The concept of shopping centers and shopping mall

Concept of shopping Mall:

The concept of Shopping Malls today is a revolutionary phenomenon that has become a part of lives of every urban citizen. This fad has also hit small towns and is only expected to grow in the next few decades to come. In the current market scenario, both consumers and retailers have unlimited choice in terms of mall shopping experience. Thus customer experience has played in key role in building the brand image for each commercial shopping mall builder. Customer loyalty and perception has a long way to go when it comes to Mall culture. If it fails to catch the pulse of the customer, the mall may not reap much profit.

Mall management is a new sophisticated concept developing pan India due to the proliferation of shopping centres. In the last decade, retailing sector in India has seen a vast transformation from traditional retailing to modern retailing. The traditional retail consists of small retailers like local Kiranashops, general stores, medical stores, footwear stores, apparel shops, hand-cart hawkers and footpath vendors. Today the entire concept of retail has undergone a phenomenal change. As it is clearly evident, number of malls has gone up tremendously over the years. Some of the major industrial houses like Reliance Industries, Bharti group, Aditya Birla group and Tata Trent have entered this sector. This has been one of the major reasons that it Shopping Mall concept has grown so vividly. Organized retail has been befitting the Indian economy extensively and also helping elevating India's lucrative position as an investment hub for many foreign retailers.

Shopping malls or malls are huge enclosed places which usually consist of many shops that make products available to the shoppers. These places are also referred to as shopping arcade or shopping precinct. Malls can be medium to large in size, depending on the construction and the number of stores that it plans to hold. Shopping centres usually refer to smaller malls, while shopping malls are used to refer to the large shopping areas. Parking Space is one critical aspect of a shopping mall. Both shopping centres and malls are examples of LFRs or large formal retail stores that houses many brands or products from various brands. The success of a mall depends significantly on the variety of brands it houses and its popularity with the shoppers. It must be able to meet needs of all categories of population.

Food courts have become synonymous with malls. We often find ourselves visiting malls not to get our monthly grocery or shop from our favorite brand, but to grab a bite at our favorite restaurant over the weekend. If the food options are not very diverse in a mall's food court it may not succeed and may suffer lack of footfall and may lose customers to competitors. Thus we often find malls banking on customer engagement programs by organizing events movie premiers, contests in the mall premises. This succeeds in getting footfall which eventually benefits most aspects of the mall.

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Author: Priya Rawat