Comparative Study of consumers preference toward Malls within Varanasi City

Topics: Shopping mall, Marketing research, Retailing Pages: 5 (1645 words) Published: September 22, 2013
 INTRODUCTION

MALLS:-
A mall, shopping center, shopping plaza, is the modern adaption of the historical marketplace. The malls is a collection of independent retail stores, services, which is conceived, constructed, and maintained by a separate management firm as a unit. They may also contain restaurants, banks, theaters, professionals’ offices, services stations etc. Malls are typically known to be indoor shopping center. It is one or more building forming a complex of shop to representing merchandiser, with interconnecting walkways enabling visitors to easily walk from unit to unit along with a convenient parking area- a modern, indoor version of the traditional market place. Malls culture in northern region of India and especially in Varanasi has grown with an incredible pace. Just a few years backs, people had to make a choice among shopping, movies or hanging out on a holiday but thanks to our malls, all these job can performed at the same times, under one single roof and that too with a wonderful experiences. Varanasi is one of the most ancient, famous and holiest of the holy Hindu pilgrim center. Earlier, people of Varanasi were living with conservative thoughts but now they have opened their wings and introduce themselves in the field of growing economy. Introducing of malls culture is one of the best examples of that.

In present scenario, as the malls are mushrooming like anything in the city. So, the comparative studies of consumers’ preferences towards malls within Varanasi city are also growing at an increasing pace.
INDRA PRASTHA MALL
VARANASI

JHV MALL
VARANASI

MALLS IN INDIA:-
Over the last 2-3 years, the Indian consumer market has seen a significant growth in the number of modern-day shopping center, popularly known as “MALLS”. There is an increased demand for quality retail space from varied segment of large format retailers and brands which includes foods & apparel chains, consumers’ durables and malls operators. Shopping center development has attracted real estate developers and corporate house across cities in India as a result, from just three malls in 2000; India is all say to have over 220 malls by 2005. Today, the expected demand for quality retail space in 2006 is estimated to be around 40 million sq. feet. While previously it was large, organized retailers- with their modern, up-market outlets, and direct consumers’ interface who had been a key factor driving the growth of organized retail in the country, now it is the malls which are playing the role. Factors such as availability of physical space, population densities, and city planning and socio-economic parameters have driven the Indian market to evolve to a certain extent, its own definition of a mall. For example while a mall in USA is 4, 00,000 to 1 million sq.feet in size, an Indian version can be anywhere between 80,000 sq.feet and 5, 00,000 sq.feet by 2005, total mall space in the six cities of Mumbai, Bangalore, Hyderabad, Chennai, Kolkata and national capital region ( Delhi, Noida, Gurgaon) is expected to increase to over 21.1 million sq.feet Compare to other big cities, Kolkata and Hyderabad are relatively new in trends in the mall segment, but are witnessing quick growth. Smaller cities like Pune, Ahmadabad, Lucknow, Varanasi, Ludhiana, Jaipur, Chandigarh and Indore are also expected to see a formidable growth in the growth of malls in the near future. But malls in India need to have a clear positioning through the development of differential product assortment and differential pricing, in order to complete effective in a growing mall...
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