🇮🇳 Why INDIAN Shopping Malls Becoming Ghost Malls | Shopping Malls Dying in India?
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- Опубліковано 31 тра 2024
- #infratalks #ghostmall #shoppingmall #india #malls
Introduction
Recently, a report by Knight Frank revealed that Indian shopping malls are quickly turning into ghost malls. Once prestigious, these malls are now deserted. This is surprising because India is the world's second-largest consumer market.
History of Malls in India
The journey of malls in India started with Spencer Plaza in Chennai, built between 1863-1864. Then came Crossroads in Mumbai and Ansal Plaza in Delhi in 1999. However, the real boom began after 2003, with many malls opening in big cities like Mumbai, Delhi, Kolkata, Bangalore, Chennai, Hyderabad, Pune, and smaller cities like Gurugram, Noida, and Ghaziabad. MG Road in Gurugram saw a row of malls being built one after another.
The Decline
Initially, malls were very popular and crowded. But many visitors were there for leisure and not for shopping. By 2011, malls had become places for entertainment, gaming, food joints, restaurants, bars, and multiplexes. Despite these changes, several factors led to the decline of malls, turning them into ghost malls.
Main Reasons for the Decline of Malls
The Rise of E-commerce
Online shopping greatly reduced the number of people visiting malls. With mobile apps, people could shop from home, the car, or the office, often with good discounts. This trend grew even more during the COVID-19 pandemic.
The COVID-19 Pandemic
The pandemic caused many malls to close for a long time, leading to heavy losses for local retailers. Changes in shopping behavior, with more people preferring online shopping, made things worse.
High Operational Costs
Running a shop in a mall is expensive due to high rent, electricity, maintenance, security, staff salaries, and marketing costs. These costs are two to three times higher than in local markets, forcing many retailers to move to more affordable locations.
Unplanned Construction of Malls
Many malls were built without proper planning. Some were in congested areas with limited parking and poor public transport, making it hard for customers to visit. Others were in places with low population density and purchasing power. Many malls failed because they didn't do proper market research.
Intense Competition Among Malls
In cities, multiple malls often open on the same street, creating tough competition. Newer malls with better facilities attract more people, while older malls struggle due to poor maintenance and outdated infrastructure.
Ineffective Marketing
Effective marketing is crucial for a mall's success, but many Indian malls lack good marketing strategies, leading to low visibility and fewer visitors.
High Cost of Shopping in Malls
Shopping in malls is often more expensive than online or local market shopping. Extra costs for dining, entertainment, parking, and other activities make it less attractive for budget-conscious shoppers.
Current Situation
Today, there are over 64 ghost malls in India, with their number increasing by 59% every year. Many malls have been demolished or converted into co-working spaces. For example, a ghost mall in Jhajjar, Haryana, now hosts a roadside eatery. Before COVID-19, Gurugram's Ansal Plaza was operational but now looks like a ruin.
This issue isn't just in India. In countries like the USA and Canada, ghost malls, known as dead malls, are also increasing. This global trend shows a significant shift in consumer behavior and market dynamics.
Conclusion
Understanding why malls are failing is important for future planning and retail strategies. As consumer preferences change, the retail industry must adapt to survive and thrive.
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I noticed that clothings in mall are dull and expensive
As compared to independent stores
Biggest resone is Online Shopping.
That's true
Reason*
Resonance*
When you write some thing wrong then so many peoples replay and like on this comment.😁😁😁😁 that's why i write reason spelling wrong.
I dont like waiting in big ques. To pay bills. To change clothes.
Please make videos on Northeast India
I would like to add that online options have risen in quality too
Please make video on shiv smarak and eastern waterfront project and dharvi redevelopment project of mumbai
Make a Video Rajasthan Upcoming Megaprojects 😊
Bro keep it up your content is superb ❤ pls never give up ❤🎉
Thank you, I will
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Malls pehle to bohout expensive hote hai, koi bhi wahan samaan khareedne nahi jaata.....kuch rahees log hi jaate hai...... rahees log bhi independent shops jaate hai....
Dusra, jaise bhaiye ne kahan, log mostly movies dekhne jaate hai....
Ab jo mall hai wo foreign concept hai market plaza ka, hamare yahan already market ka concept alag hai, aur mostly street side market/shops zyada chalan me hoti hai jahan saste sundar tikau samaan mil jaaye.... sabse main point, malls city ke bahar kisi konte me banaye jaate hai, jo main market se door hote hai.... To malls ka koi use hi nahi hai India ke tier 3 cities me, tier 2 cities me bhi nahi shayad.
Phir online shopping bhi hai.
Ab agar kisiko naya mall banana hi to, mostly esi cheezo par dhyaan de jisme enjoyment ka scene zyada ho jaise food court, movie screens, uske saath koi club bana diye alchoholic ya non alchoholic, bowling wagera bana diye, cafes, restraunts. Jahan log enjoy kar sake to wo zyada chalega as compared to simple and boring showing complex in the name of mall.
Agra project ke upar video banao plz Bhai aap hi Hain Jo detail mein hi bahut acchi video banate hain
Mathura ke ho bhai Holigate dikhaya video me😅
Is south city mall Kolkata a ghost mall???
Indeed It Is
@@harnishraval2612 I don’t think
@@nakshsinghania9342 How Asked You Opinion On It?
south by no means is a ghost mall bro
Please do megaprojects of karnataka
Please check this video i already did [ ua-cam.com/video/MfGq5i5sFjA/v-deo.html ]
हमारे ऩांदेड मै भी ऐक Gost mall है । पहले तो काभी भिड लाईन हुवा करती थी अब । कोई नही जाता । दुकाने खाली पडी है । जिन दुकानो मै माल पडा है वहा कोई keeper नही ।
Mujhe lagtha jyada expensive hotha hai,
gurgaon me 15 mall ghost h
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Ab bhool jao rapid infrastructure development kyoki coalition government me sab kaam slow hota hai ya to hota hi nahi hai😑
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Job ka ghatna aur mahangai ka badhana logon ki income power kam hona yah mall ka fail hone ka Karan hai
Modi ji yeh dekho,GDP hai yeh.new generation badh rahi hai dekho dekho
Ye sab Covid ke baad hua hai
@@Prakhar2410 hanji sir yeh covid is ek baana tha,jo inhe mil gya but people understands
@@simarabrol1448 Covid ke baad habit change hui aur logo ko online ki aadat lagi. Mei 8 saal pehle bhi utna hi saaman khareedta tha jitna aaj khareedta hu, bas difference yahi hai ki pehle kapde, groceries, etc mei mall mei jake khareedta tha, aap apna bhi check karoge to pata chalega ki aaj bhi utna hi khareedte hoge aap
China ka 10% growth na hote hi ghost mall ho raha hain. India has no hope
Ye sab Covid ke baad hua hai