You are here: Home » News-CM » Economy » News
Business Standard

Shopping malls facing up to e-commerce challenge: ASSOCHAM

Capital Market 

Faced with heavy discounts from e-commerce, shopping mall owners in major cities are shaping back, going aggressive in the run up to offering freebies and easy finance options, hoping to win back the footfalls and increase their business by at least 45-50 per cent in the ongoing festive season as compared to similar period last year, an paper has noted.

Armed with new sales strategy of giving a shopping and festive feel to the consumers, the malls in -NCR, Mumbai, Jaipur, Chandigarh, Hyderabad, Ahmedabad, and have already started seeing increased activity while still 10 days away, as per the feedback received from the retailers.

This is also attributable to the malls, which had come under the twin pressure of slowdown and e-commerce onslaught by way of deep discount, getting their promotional marketing right. Many of them have tied up with the manufacturers of consumer durables and fashion wears for tempting schemes with easy finance options like TV, refrigerators, off-season AC sale and even high end mobile phone handsets.

"In any case, there is a better market experience this festive season, which is expected to give a leg-up to the consumer sentiment," Secretary General Mr D S Rawat said.

The study is conducted based on responses from 750 leasing managers, management representatives of malls, strategists, marketers and supervisors in Delhi-NCR, Mumbai, Ahmedabad, Chennai, Kolkata, Hyderabad, Bengaluru, and Dehradun.

The study noted that most of the retailers and consumer durable goods makers were upbeat about brisk business during the third quarter and therefore increased their overall marketing budget by about 30 percent to 40 percent for this period alone. They plan to conduct these promotional activities until early January, it added.

Some malls in national capital reported record business on weekends as buyers rushed to get clothes, food, jewellery and cosmetics for celebrations. In value terms, the growth is 20 percent higher than the previous year while in volume terms it could be around 10-15 percent higher, reveal the mall managers.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Shopping malls facing up to e-commerce challenge: ASSOCHAM

Armed with new sales strategy of giving a shopping and festive feel to the consumers, the malls in Delhi -NCR, Mumbai, Jaipur, Chandigarh, Hyderabad, Ahmedabad, Bengaluru and Chennai have already started seeing increased activity while Diwali still 10 days away, as per the feedback received from the retailers. Faced with heavy discounts from e-commerce, shopping mall owners in major cities are shaping back, going aggressive in the run up to offering freebies and easy finance options, hoping to win back the footfalls and increase their business by at least 45-50 per cent in the ongoing festive season as compared to similar period last year, an paper has noted.

Armed with new sales strategy of giving a shopping and festive feel to the consumers, the malls in -NCR, Mumbai, Jaipur, Chandigarh, Hyderabad, Ahmedabad, and have already started seeing increased activity while still 10 days away, as per the feedback received from the retailers.

This is also attributable to the malls, which had come under the twin pressure of slowdown and e-commerce onslaught by way of deep discount, getting their promotional marketing right. Many of them have tied up with the manufacturers of consumer durables and fashion wears for tempting schemes with easy finance options like TV, refrigerators, off-season AC sale and even high end mobile phone handsets.

"In any case, there is a better market experience this festive season, which is expected to give a leg-up to the consumer sentiment," Secretary General Mr D S Rawat said.

The study is conducted based on responses from 750 leasing managers, management representatives of malls, strategists, marketers and supervisors in Delhi-NCR, Mumbai, Ahmedabad, Chennai, Kolkata, Hyderabad, Bengaluru, and Dehradun.

The study noted that most of the retailers and consumer durable goods makers were upbeat about brisk business during the third quarter and therefore increased their overall marketing budget by about 30 percent to 40 percent for this period alone. They plan to conduct these promotional activities until early January, it added.

Some malls in national capital reported record business on weekends as buyers rushed to get clothes, food, jewellery and cosmetics for celebrations. In value terms, the growth is 20 percent higher than the previous year while in volume terms it could be around 10-15 percent higher, reveal the mall managers.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Shopping malls facing up to e-commerce challenge: ASSOCHAM

Faced with heavy discounts from e-commerce, shopping mall owners in major cities are shaping back, going aggressive in the run up to offering freebies and easy finance options, hoping to win back the footfalls and increase their business by at least 45-50 per cent in the ongoing festive season as compared to similar period last year, an paper has noted.

Armed with new sales strategy of giving a shopping and festive feel to the consumers, the malls in -NCR, Mumbai, Jaipur, Chandigarh, Hyderabad, Ahmedabad, and have already started seeing increased activity while still 10 days away, as per the feedback received from the retailers.

This is also attributable to the malls, which had come under the twin pressure of slowdown and e-commerce onslaught by way of deep discount, getting their promotional marketing right. Many of them have tied up with the manufacturers of consumer durables and fashion wears for tempting schemes with easy finance options like TV, refrigerators, off-season AC sale and even high end mobile phone handsets.

"In any case, there is a better market experience this festive season, which is expected to give a leg-up to the consumer sentiment," Secretary General Mr D S Rawat said.

The study is conducted based on responses from 750 leasing managers, management representatives of malls, strategists, marketers and supervisors in Delhi-NCR, Mumbai, Ahmedabad, Chennai, Kolkata, Hyderabad, Bengaluru, and Dehradun.

The study noted that most of the retailers and consumer durable goods makers were upbeat about brisk business during the third quarter and therefore increased their overall marketing budget by about 30 percent to 40 percent for this period alone. They plan to conduct these promotional activities until early January, it added.

Some malls in national capital reported record business on weekends as buyers rushed to get clothes, food, jewellery and cosmetics for celebrations. In value terms, the growth is 20 percent higher than the previous year while in volume terms it could be around 10-15 percent higher, reveal the mall managers.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard