With more than 38 million consumers expected to shop on Thanksgiving, more small businesses are slated to be open. However, they might not have a choice, according to The Wall Street Journal.
Many owners of these shopping centers that hope to cash in on increased foot traffic are requiring that all retailers, even the smaller ones, open during the holiday and have set mandatory hours of operation, according to the report.
Retailers that do not comply are threatened with fines and could face less favorable terms during their next lease renewal, the Journal said. However, some retail executives say that these fines are rarely enforced or are enforced randomly.
“Thanksgiving is going to become more of a shopping day rather than the day after,” Greg Maloney, chief of Americas retail at JLL, told The Wall Street Journal. “The object of all of us is keeping someone in the store as long as we can.”