Global retailers used to seemingly pay what ever to be on fifth avenue in Manhattan. They didn't care about the slim margins and steep price. This has begun to change with the rise of eCommerce. this has lead to a decline in retail sales making the cost no longer worth the asking price. Sales were down by and average of 11% across the board from this time in 2017. Retailers argue that even must have locations must have rents that are still reasonable
. This demonstrates the need for a company to be able to adapt to its surrounding market. If people are no longer willing to pay the highest of the high for a retail space and it continues to sit empty, the price must be lowered to reflect the market at large. This is why these spots continue to remain empty. Their own business also being impacted by an outside force.
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