Shopping Malls

The latest trend in the corporate universe is of the emergence of the shopping malls.

Shopping malls are an emerging trend in the global arena. The first thing that comes in our mind about the shopping malls is that it is a big enclosed building housing a variety of shops or products. According to historical evidences shopping malls came into existence in the middle ages, though it was not called so. The concept of departmental stores came up in the 19th century with the Industrial Revolution. Consumers wanted a better shopping experience and this demand gave rise to the emergence of of shopping malls in India.

Originally the first of the shopping malls was opened in Paris. Then the trend followed in the other metros over the world, and there was a spree of shopping malls coming up at various places. In this age of mass production and mass consumption, the concepts of shopping malls is most modern method of attracting consumers. The concept of shopping was altered completely with the emergence of these shopping malls.

Shopping was no longer limited to a mere buying activity - it has become synonymous with splurging time and money. People simply go about roaming through the shopping mall in order to peep through the window of the shop and often ending up buying something they like. The consumers desire a combination of comfort and suitability which the shopping malls cater to, and so this format of shopping has become so popular all over the world, and especially so in India. The inclusion of amenities like restaurants, multiplexes, and car parks attract more and more crowds to shopping malls, that are considered family hangout zones.

Advantages of shopping malls

• Increase in the growth of the organized retail sector
• Monumental increment in economic growth
• Employment generation by the organized retail sector
• Good competition means better products & services

Disadvantages of shopping malls

• The companies with superior resources would muscle out the ones inferior to them.
• Monopolization of the organized retail sector

In India, the emergence of shopping malls has mostly altered the lifestyle of the consumers. With the growth in income, changing attitudes, and also the demographic patterns favor the emergence of shopping malls.

The trends to follow in the future

• The shopping malls favor a growth in the Indian organized retail sector by 10% within 2010
• There would be different formats of shopping malls depending on the region.