Lifestyle of Shopping Mall

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Life cycle of Indian shopping centre

27/09/11

G.D. Goenka, Gurgaon Amanpreet Banga

1

We will talk about….
Before opening of shopping centre
1. 2. 3.

1.

Feasibility study and market analysis The design phase and deciding the tenant mix Preleasing of anchors and leasing of the vanilla stores

2.

After opening of the shopping centre
1. 2. 3.

Facilities management Marketing of th project M k ti g f the j t Mall management as a whole

3. 3

The Indian market of shopping centres
1. 2. 3. Organisation of the Retail market Existing portfolio and upcoming projects g pp g The actual management of the shopping centres in India G.D. Goenka, Gurgaon Amanpreet Banga

27/09/11

2

FIRST PART
Before opening of the shopping centre p g pp g

27/09/11

G.D. Goenka, Gurgaon Amanpreet Banga

3

Feasibility study and market analysis

1.

Preliminary studies are the back bone of any project.

2.

The study suggests the viability of opening up a mall by considering various attributes like: location analysis, catchment area analysis, demographic analysis, etc.

3.

Generally, the organizations do charge a flat fee for the entire study.

27/09/11

G.D. Goenka, Gurgaon Amanpreet Banga

4

The design phase and deciding the tenant mix

1.

Designing (Internal and exterior) gives the first feel of the project, hence due care should be taken. Tenant mix refers to the kind of retailers/brands the mall will cater to. Zoning of the mall should be strictly proposed and implemented for the long run Tenant mix should always correspond y p to the actual buyers. (For instance, a project in Kanpur cannot afford to position LVMH, Hugo, etc.) > In India, designing is still an issue, we take normally take assistance from companies in Middle East or Europe.

2.

3.

4.

27/09/11

G.D. Goenka, Gurgaon Amanpreet Banga

5

Preleasing of anchors and leasing of the vanilla stores

1.

After the structure is ready, the first part should be to lease main anchors and to position them at the right place

2. 3.

Second comes the leasing of the other vanilla stores/brands The ideal case is to open the p j p project with the maximum occupancy or at least the anchors p y opened.

4.

To compare, the projects in Europe normally open up with minimum 96-98% occupancy 96whereas in India they open with average 60% and as low as 15%..!

> This is another hurdle faced by the malls in India; anchors should be leased out primarily. primarily

27/09/11

G.D. Goenka, Gurgaon Amanpreet Banga

6

SECOND PART
After opening of the shopping centre p g pp g

27/09/11

G.D. Goenka, Gurgaon Amanpreet Banga

7

Facilities Management

1.

It normally includes: maintenance activities, day to day operations, cleaning, security, parking, etc.

2.

The objective is the take care of the day to day operations of the mall and to upkeep the hygiene and security standards.

3.

The major companies for FM in India are: Knight Frank, CBRE, Cushman & Wakefield and may more. > Normally, for the facilities management annual flat fee is charged depending upon the size of the project.

27/09/11

G.D. Goenka, Gurgaon Amanpreet Banga

8

Marketing of the project

1.

The tools of the marketing are: Audio/visual marketing, campaigning, events and shows, brand endorsements, new brand launch.

2.

Normally, the developer gives a annual marketing budget either to the mall management or marketing company in advance.

3.

Events time schedule should be prepared in advance for an year. It should explicit information like: Kind of the event, time of the year, benefits associated

4. 4

It should be practiced as it is Win – Win solution both for the retailers as well as the developer.

> Events and promotions should be practiced on a regular basis hence generating a sense of basis, liveliness for the project and goodness as well as owness for the retailers. They...
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