In today’s world there are people who have different kind of liking towards everything be it nature, food, lifestyle, etc but when we think as a business person who don’t only want to make profit but reach at the top. In the developing countries street shopping has been in current trend the reason being its low cost be it food or any other thing. Malls are currently getting in trend in this developing countries but in developed countries like UK, USA and other foreign countries they have already replaced street markets (almost 90%), but the question that arise is which is better as from a customer point of view we all want good quality in low price or may be the maximum discount with warranty on the product.
The traditional marketplace has been intercepted by the shopping malls which in turn shifting or rather transforming the choices of the people. In recent years there has been a drastic change in the lifestyle of the people and many of them are making a visit at least twice or thrice a month and due to availability of number of product for the same purpose and different prices more and more people are heading towards malls than street markets. The retailer has to choose ways in which there will be a flow of customers and maximize the profit thereby increasing the sales and revenue of the shop. Malls are built with only a single goal of providing optimal conditions for both retailers and consumers. For retailer it provides various trading offers and for consumers this a place where they can come with their families and spend some good time by shopping, rides for children, eating at a restaurant or watching a movie that’s what a mall offers.
While going to a mall a good interior or various other factors such as multiple things in showcase which can attract the buyers in your store or a discount price also a good anchor who can handle or keeping the requirements in mind and helping them to choose what they exactly want can boost the sales of the store but when it comes to street market people usually go home from either their offices or from colleges and don’t feel like taking any kind of interest in it. During a rainy day the customer visiting the street market falls rapidly and thus affects their sales to a great extent. There are also various problem which while going for a street shopping the customer finds such as finding a place for parking, huge rush, anxiety due to the climatic condition and road traffic which leads to pollution and other problems.
All this problems eventually force customers to visit malls and they are willing to pay a little more for not getting tired and keeping their mind at peace as they provide good security, cleanliness of the surrounding along with spacious and healthy environment with air-conditioned facility. But malls are not completely heaven for the retailers as there are shops which are providing similar kind of products with variable price difference which are taking away the customers also the lease that takes place is not very flexible in terms of duration and taxes.
When we start comparing them there are almost equal advantages and disadvantages at the same time and based on the needs you can opt which one will suit you.