IIPM- News Articles: Biggest Shock

Tuesday, April 08, 2008

Uhh ohh... Is that a stunned silence we hear on the other side of the answer tube? Recent t

imes have clearly been a reality shock for many of the entrepreneurs and shop owners who have invested in malls. And the biggest shock has been more a cultural one, what with industry players belatedly realising that a humungous majority of mall visitors enter malls simply for the entertainment experience of it all, rather than to go about purchasing goods and services. Think about it. What’s the cheapest ‘outing’ option for a wholesome handful family on a weekend afternoon in the heat of a killing summer? Let’s go rock the air conditioned malls baby! Clearly, the mall mania was restricted to playing host to hordes of ‘junta’ visitors and was never on a mode to churn out real moolah, and today, even small towns are going through the same cyclical theory titled mallmania- gone-bust!

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative