Tuesday, April 08, 2008

Indian council for Market Research

In the recent hallmark pan-India study conducted jointly by 4Ps B&M and the Indian Council for Market Research (ICMR) across the metropolitan cities, close to 2000 people were asked questions related to their affinity for the mall culture and also about their shopping habits. The findings were shocking! When quizzed about their favourite shopping destination, a meager 18% people named malls, while a significant 40% respondents liked to visit only individual showrooms to make purchases. The survey also highlighted the fact that about 43% people visit malls for only watching movies and eating food. Nilotpal Chakravarti, Retail Analyst, Springboard Research berated to 4Ps B&M, “Malls are a leisure activity over weekends, and many middle-class Indians are still hesitant about spending in malls because they think prices are higher here. The percentage of visitors who turn into shoppers is as low as 15% in Indian malls.” With 65% of India’s population being less than 35 years, it’s clear that the youthful crowds are trooping in, but cash registers still aren’t ringing. An analyst on the panel of Pantaloon shared worryingly with 4Ps B&M, “Yes, there are high footfalls in malls; but actual shopping does not take place. Malls are not cheap and they actually provide more expensive stuff...”

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2008


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