Word: chikankari
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...Middle-class Indians are still hesitant about spending in malls because they think prices are higher here," adds Sanjay Singh, owner of Chikankari, a garment store in Noida's Centrestage Mall. Singh acknowledges that he has to pay more for rent and electricity than if his store were outside a mall?but like most retailers, he denies that he bumps up his prices to cover this added cost. Still, many Indians are convinced that mall-based stores charge more, so they tend to keep their wallets closed. According to KSA Technopak, the "conversion rate"?the percentage of visitors who turn...
...even retailers who are doing well worry about the plethora of new malls set to open soon. Chikankari's Singh, who says he's satisfied with sales in his shop, is nevertheless concerned about a giant new mall due to open in a couple of years in Noida. "There will be a huge diversion of people into other malls," he frets. Indeed, a cloud hangs over the future of Gurgaon, with up to 20 malls scheduled to open in the next couple of years. New malls will soon be built in the upper-class Delhi neighborhood of Vasant Kunj...
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