Mall Talk Issue March - Scai.in

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S CA IIssue-2 l Vol-02 l March 2011SHOPPER TALKMall ChangeWhile urban planners lament traffic, private enterprise often makes the change that makes it possible forurban areas to thrive. Mall Talk speaks to consumers to understand what difference a mall can makeMalls change the world around them. This thought has never been more apparent than to the universe they service.Many homemakers list the way a shopping centre has changed their lifestyle. “I never thought I would be free fromtravelling from one end of Mumbai to another until my local shoppingcentre started stocking from retailers which were the pride of SouthMumbai,” says Simi Saxena, a homemaker based in Malad.Saxena is convinced that the shopping centre has changed her life.“Earlier on when we used to look for a house we had to keep somany things in mind. We had to understand where to shop forvegetables, where the bread would be bought and whether childrencan play nearby. Now, with one of Mumbai's best shopping centres inour neighbourhood, there is no need to look for other elements,” shesays.Shopping centres can rightfully change the face of the area that they belong to. “It has certainly reduced my outings,”says Arti Loka, a resident of Mumbai's Mulund suburb. She is surprised that often the city's newest nightclub or F&Boutlet is in her neighbourhood.“I think the profile of the area has gone up. Our house is in a desirable location now. People are willing to pay apremium to stay here. It is because big brands and their outlets in our neighbourhood make people realise how muchserious money there is,” says Loka.That the area has come up and seems safe is also the work of a shopping centre, says hospitality executive BinduParihar who lives in Gurgaon. “There is a very strong feeling of safety in Gurgaon for me. And it is purely because theshopping centres in the area make it possible for me to stay within our four walls. I can shop for vegetables, grocery,get a haircut and never feel that I am out of place where women's safety is an issue,” she says.For many moms, this seems to be a plus factor when it comes to sending their teens out. “I never thought that Iwould allow my child to go out and work. I certainly never thought that her summer job would not give me tension,”says Ramona Shetty, a Bengaluru-based media executive whose teenage daughter puts in some hours working at thelocal shopping centre. “I think I did not worry about her because there was always a shopping centre around whenshe was at a problematic age. I think shopping centres allow teenagers to hang out without any adult supervision. Itis the perfect combination of feeling free while you are in a responsible setting,” she says.Saxena says that when 'going-to-a-mall' becomes a valid activity for everyone from breakfast-seekers to mallwalkers, shoppers and those who simply want to pay their bills, the destination has arrived.“A sale is not something you pursue, it's what happens toyou while you are immersed in serving your customer.”- AnonymousBackNext
S CA IIssue-2 l Vol-02 l March 2011INDUSTRY TALKSandeep Runwal, MD Runwal Construction“The expected roll out of GST will be a welcome change as it will help to standardise taxes.There is inflation in consumables, in an inflationary economy with GDP at 9%. We can expect this to continue, till wereach a threshold of consumption where the tipping point of saturation of volume cost reduction is reached.As the country evolves in an inflationary economy, parking and convenience will drive consumption. Given theconvenience of the mall format where customers can engage in shopping, leisure, entertainment, we anticipate thedevelopment of not just Large Format Destination Malls (1 million sq. ft. and above), like RCity (1.2 million sq. ft.) which has the largest nine screen multiplex, over 250 brands, thelargest food court, which caters to the entire city or a combination of suburbs, but alsosmaller format neighbourhood malls (5 lakh sq. ft. and below). The customer segmentslooking for branded options and the convenience of a mall will then consume FMCG,entertainment and even lifestyle from these malls. Already we are seeing this phenomenonacross cities and suburbs in Mumbai – R-Mall, Mulund which revolutionised the residentialsegment in suburb.The primary need of wholesale is to cater to the small, retail of 100 sq. ft. and less. As larger logistics andhypermarkets evolve and people can expect not just better prices, but also fresher food products, the role ofwholesale in the distribution chain will come to nought. So we will see the evolution of a three-step distributionformat – from the manufacturer to the hyper chains of all products to consumers.Anurag Mathur, JMD, Cushman & Wakefield“At a fundamental level there needs to be a policy level push on organised retail. There hasbeen a debate in the country about promoting organised retail at the cost of traditional retailformats. But the growth in organised or modern retail is still in single digit numbers.There is acertain efficiency that needs to be built in. There is a crying need for a mechanism, for modernefficiency in retail to come. This does not come at the expense of anything else. They can workhand in hand.’’The GST is going to be a major tax reform. Retail will have a major benefit coming to them.The supply chain needs focused improvement. There is recognition at policy level. The samething needs to continue into modern retailing concepts. I do see that modern retail developerswill be included in the infra sector.Anurag Mathur, JMD,Cushman & WakefieldThere is deep rooted and fundamental impact that modern retail is having already. I know that there are smallretailers, mom and pop shops, they are not buying from the market but going to Metro Cash and Carry and Bharati.These are big things.As new retailers come in, they will demand certain things. They want circulation of footfalls. They know where thefood, apparel, hypermarkets, parking be in comparison; and where there should be trolley movement in the area. Youcan do it by trial and error or you can learn from the way people have done it all over the world. That is what FDI willbring in, not just the capital.’’ - As told to Shalini SethBackNext
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Mall Talk Issue March - Scai.in

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