Flashy Malls Aren’t Really Hot: Survey

A recent survey has revealed that Malls and large-format grocery stores might be crowd pullers, but it’s only 25-30% of the top-end consumers who actually shop in this kind of an environment.

According to Vineet Verma, CEO, Bengal Ambuja, promoters of City Centre Mall in Salt Lake, Kolkata, said, “About 70% of Indian consumers, across cities and towns, feel uncomfortable shopping in a sanitized, air-conditioned, steel and glass environment. They still prefer a traditional bazaar-style shopping.” 

According to industry sourcess, the Indian organised retail industry is expected to grow to about 10% in 2010 from the 3% in 2004, predominantly riding on rising liquidity levels, which in turn fuels changing tastes and increase in consumer aspirations. Aiding the retail industry will be improved real estate infrastructure.