What Is an Anchor Store in Retail?
An anchor store, also known as a ‘flagship store’, is a larger retailer in a shopping mall or center that attracts foot traffic and serves as a draw to other businesses in the same area. Anchor stores are typically larger, well-known brands with a wide selection of products and services that draw in customers. Anchor stores play a significant role in the retail industry, as they are the primary draw for shoppers visiting a shopping center or mall. The presence of an anchor store can influence a shopper’s decision to visit a particular mall, as well as the length of time they stay. As a result, anchor stores tend to be located in strategic, visible locations within a shopping center or mall.
Examples of Anchor Stores
Some of the most common anchor stores in shopping centers and malls include:
- Department stores (e.g. Macy’s, JCPenney, Sears, Kohl’s, Nordstrom)
- Supermarkets (e.g. Kroger, Safeway, Publix)
- Big box stores (e.g. Walmart, Target, Best Buy)
- DIY stores (e.g. Home Depot, Lowe’s)
Anchor stores are also often entertainment venues, such as movie theaters or restaurants.
Benefits of Anchor Stores
Anchor stores offer a number of benefits, both to the shopping center or mall and to the retailer. For the shopping center or mall, the presence of an anchor store:
- Increases foot traffic to the area
- Provides an economic boost to the local economy
- Increases the value of the shopping center or mall
- Increases rent and lease rates for other retailers
For the retail anchor store, the presence in a shopping center or mall:
- Expands their customer base, as they are now exposed to a larger pool of potential customers
- Increases their brand recognition and exposure
- Provides access to a captive audience, as shoppers are already in the vicinity
Overall, anchor stores play an important role in the retail industry and can provide numerous benefits for both the shopping center or mall and the retailers.
Conclusion
An anchor store is one of the largest retailers in a shopping center or mall, typically well-known brands that attract foot traffic and serve as a draw for other businesses in that area. Anchor stores offer a number of benefits for both the shopping center or mall and the retailer, including increasing foot traffic and brand recognition, as well as expanding their customer base. For more information, please visit: