A Study on Location Strategy and Trade Area Analysis of Top 10 Malls of Western Suburbs of Mumbai

DOI:10.34047/MMR.2020.9104

Abstract

Mumbai is the financial capital of the country and home to important financial institutions and Multinational companies. The City has a rich cosmopolitan culture. it is also the capital of entertainment industry and city of dreams. These are enough reasons for the growth of organized retail and real estate development here. It is the capital of Maharashtra & the commercial capital of India & is one of the most populous cities of the world. It has a per capita income of more than 2 lakh which is over three times the rest of India. It homes a large middle class, upper middle class, and the rich class of the country. Retail sector is one of the booming sectors of the city in last 20 years a lot of Mall have come up and the people of Mumbai are adapting to the mall culture. Mall is usually a large, enclosed area, a mercantile establishment consisting of a carefully landscaped complex of shops representing leading merchandisers; usually includes restaurants and a convenient parking area. The word shopping mall is made up of two words: shopping and mall. Shopping can be defined as the activity that involves the exchange of goods and services for money. According to Kuria (1975). Lousberg (2009) defines shopping malls as “premises selling general merchandise or fashion related goods. They are enclosed inward facing stores, connected by a common walkway. Parking surrounds the outside perimeters.” A shopping mall can therefore be defined as a complex that encompasses several retail stores, restaurants and other businesses with a common interest in soliciting sales. The complex is put up and managed as a single unit. Shopping malls offer private, off-street parking facilities.