Shopping Mall - Definition & Meaning
What is Shopping Mall?
A Shopping Mall can be defined as agglomeration or group of different stores offering various brands, products or services at one place. A mall has many shops and companies can lease/buy these shops for setting up their own stores. These days malls are present in almost every major city in the world and have products / services like clothing, restaurants, forex services, groceries, movie theatres etc.
It becomes a win-win situation for both companies and visitors, as people looking to shop have all the options under one roof and similarly, companies also have a wide range of audience they can target their products to.
Opportunity for the marketers
Because of such a large no. of footfall at one place mall present an opportunity for the marketer to reach people at one time. Marketer try to bid for different location as well as shelf space. If we take the example of big bazar the shelf which are at eye level demand more bid compared to its counterpart.
Present Trends
With the advent of e-commerce websites such as Flipkart, Amazon the relative importance of mall has decreased. However, the Indian ecosystem is still adapted to buying the product after seeing it. So we may see the coexistence of both e commerce website and brick and mortar industry.
Hence, this concludes the definition of Shopping Mall along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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