Word: retailing
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Dates: during 1990-1999
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...tourist attraction: not Disneyland, not the nearby stock-car track, but an expanse of concrete and steel splayed across 2 million sq. ft. of desert called Ontario Mills. It's the latest fashion in malls, boasting two tyrannosaurian movieplexes totaling 54 screens, as well as glitzy entertainment and retail hot spots like Off Rodeo Drive that sell designer duds at hoi polloi prices. Roseanne sat down for a bite in celebrity chef Wolfgang Puck's cafe-in-a-mall. But she realized her baby Buck needed a changing table. No changing table on this menu. So Roseanne let loose...
...virtual-reality car track or teeing off on the virtual-reality driving range at Dave & Buster's, an eats-and-entertainment emporium at Ontario. Tens of thousands of shoppers, many off tour buses and from as far away as South Korea, march through 10 color-coordinated "neighborhoods"--themed retail zones catering to tastes ranging from upscale dresses to sporting and adolescent attire. Overhead, 65 giant TV screens run an endless series of commercials produced in the mall's studios...
...imagination behind Ontario belongs to Larry ("I hate to shop") Siegel, CEO of the Mills Corp. in Arlington, Va. He has fashioned perhaps the only hot trend in mass retail: value megamalls, or outlet centers with huge doses of entertainment. This concept has made Mills, which operates as a real estate investment trust, the nation's fastest-growing, publicly traded mall developer...
...Mills recipe rejects mainline, multistory department stores in favor of a ground-level, oval floor plan anchored by off-price retailers like Saks' off 5th, T.J. Maxx and Marshalls. Throw in a couple hundred specialty stores. Add a giant Marriott-managed food court as well as theme eateries such as Puck's and Rainforest Cafe. Stir in razzmatazz such as Ogden Entertainment's American Wilderness Experience, a combination restaurant, retail outlet and enviro-amusement park; or GameWorks, the virtual-reality video-game arcade created by Sega, DreamWorks SKG and Universal Studios. "To win in this business you must offer vibrancy...
...than 42,000, from strip malls on rural interstates to the gaudy Forum Shops in Las Vegas. That's 20 sq. ft. of shopping-center space for every man, woman and child in the nation. "We just don't need any more traditional shopping, period," says Craig Schmidt, a retail-industry analyst at Merrill Lynch...