Low foot traffic and declining sales has forced another business out of Hargreaves Mall.
Long time tenant The Body Shop relocated to Bendigo Marketplace in mid-July.
Simon Wilson Furniture has also left its retail outlet in Killians Walk.
Despite the loss of two more businesses to the precinct, Be Bendigo chair Marika McMahon said the mall had potential if there was co-ordination between businesses in an effort to turn the space into a drawcard.
There are currently 11 vacant shops in Hargreaves Mall and four in Killians Walk.
"From Be Bendigo's perspective, there needs to be a coordinated approach across the CBD about what the business mix is in different areas, so businesses can support each other," Ms McMahon said.
"Places where businesses complement each other (have success), that mix isn't right in the mall and it's a real opportunity."
The Body Shop Australia retail director Karim Mradmi said the Bendigo store's move away from the mall wasn't planned.
"The low traffic in the area and the continuous decline in sales and transactions helped make the decision to move a lot easier," Mr Mradmi said.
"A few sites became available in (the Marketplace) where the landlord wanted a strong representation of a cosmetic brand to be part of the new retailer mix.
"The opening week at the Bendigo Market place was successful due to the high and unexpected transaction growth."
A notice on the window of Simon Wilson Furniture said the store had decided to relocate back to its factory outlet due to not being able to trade on Sundays.
"Over the next two months I will be building a full show room on (the factory) site to display local custom furniture," Mr Wilson said in his notice.
Be Bendigo moved into Hargreaves Mall as a way to engage more local businesses.
"Be Bendigo has been pleasantly surprised at the foot traffic coming into our office and the amount of members or newcomers to Bendigo, who are dropping into have a chat," Ms McMahon said.
"The potential is there. Some businesses are doing well there and showing that people are prepared to come into mall when the product mix is right.
"(Hospitality) places like Flight Bar and Gaijin, where you can barely get a seat, or the new Hustler burger bar are the type of businesses can drive traffic."
The success of hospitality businesses in the CBD precinct was something that could be explored, Ms McMahon said.
"(There) is that thought of (the mall) only being nine to five, Monday to Friday," she said. "I think there are lots of untapped hours there.
"At our opening, on a Friday afternoon, it was fabulous to have a number of people in the mall, it opened (people's) eyes to other potential (possibilities)."
Ms McMahon said Hargreaves Mall could be a good drawcard for office workers when the Gov Hub is completed.
"It's a nice drawcard. When I first started (working In Bendigo) 25 years ago, I would head out to the mall for lunch," she said.
"Now there is opportunity to think what businesses will draw people out of Gov Hub and circulating around the city. It's also about making it a bit more welcoming with events or little things to help drag people along.
"Be Bendigo is keen to see Bendigo vibrant and thriving. We have got pockets of success and now there's opportunity...to encourage the right people to come join the CBD precinct."
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