When VCC first opened, it siphoned off a significant amount of business from 3 other area malls: Azalea Mall, Fairfield Commons (formerly Eastgate Mall) and Willow Lawn. In the case of Azalea Mall, it took enough business away to relegate that mall to "dead mall" status and Azalea Mall was subsequently closed and demolished. It took the Sears anchor away from Fairfield Commons and sent it almost to the same point, however that mall is still open today. It also took the JC Penney anchor away from Willow Lawn and led Willow Lawn to eventually reposition itself as more of a community shopping center than a regional shopping destination.
Among the mall's original anchor stores were Proffitt's and Leggett, a division of Belk. These stores both became Dillard's in 1997 and 1998, respectively. In 2011, Dillard's closed the former Proffitt's store, which became a Burlington Coat Factory, and downgraded the former Leggett to an outlet store before closing it later in 2011. The former Leggett is now occupied by American Family Fitness.