Over the recent years, numerous developers have initiated several commercial ventures simultaneously within Gurgaon’s vicinity.
This sparks a common query among potential buyers: will these markets thrive or falter?
Traditionally, each locale only boasted a solitary marketplace, like Sadar Bazaar, as the primary shopping hub.
Nevertheless, contemporary advancements have ushered in changes, with an emphasis on quality and standards.
Here are some key factors ensuring the prosperity of these markets:
▪︎Official endorsement and allocation of these plots for commercial endeavors in specific localities as per urban planning and populace density.
▪︎Rivalry among renowned brands with diverse offerings heightens the success prospects for all these shopping complexes. A lone mall in any given area can only accommodate a limited array of brands and products, resulting in reduced foot traffic. However, with multiple malls in close proximity, numerous brands can be featured, presenting a broad spectrum of products and attracting larger crowds, thus bolstering footfall and ensuring the malls’ viability.
For instance:
Competitors in the food industry: Haldiram’s, Bikanerwala, Om Sweets, among others.
Competitors in the fashion sector: Lifestyle, Shoppers Stop, Pantaloons, etc.
Competitors in the telecom sector: Airtel, Jio, Vodafone; Apple, Samsung, Mi.
Competitors in the hypermarket segment: Big Bazaar, Spencer’s, More.
Competitors in the multiplex domain: PVR, INOX, Carnival.
This competition spans across all product categories, alleviating concerns. All malls stand a chance of success if they can entice a diverse array of brands to their premises.
The era of singular markets and exclusive brand dominance is long gone. Nowadays, consumers have myriad options for every product.
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