Commissioners have approved plans for a $4 billion shopping mall in Florida, the most expensive ever, and it could mean good news for the watch industry.
Canadian Company, Triple Five, has laid out intentions to build a new retail and entertainment venue on 174 acres of wetlands in Florida.
Up to 300 complexes have been predicted to shut down in the U.S and add to the already long list of abandoned shopping centres that cover the fringes of cities across the American mid-west.
However, the directors of the prospective American Dream Miami mall think they have found a way to keep the American people coming to malls.
With plans to include more entertainment features, they hope that people will be happy to leave their homes and spend money on experiences if not products, when visiting the epic new $4bn attraction.
Garrick Brown, a retail analyst for the property and investment firm Cushman & Wakefied, thinks the plan could work.
Speaking to The Times, he said: “If you start putting them in the suburbs of New York City or Miami, which are already huge cities for tourism, it makes sense. Our shopping centres are going to start looking a lot more like amusement parks. Our amusement parks are starting to look like shopping malls. If you go downtown Disney World, its Louis Vuitton and all the usual suspects.”
This new trend to incorporate retail and entertainment could be a positive step for the retail aspect of the U.S watch industry if the new initiative can get Americans back out and in the shops.