Growth Of Mall Essay

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FACTORS RESPONSIBLE FOR GROWTH OF MALLS One of the main reasons for the growth of modern retail is the fact that people today, especially from the middle and upper middle class have a large chunk of disposable income due to a dynamic and growing economy and hence the rising levels of income. This results in them spending more than ever before. Another aspect which has to be mentioned here is that the youth today are no longer depended on their parents to fulfil their needs and wants. All their necessities today are being covered by themselves because they themselves are earning a good amount of money due to rising employment opportunities in the country. They today spend a lot of money to satisfy their necessities. They spend on electronic…show more content…
The fact is established as 53.6% of the respondents said that discount schemes on offer often enthral them into visit shopping malls. (8) Shopping Mall endorsement. Shopping malls thrive on the fact that people consider them to be centres for fun and frolic. They make use of this assumption by organising activities like food festivals, handicrafts exhibition. Another aspect which begs for attention here is that shopping malls often invite celebrities like movie stars and cricketers for events like inauguration and activities and cash on the large number of turnouts to see these celebrities. (9) Keeping up with the “in” thing in the markets. Customers today have become demanding than ever before. They seek the latest fads in town and want to be upgraded on a regular basis. They are extremely fashion conscious and won’t shy away from spending large chunks of amounts to be updated with what they call as the “in” thing. What justifies this claim is the fact that around 40 % of the respondents to the study said they visit shopping mall for the latest fashion in apparels and to buy the latest gadgets available in the

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