Growing Mall Culture In India. By My India | Published September 10, 2014 | Full size is 665 × 665 pixels
The reaction of the people at large towards the development of mall culture in India has been quite favourable. Most of them feel that the quality of goods available at these stores is much better than those available at ordinary stores. The prices are also reasonable and in some cases, lower than at other places.
While the mall culture in India is surely rising, the moot question is, how many of them succeed in what they set out for. As organised retailing in India grows, tier II and tier III cities, especially, are seeing hectic activity in the mall space. The , which is the fifth largest retail destination globally, has been ranked as the most attractive emerging market for investment in the retail sector, by AT Kearney’s eighth annual Global Retail Development Index (GRDI), in 2009. The share of retail trade in the country’s gross domestic product (GDP) was between eight to 10 per cent, in 2007. It is currently around 12 per cent and is likely to reach 22 per cent, by 2010.
What are some advantages and disadvantages of mall culture in India
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The development of mall culture in India has attracted many foreign companies and NRIs to invest in India. The reality stocks in the Indian stock market have experienced an unprecedented boom. These foreign companies are investing in property- commercial as well as residential and have built up sizeable tangible assets.Destination retail could also come from the presence of exclusive brands on a particular high street, as opposed to brands that are omnipresent. A few high streets may have exclusive stores such as the Kalaniketan, Amarsons, Premsons, Akbarally's, Millionaire etc. - legacy stores (housing premium brands) with a loyal clientele which has existed well before the mall culture arrived in India. Being less omnipresent and the fact that they offer exclusive collections make such stores attractive to discerning customers.Mall culture in India and especially in Delhi & NCR has grown with an incredible pace. Just a few years back, people had to make a choice among shopping, movies or hanging out on a holiday but thanks to our malls, all these jobs can be performed at the same time, under the same roof and that too with a wonderful experience. And it is basically the experience and not the intention that counts when it comes to malls.