more goodies from the paper
We only get the Sunday edition of the Indianapolis Star, by the way; I ususally just check it out online. But I did catch a couple of interesting items in the print edition this morning:
HIGH-END RETAIL: NO MORE IN STORE?
Demographics make Indy a tough sell
Population, income not in top tier
Neiman Marcus, Tiffany & Co., Bloomingdale's, Lord & Taylor.
They're all around us: high-end retailers carrying designer labels, $1,000 shoes, $500 perfume and a splash of sophistication most Indianapolis malls have never known.
They're in Ohio, Michigan, even Kentucky. Taunting us. Tempting us to make weekend shopping trips.
They are, however, not here.
A broad offering of high-end shopping establishments has been missing from the city for decades. Customers have asked, even complained that Louisville, Ky., has a Lord & Taylor. Beachwood, Ohio, has a Neiman Marcus. Chicago? It has everything.
"I've even gone to Cincinnati for the Saks store there," said Yvonne Perkins, 53, a self-professed high-end shopaholic who regularly travels from her Northeastside home to Chicago and New York to get her fix. "There is definitely a void in Indianapolis."
The city just doesn't have the economic muscle, a strong concentration of high-income residents or the sheer population that retailers want to surround their stores.
This observation, of course, ties in with the paper's earlier notations (as pointed out by Cooped Up) that chain restaurants (with their higher name recognition and lower overhead due to economies of scale) seem to be driving out locally owned upscale eateries.
(continued in the next post)