Retail, Wholesale Chains Find Bangalore Attractive
Published on April 04, 2013, 07:00 AM IST
Jonathan Yach, CEO of Mantri Square, says they are in the process of opening another mall at Kanakapura Road in the next two years. “The new mall should be about 1 million sqft in area. Our Malleswaram mall sees consumers coming from various locations including Yelahanka and Bannerghatta Road. Shopping in organised outlets is quite popular here.”
Not just retail, even wholesale chains are eyeing the opportunity to cater to a growing number of kirana shops, restaurants, offices and hotels. Reliance Market has opened a 53,000 sqft wholesale outlet for vendors, traders, kirana shop owners, restaurants to buy in bulk. Randy Guttery, CEO, Reliance Market, says Bangalore has accepted modern trade most amongst big cities in India.
“For consumers this city offers many shopping alternatives. The kirana stores here are getting more sophisticated requiring greater number and variety of products. So are the restaurants and hotels, all of whom need to source in bulk at wholesale rates and this in turn provides us with opportunity,” says Guttery, adding that some 85,000 customers have already signed up with them to purchase in bulk.
Experts say Bangalore holds more promise for organised chains since people here, specially those working in MNCs and IT firms prefer the modern shopping experience.
“On weekdays, the average number of people visiting any mall here would be 40,000-50,000 per day, while on weekends that number could rise to over 70,000-80,000. And shopaholics tend to re-visit the mall at least twice a week, spending an average 3 hours per visit,” says a retail analyst.
The analyst adds that malls are expanding their services by adding within their premises a travel agent, pharmacy, tailor, and even BangaloreOne centres. “The idea is to offer much more than the competitor to lure more customers,” he says.
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