SYRACUSE, N.Y. (NCC News) — The NY EXOTIC shop opened on Marshall Street last week during hard times economically. The tobacco and exotic snacks quick mart has drawn the attention of local customers, particularly students from nearby. The store opened near three other quick-mart stores on Marshall Street.
Local shopper Neil Adams had more optimism and excitement about the new store, particularly the different approach the store has taken.
“I kinda like the vibe of this one. It’s kind of catering to a younger crowd, a college crowd,” Adams said.
Adams said he liked the variety and design of the store as well, saying it was a refreshing change compared to the other quick-marts on Marshall.
While Adams was excited about the new store, Syracuse University business professor Suho Han said competition would likely ensue between NY Exotic and the other quick-marts.
“If there are three stores open already, there’s already some competition that that new store is facing, ” Han said.
According to Han, stores with similar products in such close proximity often begin what he called “price wars” to compete with each other. Also, he said people are still not spending nearly as much as they were before the COVID-19 era.
Han also mentioned the difficulty of opening a business in an area that has a dependence on customers who are only in town for half of the year.
“There’s some seasonality in the customer flow here, with students on breaks, as opposed to opening a business downtown with a steadier customer flow, ” Han said.
High inflation rates and prices for goods have created a hard economic climate around the country, so opening a small business like this was not without risk.
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Marshall Street is a popular shopping and dining hub in the University Neighborhood.
© 2022 Tucker Sennett
