http://www.managementparadise.com/forums/SHOPPERS WANT IT ALL, AND THEY’LL GET IT
The Times of India
Shoppers want it all… ritzy malls, more choices, international ambience, bargain prices. Asking for the moon? Well, why not? As global names in mega retail head for India, while the neighbourhood store battles MCD sealing, DT on the importance of being an Indian shopper, circa 2006 and beyond...
To retail majors all over the world, India looks like a huge pie… a pie worth $250 billion, which is growing like crazy every year. And everybody wants a share. But even as the government and the economists try to understand the details and nuances that come with this package, there is a huge number of people who can’t stop celebrating. They are the avid mall ratters who love populating these ritzy hangout joints. With their mantra of ‘have money, will spend’, they are powering a major boom. But they want their pound of flesh in return, which translates into a bigger and better shopping experience every time they venture out with shopping bags in hand. In fact, they want something glitzy enough to give their NRI friends and relatives living in shopping havens like Singapore or New York or Dubai, a serious case of heartburn. Says Diya Ahluwalia, an avid shopper, “My friends abroad are always discussing 24-hour malls in Singapore or the shopping experience at the Fifth Avenue. For a tourist, the main attraction of a city lies in its shopping options, and the best Delhi could come up with all this time was a GK or MG Road. Although there are so many malls in the city now, we still haven’t met international standards.”
All that has already been changing and if markets trends are to be believed, will change faster, soon. From an Ambani to a Mittal, from the Godrejs to the Birlas, from Wal-Mart to Lotte, everybody is ready with their plans to kickstart a retail revolution in India. And unlike your nearest mall where you went to get the branded or designer stuff, you would shop at these mega malls or hyper marts for anything from groceries to consumer durables to daily knickknacks.
The Times of India
Shoppers want it all… ritzy malls, more choices, international ambience, bargain prices. Asking for the moon? Well, why not? As global names in mega retail head for India, while the neighbourhood store battles MCD sealing, DT on the importance of being an Indian shopper, circa 2006 and beyond...
To retail majors all over the world, India looks like a huge pie… a pie worth $250 billion, which is growing like crazy every year. And everybody wants a share. But even as the government and the economists try to understand the details and nuances that come with this package, there is a huge number of people who can’t stop celebrating. They are the avid mall ratters who love populating these ritzy hangout joints. With their mantra of ‘have money, will spend’, they are powering a major boom. But they want their pound of flesh in return, which translates into a bigger and better shopping experience every time they venture out with shopping bags in hand. In fact, they want something glitzy enough to give their NRI friends and relatives living in shopping havens like Singapore or New York or Dubai, a serious case of heartburn. Says Diya Ahluwalia, an avid shopper, “My friends abroad are always discussing 24-hour malls in Singapore or the shopping experience at the Fifth Avenue. For a tourist, the main attraction of a city lies in its shopping options, and the best Delhi could come up with all this time was a GK or MG Road. Although there are so many malls in the city now, we still haven’t met international standards.”
All that has already been changing and if markets trends are to be believed, will change faster, soon. From an Ambani to a Mittal, from the Godrejs to the Birlas, from Wal-Mart to Lotte, everybody is ready with their plans to kickstart a retail revolution in India. And unlike your nearest mall where you went to get the branded or designer stuff, you would shop at these mega malls or hyper marts for anything from groceries to consumer durables to daily knickknacks.