: As e-commerce giants continue to attract more customers with their high-decibel sales, malls in Delhi and the National Capital Region (NCR) are coming up with a number of initiatives to remain competitive. From offering just two sale seasons a year, malls are now delivering frequent “in-house sales” and using hi-tech methods to track the behaviour of customers. A few years ago, there were only two-three major sales across different malls and these were offered during summers, winters (Christmas and New Year), and sometimes around Diwali. However, in the wake of mega sales and full-page advertisements by e-commerce companies, the brick-and-mortar stores have now started to offer sales during almost all festivals including Diwali, Dussehra, Christmas, New Year, Baisakhi, Navratris, Ganesh Chaturthi. Even high streets, the most popular one being Connaught Place in Delhi, are following the trend. For Chief Executive Yogeshwar Sharma of Select Citywalk, the key is to be at par with technology and creativity.
“We have hired an IT team that has come up with a new technique of tracking which section of a store a visitor first chooses to step into, how much time s/he spends there and so on. It is to understand consumer behaviour so that we can come up with modifications in our marketing strategy,” he said.
The average daily footfall at the mall is 35,000, but it shoots up to 65,000 during Diwali. Opening of stores like H&M and Zara are another reason for the rise in footfall.
Emphasising the importance of “attractive offers” , Mr. Sharma said, “Offers like free make-up sessions or a hairdo are a big hit. Then there are corporate social responsibility (CSR) activities, wherein, we took patients of Multiple Sclerosis for a free movie.” Another strategy which is adopted by almost every brick and mortar store these days is theme-based decoration. In fact, in all festivals, they ensure these malls are decked up in the festive flavour.
Munish Baldev, head of retail at The Great India Place in Noida, believes that malls still have an edge over virtual competitors as it lets people have the “touch-and-feel” experience. “The e-commerce industry primarily caters to the interior population of the city where malls can’t reach. In brick and mortar model it is not only about buying things, it is more about recreation and entertainment. The online shopping market till now has been able to capture about 8-10 per cent of India’s market share,” he said.
Another reason could be to attract value-conscious shoppers and deal-hunters, maintained Anuj Puri, Chairman and Country Head of JLL India. “These shoppers will buy non-luxury items only when they see a discount or sale that they equate to value for money. They do not wait for Diwali to make important purchases. This explains why physical retail has been holding such sales frequently. With rising disposable incomes and changing demographics, the tendency to spend on shopping throughout the year has increased,” he said.
Another strategy which is adopted by almost every brick and mortar store these days is theme-based decoration. In fact, during all festivals, they ensure these malls are decked up
No comments:
Post a Comment