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Decide Between A Shop In A Mall Or On A High Street
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There are brands having exclusive showrooms on high streets. However, the malls do have something to offer which the shops on high streets cannot.
From time immemorial, retail business has had its presence in different forms across the country such as bazaars, mandis etc. In other countries, there are shopping areas that offer the best brands and products. Yet, malls have quite a different structure where people are able to see several things under one roof. Shopping centres and departmental stores have existed in this country longer than malls and other dedicated commercial centres. For over two decades now, India has had Spencers in Chennai, Ansal Plaza in Delhi and Piramyd in Mumbai to offer anything that people wanted.
The shops on high streets and the malls are doing more or less the same thing which is promoting brands or selling products. However, there are shortcomings in each area.
Advantage High Street:
A brand or item on a high street is more likely to be noticed than if it is in a mall. If you have a specific item to be bought, it becomes a strenuous process if you have to procure that from a mall. Whereas, the same item can be purchased from a high street in no time, if you know the shop that has it. So a brand that has its presence in a shop on a high street will attract customers easily and even the passersby and make them recall the location very easily.
• Malls usually demand payments for common area maintenance, round-the-clock security, car parking etc. This differs from place to place. Malls in prime locations undoubtedly demand higher rentals and maintenance. On the other hand, shops on high streets do not have to pay these charges. Moreover, there are no extra charges involved in using air-conditioning, internet etc., in a mall. But, in stand-alone shops the charges are levied with respect to your consumption levels.
• Due to the traffic woes in cities, people find it difficult to visit shops on high streets where parking vehicles seems to be the most horrendous experience. Malls don’t have that problem at all because, as you all know, you have a plenty of space in the basement dedicated for parking.
• Though malls may experience a lot of footfall, the conversion rates are higher on high streets.
• To promote a brand, one needs to show exclusivity. In a mall, people will have choices. In other words, a customer may drop into a mall looking for a particular band and shall get attracted to a different one. The alternative to eliminate this problem is to have the shop on a high street.
• There are some brands that will have their own stores and this model experiences more success only if they are located on high streets.
• The success of any mall depends mainly on the location, the product and the type of customers. In this regard, the developer has to know very clearly how to enhance the appearance of the mall to attract footfall and promote brands.
• Any band’s success is partially dependent on the presence of other comparative brands. To be more specific, an individual brand cannot see that much of success in a mall if the mall is half empty. To create footfall and attract new customers, the shops in a mall ought to be occupied to a large extent.
• Malls are often the target of terrorists these days. To maximize security by installing surveillance equipments would cost much which the shopkeepers have to bear one way or the other. In case of shops on high streets, safety is not as much a concern as it is in malls.
• It is not only for shopping that people visit malls but also for entertaining themselves with other activities like cinema, drama, food etc.
• Malls offer you the convenience of parking which is very difficult on a high street.
• Malls are usually places where people get attracted by the display of products and get tempted easily. This nature of people will undoubtedly make them do impulsive buying which brings business.
• Promoting a brand on a high street is pretty much expensive compared to mall. A mall would normally experience a lot of events all year round and that increases a lot of visibility of the product. More importantly, the cost is shared between shop owners to reduce the financial burden significantly. During festivals, the malls are filled with activities and that in particular becomes an advertisement by itself for the product.
• Most branded supermarkets and departmental stores find it very easy to operate from malls because of high cost. It is easier operating from a mall than from a high street for many other reasons too.
• Malls are relatively cheaper if the size you demand is really big.
• The basic amenities for staff are well in place in a mall like toilet, dining area etc. The staff will feel a bit comfortable which increases output. These facilities are absent in most high street shops.
Now that we have thoroughly discussed the advantages and disadvantages of having shops in malls or high streets, we as businessmen should think twice before going for either. Though shops in malls are very expensive to rent, the visibility of your product is very high. At the same time, there are timings to be followed in case of malls and you cannot visit as and when you wish. Whether it is a mall where you have your shop or on a high street, what matter the most is the location. A very good brand might lose its reputation if present in a location where there is poor visibility. Similarly, opening up a shop on a high street to promote an expensive brand might not yield a great result because of the surrounding locations that people would not want to visit.
Buniyad real estate services is creating a large marketplace for commercial property investment. To offer you best we bring shops in malls for sale in Noida and also if you want buy shop in noida high street, we have good inventory for you. Contact for more details.
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