Tuesday, April 08, 2008

‘Shop lifting’

The nation got introduced to new techniques of ‘shop lifting’, and newer more introduced to ‘stop lifting’! Economists found more fashionable jargons – footfalls being the most famous. And as a domino effect, after seeing the high attraction quotient for crowds, more and more entrepreneurs started introducing newer and newer malls. Consequently, Noida, Gurgaon, Ghaziabad, Delhi, Bangalore, Mumbai, Kolkata, Chennai, all saw the trend spitfiring up. Ernst & Young, A. C.Nielsen, and a plethora of other consulting firms vouched failsafe for the fact that as the organised retail market was not even 2% of the overall market, malls had everything rocking for them. The more, the crazier! All in all, the mall mania seemed to be thundering up like nobody’s business. But what about actual sales? Did anyone care to track how many footfalls actually got converted into retail purchases? Did some consulting firm even worry about comparing whether, with the unbelievably high real estate prices, mall sales were actually giving a return on investment?

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2008

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

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