PROJECT REPORT ON
“FACTORS WHICH INFLUENCE INDIAN MIDDLE CLASS TO SHOP IN A MALL”
SUBMITTED TO: DR. TARUNA PARMAR
LALA LAJPATRAI INSTITUTE OF MANAGEMENT MAHALAXMI, MUMBAI – 400034. INTRODUCTION
For the current generation of consumers, the meaning of shopping has changed. It is not just a mere necessity, as it was earlier, but much more than that. The factors that affect store choice and draw customers to the shopping centre include space, ambience, and convenience and moreover an array of choice under one roof. The growth of integrated shopping malls, retail chains and multi-brand outlets is evidence of consumer behaviour being favourable to the growing organized segment of the business. Space, ambience and convenience are beginning to play an important role in drawing customers. Malls, which are now anchored by large outlets such as Westside and Lifestyle and are resided by a lot of Indian and international brands, are also being seen as image benchmarks for communities.
Today retailing in India is done through a vast number of unorganized retailers with over 12 million retails outlets spread across the country in various sizes and formats. India has the largest retail density with 9 stores available for every 1000 people. The Indian retail industry is providing 8% of the countries employment with its vast distribution of retail stores across the country. The retailing in India is undergoing a gradual change as market conditions and technological developments combined with affluent, highly mobile and time starved consumers are playing an important role in the changes happening in the retail sector in India.
Marketplaces in urban demographic settings attract large number of buyers and sellers, which can be termed as market thickness. Co-existence of many shopping malls along with traditional markets...