Mall Mania Ebbs, retail outlets give way to offices...
The Economic Times, 26th March 2008 Page 1 {Brands and Business}
Run of the mall losing speed
THe Economic Times, 26th March 2008 Page 4 {Business of Brands}
Malls and Mega-marts are the in-thing nowadays, with every city major expansion in these category of outlets. Every marketing pundit worth his name has been predicting the demise of the Mom-n-Pop outlets within exty-ex number of years...
Today, it seems that a few malls are actually closing down. These are not the first to do so... these are the first to have been noticed and highlighted in the media. I personally know of a mega mart in Indore that has closed doors. Secondly, in all my visits to various and sundry malls - I have seen shopping activity in only a few shops in each. The rest of the footfalls are just people out to have a good time, and spend very little. Most of the dough is spent on eateries and movies!
Is the whole mall stuff just a passing fad? Can we emulate the western model?
What are the views of MSians regarding this? Please put in a comment...
