Shopping Mall Essay
To conclude, the large shopping malls do have their advantages, but depletion of small shops causing an imbalance in economy outweighs their advantages and therefore I believe that large shopping malls should not replace small shops. Nowadays a popular trend in shopping is the establishment of large shopping malls. Because of the popularity of department stores small shops are at a risk of closure.
This essay will discuss convenient shopping experience and a cheaper price as advantages of large shopping malls compared to small shops. Shopping at a department store is a more convenient experience than going to several traditional shops to purchase several types of items. In shopping malls, all of the items available under one roof and ample parking facilities are also provided. The customer is able to load grocery items, vegetables, fish, fruit, stationary or any other products into a shopping cart and pay at the cashier.
Since easier shopping mechanism people prefer shopping malls rather than small shops. Prices of goods in shopping malls are less expensive than other shops.
There are various methods which provide financial benefits for customers. For instance, there are discount schemes, reward points and promotions are provided even if you visit any of the branches scattered throughout the country. Hence ultimately customers are able to buy good quality products at a cheaper rate. Recently, there has been a tremendous increase in the number of shopping malls in Chennai.
The reason for the sudden upheaval of so many shopping malls can be related to globalization taking its pace. The growth factors for the shopping malls are the conscious citizens who prefer a sophisticated environment to shop and also with so many international brands making its presence in India, it has created the need to establish a place which has everything within one roof. The concept of shopping malls in India is largely gaining popularity as it attracts customers by way of excellent ambience, style and elegance, having the potential to make one shop and enjoy the experience as well.
Adding to the list are the upcoming Chennai Central, Ramee Mall etc. The type of sampling used for the study will be Stratified Sampling, as there will be a difference among the people pertaining to age, occupation and income level. Data will be collected by way of Primary and Secondary data.
Primary data will be collected by way of a questionnaire, and a field survey of a sample will be conducted in some of the busiest areas in Chennai such as T.
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Nagar, Adyar, Nungambakkam and Alwarpet. Consumers will be directly approached and presented with a questionnaire which will be designed to gain information on their monthly income, general buying preferences, visiting preferences and expectations of a mall. Secondary source of data will be collected by way of magazines, internet news articles, journals and other sites.
Shopping Mall Essay | Major Tests
The type of the research carried out will be an exploratory research, as it gives first hand information, which is primary data and often more reliable than secondary data. The data collected from samples will be tabulated, analyzed and interpreted for results. The collected data will be analyzed statistically. The Chi Square test will be of help in determining the difference between the observed and the expected values.
For simplifying the analysis of the collected data, the data will be tabulated and presented graphically for easier understanding as well. They usually feature two anchor stores which are larger than that of a neighborhood center's, e. They may also follow a strip configuration, or may be L- or U-shaped.
A regional mall is, per the International Council of Shopping Centers, in the United States, a shopping mall which is designed to service a larger area than a conventional shopping mall. Given their wider service area, these malls tend to have higher-end stores that need a larger area in order for their services to be profitable but may have discount department stores. Regional malls are also found as tourist attractions in vacation areas. Fashion or specialty centers feature apparel shops and boutiques and cater to customers with higher incomes.
Power centers are small shopping centers that almost exclusively feature several big-box retailers as their anchors. Theme or festival centers have distinct unifying themes that are followed by their individual shops as well as their architecture. They are usually located in urban areas and cater to tourists. An outlet mall or outlet center is a type of shopping mall in which manufacturers sell their products directly to the public through their own stores.
Other stores in outlet malls are operated by retailers selling returned goods and discontinued products, often at heavily reduced prices. Outlet stores were found as early as , but the first multi-store outlet mall, Vanity Fair , located in Reading, PA did not open until Belz Enterprises opened the first enclosed factory outlet mall in , in Lakeland, TN , a suburb of Memphis. A common feature of shopping malls is a food court : this typically consists of a number of fast food vendors of various types, surrounding a shared seating area.
When the shopping mall format was developed by Victor Gruen in the mids, signing larger department stores was necessary for the financial stability of the projects, and to draw retail traffic that would result in visits to the smaller stores in the mall as well. These larger stores are termed anchor store or draw tenant. In physical configuration, anchor stores are normally located as far from each other as possible to maximize the amount of traffic from one anchor to another. Frequently, a shopping mall or shopping center will have satellite buildings located either on the same tract of land or on one abutting it, on which will be located stand-alone stores, which may or may not be legally connected to the central facility through contract or ownership.
These stores may have their own parking lots, or their lots may interconnect with those of the mall or center. In the United States, in the mids, malls were still being constructed at a rate of a year. In , a year before the Great Recession , no new malls were built in America, for the first time in 50 years. In recent years, the number of dead malls increased significantly in the early twenty first century because the economic health of malls across the United States has been in decline, with high vacancy rates in these malls.
Some real estate experts say the "fundamental problem" is a glut of malls in many parts of the country creating a market that is "extremely over-retailed". In parts of Canada, it is now rare for new shopping malls to be built. Outdoor outlet malls or big box shopping areas known as power centers are now favored, although the traditional enclosed shopping mall is still in demand by those seeking weather-protected, all-under-one-roof shopping.
In Russia , on the other hand, as of [update] a large number of new malls had been built near major cities, notably the MEGA malls such as Mega Belaya Dacha mall near Moscow. In large part they were financed by international investors and were popular with shoppers from the emerging middle class. In the United States, owners are making drastic moves to convert struggling malls. This includes converting malls into apartments, offices and industrial space. Other owners have taken the approach to turning large chunks of malls into parks and playgrounds.
In Austin, Texas, Highland Mall was converted into a community college. Much of the , square foot mall will be the home of Austin Community College. The challenge of this type of mall is to overcome the natural tendency of shoppers to move horizontally and encourage shoppers to move upwards and downwards. It contains a hotel, luxury condominiums, and office space and sits atop a block-long base containing an eight-level atrium-style retail mall that fronts on the Magnificent Mile. Vertical malls are common in densely populated conurbations such as Hong Kong, Jakarta, and Bangkok.
Times Square in Hong Kong is a principal example. A vertical mall may also be built where the geography prevents building outward or there are other restrictions on construction, such as historical buildings or significant archeology. Faced with the exploding popularity of buying online , shopping malls are emptying and are seeking new solutions to generate traffic. In the US, for example, roughly out of 1, malls across the country are going out of business.
Shopping Mall Essay
In Q3 , it comprised 3. A shopping property management firm is a company that specializes in owning and managing shopping malls. Most shopping property management firms own at least 20 malls. In the UK, The Mall Fund changes the name of any center it buys to "The Mall location " , using its pink-M logo; when it sells a mall the center reverts to its own name and branding, such as the Ashley Centre in Epsom.
Shopping center management and advisory firms are bringing about professional management practices to the largely fragmented shopping center development industry in India. Historically, land ownership in India, has been fragmented and as a byproduct shopping center development, which rendered the single mall developers vulnerable to dubious advice and practices, since standard benchmarks, knowledge resources, and skilled people were scarce.
This is changing as new firms promoted by former shopping center managers are stepping in to bridge the gap between ownership and professional management. Beyond Squarefeet  from India is another mall management company, which is foraying into various other countries such as India, Iran, Nepal, Nigeria, Qatar, etc.
Mall management is slowly becoming a trend and is much sought after services in Asia and other markets. One controversial aspect of malls has been their effective displacement of traditional main streets or high streets. Some consumers prefer malls, with their parking garages, controlled environments, and private security guards , over CBDs or downtowns , which frequently have limited parking, poor maintenance, outdoor weather, and limited police coverage.
In response, a few jurisdictions, notably California , have expanded the right of freedom of speech to ensure that speakers will be able to reach consumers who prefer to shop, eat, and socialize within the boundaries of privately owned malls. Lulu Mall - Cochin , the largest shopping mall in India. Tunjungan Plaza in Surabaya , Indonesia. CentralWorld in Bangkok , Thailand. West Edmonton Mall in Alberta , Canada. Iguatemi Fortaleza Shopping in Fortaleza , Brazil. Mal Taman Anggrek in Jakarta , Indonesia.
Sunway Pyramid in Subang Jaya , Malaysia. Siam Paragon in Bangkok , Thailand. Inorbit Mall, largest shopping mall in Hyderabad , India. Phoenix Mall , largest in Bangalore , India.