The Tower at Peabody Place/Suite 1400
100 Peabody Place
Memphis, TN 38103
Rubenstein Associates, Inc.
Public Relations, Tel: 212-843-9228 / 212-843-8088
Filomena Maiello / Dawn Rowan
FOR IMMEDIATE RELEASE
Belz Factory Outlet World Offers Suggestions for Smart Holiday Shopping
Holiday Shoppers Seek Diverse Tenant Mix Found at Outlet Malls
Memphis, Tenn. (Nov. 1, 1999) -- As some people begin to deck the halls, many others begin to shop at the malls. Almost half of these shoppers look to factory outlet malls to suit their holiday shopping needs. In the most recent holiday shopping survey compiled by the International Council of Shopping Centers (ICSC), a New York-based trade organization, respondents spent 47% of their holiday budget at outlets.
According to ICSC statistics, the popularity of factory outlets is definitely not a new phenomenon. In fact, 294 outlet centers opened their doors for business last year, containing an average of 57.2 million square feet of gross leaseable area. Larger factory outlet centers are being built each year to accommodate the growing needs of shoppers.
Another reason outlet malls are an ideal place for holiday shopping is the diverse tenant mix. More brand names and a greater assortment within brands has been evidenced in recent years. ICSC research concluded that factory outlet centers have a total of 22.6% more apparel and accessories tenants than traditional shopping malls, making outlet centers an excellent place to shop for this category of merchandise.
The shopping center industry has truly exploded since Belz Enterprises opened the first factory outlet mall in the United States almost 20 years ago. Today, the factory outlet mall business has grown into a $13 billion per year industry with nearly 14,000 outlet stores nationwide.
The numbers dont lie, says Andrew J. Groveman, President of the Factory Outlet Mall Division of Belz Enterprises. Each year, shoppers have flocked to our factory outlets to find the perfect holiday gifts for up to 75% off retail prices. In the holiday season, as well as the rest of the year, our shoppers appreciate saving money.
To make holiday shopping a pleasurable experience for consumers, Belz has compiled some helpful tips for the outlet mall shopper:
With headquarters in Memphis, Tennessee, Belz is a leading developer and manager of factory outlet malls nationwide. Belz Enterprises developed and manages Belz Factory Outlet Worlds in Orlando, Florida (where the company also operates Belz Designer Outlet Centre), Las Vegas, Nevada, Pigeon Forge and Lakeland, Tennessee. Belz developed and operates the 100 Oaks Mall in Nashville, Tennessee, as well. The company recently opened a Belz Factory Outlet World in historic St. Augustine, Florida and it is developing the first enclosed factory outlet mall in Puerto Rico. Furthermore, Belz owns and manages a group of premier hotels, including the flagship Peabody Hotels in Memphis and Orlando.