If anything keeps mall owner Kemper Freeman up at night, it certainly isn’t e-commerce, Freeman tells The Wall Street Journal. Freeman, owner of Bellevue (Wash.) Square, argues that e-commerce is “not our enemy,” but on the contrary is complementary to physical retail. He cites the opening of stores by such online merchants as Amazon, Blue Nile, Peloton, and even Apple and Microsoft. Of the $3.4 trillion in retail sales in 2016, just 11 percent, or $400 billion, was conducted online, he says — without noting that even a large part of those online sales involved physical retailers.
People will always want to come to shopping centers that are appealing places to visit, with easy parking and helpful staff, he argues. Which is why he putting his money where his mouth is, and planning a multi-million dollar expansion of Bellevue Square.
By Edmund Mander
Director, Editor-In-Chief/SCT
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