The Streets at Southpoint, a new mall in Durham with more than 150 stores, opened March 8.
But Aaron Nelson, president of the Chapel Hill-Carrboro Chamber of Commerce, said the area's economic future is anything but dim and cited the opening of new businesses at University Mall.
Nelson said the town's hope is that the new mall will be a regional destination and that visitors will stop and shop in Chapel Hill, which is just a few miles away.
"We will continue to try to convince people who travel from long distances to stop by Chapel Hill on the way to the mall," Nelson said.
"It is important for the citizens to realize sales in Chapel Hill bring tax dollars back to the town," he added. "For every one dollar you spend here, one penny comes back."
Christy Lehmann, manager of Johnny T-Shirt at 128 E. Franklin St., said she thinks customers will continue coming to Chapel Hill to shop at the specialty stores.
"People will still come to Franklin Street for all their Carolina gear," Lehmann said.
Michael Baleno, manager of Top of the Hill at 100 E. Franklin St., said the restaurant's business has not been affected since the mall's opening.
"The only problem is with people being late to work because of traffic," he said. "I think (the mall) draws people to the area."