Posted in Marketing and Strategy Terms, Total Reads: 441
Definition: Shopping Centre
A shopping centre is a group of retail shops, restaurants or other businesses which have a common interest of making sales. It is also referred to as a shopping mall, shopping precinct or a shopping arcade.
A shopping centre is normally set up in a commercial location and usually offers facilities like parking. The size of a the shopping area in a shopping centre is anything more than about 8 lakh square feet. Shopping centres have gained popularity in the recent times because of the changing lifestyles. It is easier for people to shop in a shopping centre than to hop between large numbers of individual shops. This is because of the wide variety available in shopping centres and also it is easy for a customer to compare and purchase whatever they want. One more advantage of a shopping centre is the different types of shops available.
For example, there are various shops which sell apparel, footwear, supermarkets or hypermarkets, shops selling home décor, food courts, etc. Some malls also have beauty salons, cosmetic shops, etc. This way it is easy for a customer to get all the things that he/she needs at one place. They can save their travel time and cost of travelling also. The modern look of shopping centres or shopping malls also adds to the factors leading to more footfalls.
Examples of shopping malls in India are Inorbit in Hyderabad, UB City in Bangalore, and Phoenix Market City in Mumbai etc.