THE ART OF CRE­AT­ING A SHOP­PING DESTI­NA­TION

Images Retail - - ADVERTORIAL - BY GOPAL K. RATHOR (DI­REC­TOR – ROMA VEN­TURES) URL: www.ro­maven­tures.in E-mail: info@ro­maven­tures.co.in

Build­ing a shop­ping mall is an easy job, but cre­at­ing a shop­ping desti­na­tion which de­lights the shop­pers is an art. There are many malls mush­room­ing across In­dia but only a few are suc­cess­ful. The rea­son is lack of knowl­edge or ex­pe­ri­ence in trans­form­ing the mall into a shop­per’s par­adise. Roma Ven­tures is a pro­fes­sional leas­ing con­sul­tancy ¾rm based at New Delhi and man­aged by Gopal K Rathor. Roma Ven­tures re­cently en­tered into re­tail by join­ing hands with pre­mium men’s footwear brand CLOG Lon­don to ex­pand its foot print. Build­ing a shop­ping mall is an easy job, but cre­at­ing a shop­ping desti­na­tion which de­lights the shop­pers is an art. There are many malls mush­room­ing across In­dia but only few are suc­cess­ful. Rea­son is lack of knowl­edge or ex­pe­ri­ence in trans­form­ing the mall into a shop­per’s par­adise. Malls which are suc­cess­ful are un­able to face com­pe­ti­tion once new mall comes up nearby. New de­vel­op­ers ven­tur­ing into this ¾eld must seek pro­fes­sional guid­ance from con­sul­tants who have been in­stru­men­tal in leas­ing and man­ag­ing of many suc­cess­ful malls. Gopal K Rathor who is head­ing Roma Ven­tures is a pro­fes­sional who pro­vides the ex­pert guid­ance to cre­ate a suc­cess­ful shop­ping desti­na­tion. “A suc­cess­ful mall should have mix of en­ter­tain­ment, kids play area, shop­ping, F&B and hos­pi­tal­ity with proper am­bi­ence to make a strong im­pact on a shop­per’s mind. The mall it­self must of­fer a com­plete ar­ray of ser­vices and fa­cil­i­ties for all age groups un­der one roof to en­sure re­peat vis­its. All these can be planned suc­cess­fully on ba­sis of lots of fac­tors which a spe­cial­ist can guide.” said Rathor. Nowa­days; Tier II and III cities are ex­pe­ri­enc­ing the re­tail boom. New shop­ping des­ti­na­tions are com­ing up at these cities. De­vel­op­ers are also fo­cus­ing on man­ag­ing the malls and are hir­ing pro­fes­sional agen­cies to do so. Due to it the malls in such cities are do­ing great busi­ness and re­tail­ers also reap the ben­e­fits. Real Es­tate plays a very im­por­tant part in cre­at­ing a shop­ping desti­na­tion. Con­trol­ling the real es­tate fac­tor in re­tail is very im­por­tant as it is the high­est over­head in a re­tail store. Re­tail in­dus­try is grow­ing at a phe­nom­e­nal pace and we are yet to see lots of changes in re­tail and real es­tate sec­tor. Fu­ture of re­tail is bright in In­dia due to high spend­ing power of con­sumers and strong econ­omy. All in­ter­na­tional brands are eye­ing to en­ter In­dia and grasp the op­por­tu­nity. The next 5 years will see a vast growth in In­dia’s shop­ping cen­ters. In­dia is hav­ing great po­ten­tial in re­tail which was fo­cused en­tirely on metro cities. Now the tier II and tier III cities are go­ing to emerge as lu­cra­tive mar­kets with brands rac­ing to tap into their po­ten­tial. Some brands are al­ready reap­ing the early bird ben­e­fits due to their pres­ence in high street mar­ket of these cities. This will en­able the trans­for­ma­tion of In­dia as a ma­jor re­tail desti­na­tion.

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