Meijer sees something in Detroit most retailers fail to see: Potential.
Excerpt:
Retailers don't deliver growth like that by being stupid, slow to
move or captive to half-truths, cynicism and conventional wisdom. They
aim to be a half-step ahead of the competition, to do their homework,
to be well-positioned when conditions improve, to serve markets that
have been there all along.
"We have numbers that show $1.7
billion is spent by Detroiters outside Detroit for retail," says George
Jackson, president of the quasi-public Detroit Economic Growth Corp.
"That's a powerful number. Building something in the city ... gives a
store like Meijer a competitive advantage.
"It's not like
Detroit doesn't have buying power," he continues, referring to the
success of a Home Depot outlet at Seven Mile and Meyers. "There is a
market here. Meijer will benefit greatly from this move."
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