New Marshall Street Store Opens Despite Tough Financial Times New Marshall Street Store Opens Despite Tough Financial Times

Tucker S: The opening of the NY Exotic shop on Marshall Street has tobacco shoppers excited, but one expert is wary of another quick-mart coming to the area. Local shopper Neil Adams is excited by the new store and its offerings.

Adams: And I also think, introducing exotic snacks along with everything else that they sell is a good way to differentiate themselves from other quick stores like that.

Tucker S: While shoppers like Neil are excited by the new store, S-U business professor Suho Han is not as confident in new local businesses opening on and around Marshall.

Han: Right now, we’re facing a lot of inflation so the cost of ingredients are going up, maybe the rent’s going up, but people aren’t spending as much, even after COVID.

Tucker S: With limited time to work their targeted clientele, Han worries what the situation might become.

Han: Competition between those tobacco stores would increase quite a bit, because they’re just jockeying for more student customers.

Tucker S: The store will have to hope those predictions are untrue.
Tucker Sennett, N-C-C News.

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.


Location of NY EXOTIC

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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