Due to westernization and globalization, the concept of shopping malls is now widely accepted and appreciated amongst people. Shopping malls are big shops where individuals can buy everything under one roof – from clothing to shoes; from home utilities to office accessories; and food, gaming zone and cinema halls for entertainment.
All the major cities have these shopping malls. Families and individuals prefer malls over small shops as it is a one-stop destination for their needs. Further, exciting deals and offers on items make consumers too challenging to resist. Not only does it give consumers many options to choose from, but it also makes the shopping experience a lot more fun than before.
However, it has had a substantial impact on the small scale shop owners as everyone prefers going to malls for shopping. For example, a small grocery shop at the corner of the street might not have all international brands of sauces and chocolates to pick from. Thus, those shops are used for daily errands. People are more aware of the brands and thus avoid buying brand-free items. Such mentality has made it difficult for the new startups to penetrate the market as they generally have low capital to advertise and develop a brand image.
In conclusion, small shops have lost value and thus consumers of the past few years. However, understanding the competitive markets and the needs of the localities’– they should have products to suit their demands so that people choose their shops reliably.