Differentiate between power centers and lifestyle centers
What will be an ideal response?
Power centers are huge unenclosed shopping centers consisting of a long strip of retail stores, including large, freestanding anchors such as Walmart, Home Depot, Costco, Best Buy, Michaels, PetSmart, and OfficeMax. Each store has its own entrance with parking directly in front for shoppers who wish to visit only one store. In contrast, lifestyle centers are smaller, open-air malls with upscale stores, convenient locations, and nonretail activities, such as a playground, skating rink, hotel, dining establishments, and a movie theater. The most recent lifestyle centers often consist of mixed-use developments, with ground floor retail establishments and apartments or condominiums above, combining shopping convenience with community feel of a neighborhood center. Meanwhile, traditional regional shopping malls are adding lifestyle elements — such as fitness centers, common areas, and multiplex theaters — to make themselves more social and welcoming. In all, today's centers are more like places to hang out rather than just places to shop.
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