Two new stores are set to open in the new wing of the Washington Mall in the hopes the increased foot traffic will attract new customers.The International Sports Shop, a fixture on Bermudiana Road, will be moving into the new second-floor space and Bermuda Gold Standard will be its neighbour. Currently both retail spaces are in the middle of renovations.The sports shop will move in at the end of March when their current lease expires, citing lower rent and more foot traffic as reasons for the move.They are moving from their current 1,400 square foot space to a smaller, 1,000 square-foot store but say what they lose in floor space, they will gain in height as the new shop has 12 foot ceilings.“We weighed the pros and cons of staying versus going and we decided to move into the limelight,” said Brian Purvey, who is a co-owner of the shop along with three others. “Let’s face it, Washington Mall has better foot traffic than where we currently are. The visual recognition of the shop will be better.”Mr Purvey explained that they had to decide whether to stay in their current space and conduct more advertising and awareness promotions to attract people to the store or relocate to a spot that had more potential customers walking by the shop.“We want to keep up with the economic times, save on rent, keep expense down, and try to generate more business,” he said, adding that another advantage to moving is the safety factor.“Right now we are on the outskirts of town and sometimes we have only one person in the store at the end of the day, so they are vulnerable,” he said, adding that once they move they will keep the same hours as the Washington Mall. “It’s a bit safer to be in a place surrounded by other vendors.”In 2012, the International Sports Shop is looking to hone in on a niche of the sporting goods market; moving away from casual athletic clothes to focus on top line sporting equipment such as cricket bats, treadmills, yoga mats as well as karate kits, table games and darts. They also specialise in custom-made jerseys, uniforms and tracksuits for sport clubs and schools.“We’re not going to try and compete with a Gibbons or Boyle’s that have a bigger store and bigger budget for casual athletic clothing and shoes,” he said, adding that their store will, however, carry football boots and gear.Gold jewellery buyer, Bermuda Gold Standard, which has been operating out of electronics store, M&M International, on Church Street, will also be relocating to the Washington Mall in the next few months.The shop tests unwanted gold jewellery, offering cash in return. In August 2011, the store hit the $1 million mark in gold purchases.The owners are currently celebrating their one-year anniversary with a successful business and the need to find its own space.“Our business began with the intention of it being a part-time venture, however, the overwhelming response we received completely caught us off-guard, leading to what is now a very makeshift set-up. We don’t even have a proper storefront,” said co-owner Jonathan Hitchcock. “We have been waiting for the opportunity to be located a little more centrally and to be able to give people a more comfortable, discreet environment.”Their new 1,000 square foot space will be divided between the testing area and a waiting area.“We hope that the move will make us more accessible to the Hamilton working population,” added Mr Hitchcock. “The Washington Mall generates a lot of foot traffic, which should be tremendously helpful in raising our profile. We’re also looking forward to starting with a blank slate with the space and being able to create an environment that suits our needs and makes our customers comfortable.”Mr Hitchcock believes despite the struggling economy, his business will continue to grow in the new location.“We have seen consistent growth since our inception and there’s no sign that demand is abating, though there was certainly a learning curve in reaching this point,” he explained. “We’ve steadily refined our service and been very aggressively promoting what we do and I think the message has been heard: getting rid of unwanted gold is a great way to get over the odd financial hump that comes along.“There are many factors outside our control gold prices chief among them but we are optimistic that our service has staying power.”In celebration of the company’s one-year anniversary, they are holding a promotional $5,000 cash giveaway from now until February 24.