Word: ksa
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...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 into shoppers?is as low as 10-15% in Indian malls. Some retailers wish they had made that discovery sooner. "It's not been worth my investment to come here," laments Varadharajan...
...kiosks, and everyone appears to be having a great time. Eager to cash in, India's real estate developers are in a frenzy: up to 600 malls are likely to be up and running in India by the end of 2009?up from 20 malls this year?according to KSA Technopak, a New Delhi-based consulting firm. The capital is the epicenter of the boom, with as many as 100 malls?some estimates put the number at 150?planned for New Delhi and its vicinity in the next three years. There's only one hitch: many of these malls will...
...will move into malls within a few years. More Indians are starting to buy at malls, he notes, as retailers get better at pitching goods. "We're learning the science of retailing," he says. Yet even he concedes that "the larger malls will be the only ones that survive." KSA Technopak's Singhal is also bullish about the future of malls but adds, "It's very likely that quite a few of the new malls will see occupancy rates of only 50%." Far from being tangible evidence of India's new economic vigor, the numerous half-empty malls that look...
...Attitudes toward money are also changing. The mantra for the average Indian family, as in most of Asia, has always been save, save, save, but young Indians today, inspired by job opportunities, have switched to spend, spend, spend. According to KSA Technopak, Indians spent 55% more money eating out in 2002 than the year before. They're also more willing to take on debt. In the past two years, the number of new credit cards issued has jumped 25% annually, and new mortgages...
...industry group in New Delhi, expects that 1 million people will be working in call centers and other "back office" operations in India by 2008, up from 160,000 in March. "There will be significant opportunities for people to look for higher incomes," says Hemendra Mathur, a manager at KSA Technopak. For all those millions of potential Saurabh Kedias, the news could hardly be better...