DR economy on the skids..

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kingofdice

Active member
Jan 16, 2002
406
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When I perused the Acropolis last Nov., I wondered how the shops were staying in business. While realizing the mall was relatively new, one could not help but notice that the mall had little foot traffic. (Even at mid-day.)

The prices were a bit stiff, so I wondered how Domincans could afford the upscale stores. Well, it's probably unfair to target the mall, but I think the closing of shops left and right, Church's going out of biz, is a blatant sign that the economy is being suffocated.

Obviously, Hipolito has no clue that nosebleed interest rates and the 10% import tax is hurting businesses severely. Maybe he should try to run a store down at the mall and see how hard it is to make a buck.
 
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Golo100

Bronze
Jan 5, 2002
2,138
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Mall closings

I have often wondered how our malls are able to survive without flagship stores and why haven't major department stores opened in some DR malls.

I visit the Acropolis and Diamond Mall often and no matter what hour, the traffic is poor. Some of the stores like Zara are extremely well stocked with an incredible diversity of stock. You find there the latest fashions and quantities and styles. This is a big boutique by any standard. Yet I can't figure out how they survive. Their prices are deceptively low. Their merchandise is very upscale in looks, but the prices are almost "sale" prices in the U.S.

NafNaf another upscale shop just closed down with a huge giveaway sale. I never saw much future for this store.

I have taken advantage of the movie houses at the Acropolis because you can almost have the entire place to yourself. I watch movies on Mondays, Tuesdays or Wednesdays for half the price, can pick the best seat with no one around us and no rift raft at all, comfortable seats and no noise at all. Even on weekends during the early show the attendance is low. Diamond Mall is a little crowder, yet selective. Few people still can afford close to $500 per couple just to watch a movie.

Bella Vista Mall has more traffic due to Super Mercado Nacional acting as major attraction. Plaza Central has closings every month. Surprisingly enough, you see new openings all the time. Dominicans just don't give up investing in these uncertain times. I believe there is a lot money laundering involved in this.

TW
 
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arturo

Bronze
Mar 14, 2002
1,336
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Re: Mall closings

Golo100 said:
I have often wondered how our malls are able to survive without flagship stores and why haven't major department stores opened in some DR malls.

**edit for convenience**

I believe there is a lot money laundering involved in this.

TW
Click to expand...

You guessed it.
 
C

Criss Colon

Platinum
Jan 2, 2002
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yahoomail.com
That is what the US atorney in Miami said!

Biggest "Money Laundering" country in the World? La Republica Dominicana!!!Baseball,Whores, Money,Beer,Rum,and cigars! What a Country!CCCCC
 
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