Malls expect 75% rise in footfall during Diwali

With the onset of annual festive season malls and shopping complexes in Ahmedabad are expecting an increase of about 75 per cent in the visitor footfall as retailers along with the consumer durable firms are offering a plethora of attractive incentives like discounts, free gifts and interest free finance options to rev up sales and perk up consumer confidence, according to a just concluded survey by apex industry body The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

“Malls in the city are likely to spend over Rs 120 crore to Rs 150 crore on decoration including contemporary lighting and promotional campaigns during the festive season that started in the last week of September and will continue till early November,” said Bhagyesh Soneji, chairperson of Assocham Gujarat council.

Assocham interacted with about 250 leasing managers, representatives of malls’ management, strategist, marketers and supervisors in Ahmedabad to gauge their mood and preparation to engage and attract consumers during the traditional festival season.

Majority of respondents reckoned that skyrocketing inflation coupled with ever-rising fuel prices, interest rates and inflation the buyers’ confidence was shaken and they witnessed a dip in the footfall by about 20 per cent during the first two quarters of FY 2011-12. Most of the retailers and consumer durable goods makers said that they had increased their overall marketing budget by about 30 per cent for this period alone. “Retailers and consumer durable goods’ makers are expecting an increase of about 45 to 60 per cent in the sales during this period,” added Soneji.

Almost all the respondents said that they have outlined marketing strategies and innovative promotional activities and offering value-added services to draw crowds and spur sales conversions during the upcoming festive season. These activities will continue till early January.