Macy’s to open smaller concept store in Las Vegas
Macy’s is planning to open a new small-format store this fall at Arroyo Market Square in Las Vegas.
The new concept stores are between 30,000 and 50,000 square feet and offer an “immersive shopping experience” and convenience for shoppers, according to a news release from the retailer. The stores will feature a “curated assortment” of clothing, beauty products, luxury fragrances and more.
Macy’s said the stores will collaborate with local businesses to create pop-up shops and events that cater to customers.
The retailer currently has five locations in the Las Vegas Valley: Meadows Mall, Fashion Show mall on the Strip, Downtown Summerlin, Chinatown and Galleria at Sunset in Henderson.
Two other small-format stores, one in Boston and one in San Diego, will also open this fall, and one in Highland, Indiana, has already opened.
Macy’s is following in the footsteps of other retail giants such as Nordstrom and Target in opening smaller locations in more urban-dense locations. Brick-and-mortar shopping took a massive hit during the COVID-19 pandemic, having already lost a substantial amount of revenue to online shopping.
“As a growth vector for Macy’s, Inc., small-format stores offer a curated shopping experience celebrating discovery and convenience. These stores optimize our physical store footprint and bring us closer to existing and desired customers while encouraging more frequent visits,” Macy’s Chief Stores Officer Marc Mastronardi said in a release.
Las Vegas’ retail scene has seen a slowdown in 2023. Colliers International said in a second-quarter report that a lack of supply and available land has pinched the sector. Construction of commercial real estate across the Las Vegas Valley has largely hit the brakes in 2023 as high construction costs, interest rates and hesitant banking lenders have dampened the market.
Experiential retail — also known as “competitive socializing” — which encompasses everything from pickleball and axe-throwing to Top Golf and darts, has seen a massive uptick in Las Vegas, though, as market demands from consumers shift, according to industry analysts, as part of a post-pandemic wave of people seeking out more experiences.
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.
