Comments on: Gurgaon Shopping Malls http://www.vikasrikhye.com/2009/02/23/gurgaon-shopping-malls/ Realtor,Real Estate Blogger and Real Estate Promoter Mon, 06 Sep 2010 10:14:08 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Rajiv http://www.vikasrikhye.com/2009/02/23/gurgaon-shopping-malls/comment-page-1/#comment-3648 Rajiv Mon, 23 Feb 2009 10:04:11 +0000 http://www.vikasrikhye.com/?p=139#comment-3648 Grandma said “Beta Duniya Gol Hai – Jo Doge wo Milega”. Mall builders and retailers are getting back what they gave to the market and the society. The most excellent example of this is the collapse of Subhiksha – The Retail Dark Horse. Customer demography in India is different from any other developed country. On an average every citizen of US carries 2 Credit Card and does not mind living on the credit money for his life, where as an Indian customer will first try to settle the previous balance before entering the rat trap. This mindset is very sensitive to the market sentiments and the reason of Indian middle class calling it a day with the mall mania at-lease for the time to come. The Indian customer was taken for a ride by the developers of these mall and the retailers equally. The cry of credit crunch is just an eye wash for a developer who had made upto 500% profit in the good days. The retailers in these malls are no different and this is the time for the customer to pay back. It will not be long when once the mall maniac public now flooding the markets of LajpatNagar and Sarojni Nagar. In my opinion this is a good learning time for all the three players of the value chain and all these babies will get back to there Grandma for a peace of wisdom. Grandma said “Beta Duniya Gol Hai – Jo Doge wo Milega”. Mall builders and retailers are getting back what they gave to the market and the society. The most excellent example of this is the collapse of Subhiksha – The Retail Dark Horse. Customer demography in India is different from any other developed country. On an average every citizen of US carries 2 Credit Card and does not mind living on the credit money for his life, where as an Indian customer will first try to settle the previous balance before entering the rat trap. This mindset is very sensitive to the market sentiments and the reason of Indian middle class calling it a day with the mall mania at-lease for the time to come.

The Indian customer was taken for a ride by the developers of these mall and the retailers equally. The cry of credit crunch is just an eye wash for a developer who had made upto 500% profit in the good days. The retailers in these malls are no different and this is the time for the customer to pay back. It will not be long when once the mall maniac public now flooding the markets of LajpatNagar and Sarojni Nagar.

In my opinion this is a good learning time for all the three players of the value chain and all these babies will get back to there Grandma for a peace of wisdom.

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