Delhi has seen it's share of malls. There was Ansal Plaza the first and once the grandest mall in New Delhi. For years it ruled the market attracting shoppers all over from Delhi and regions near by. Some years down the line the GMS {Gurgaon Mall Syndrome} started and shoppers flocked to Gurgaon where every few blocks a new mall was cropping up. The competition got stiffer and malls felt the heat.
Amidst all of this a new mall came up. Select City Walk, Saket. Right from the start people knew it was going to be big and so did it's founders and today it stands tall. The 6 acre mall is today India's premier shopping destination.The question remains why is it so different?
1. The owners realized that the cost of developing the mall could be recovered by retailing a large portion of the mall. Hence, they brought in svelte thereby earning a part of their costs.
2. The major revenue malls earn is from food. Select City didn't sell out to other food businesses. The food court is standard offering a variety of cuisines with absolutely no competition. The rates are relatively high as the food court is run by the mall owners.
3. Select City also is the hub of premier flagship stores, from Esprit to Tommy Hilfiger.
4. Select City also has exclusive stores of international brands. Zara and Calvin Klien along with Hagen Dasz add to the mall's attractiveness.
5. The Flea market held every Wednesday brings in huge crowds thereby resulting in larger footfall and greater profits.
6. The mall has maintained it's reputation,the authorities keep the mall clean and run it efficiently. Thus, consumers get a much better shopping experience and choose it over other malls every single time.
7. Select City also charges an hourly parking rate unlike other malls which sort of adds to their revenue.
8. Select City is probably one of the first malls to introduce open shops in the country. Small spaces on each floor are given to retailers who cannot afford larger shops or do not wish to buy shops. Hence, Select City earns a major chunk from rent as rents range anywhere between 650-750 per sq foot.*
So the next time you visit Select City take a closer look at the little things and you'll figure out why some businesses work and others do not.
Loads of Business Sense
-Doodle
*Source : Wikipedia
1. The owners realized that the cost of developing the mall could be recovered by retailing a large portion of the mall. Hence, they brought in svelte thereby earning a part of their costs.
2. The major revenue malls earn is from food. Select City didn't sell out to other food businesses. The food court is standard offering a variety of cuisines with absolutely no competition. The rates are relatively high as the food court is run by the mall owners.
3. Select City also is the hub of premier flagship stores, from Esprit to Tommy Hilfiger.
4. Select City also has exclusive stores of international brands. Zara and Calvin Klien along with Hagen Dasz add to the mall's attractiveness.
5. The Flea market held every Wednesday brings in huge crowds thereby resulting in larger footfall and greater profits.
6. The mall has maintained it's reputation,the authorities keep the mall clean and run it efficiently. Thus, consumers get a much better shopping experience and choose it over other malls every single time.
7. Select City also charges an hourly parking rate unlike other malls which sort of adds to their revenue.
8. Select City is probably one of the first malls to introduce open shops in the country. Small spaces on each floor are given to retailers who cannot afford larger shops or do not wish to buy shops. Hence, Select City earns a major chunk from rent as rents range anywhere between 650-750 per sq foot.*
So the next time you visit Select City take a closer look at the little things and you'll figure out why some businesses work and others do not.
Loads of Business Sense
-Doodle
*Source : Wikipedia
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