The 'R' word, 'Recession' is a predicament behind every country's economy, threatening both businesses and customers alike. Economic slump has brought numerous big organizations to their knees; overnight, forcing many of them to shut down their operations.
Investors are less found or even non-existent. Many people have lost their jobs due to recession bites. Hence, they are curtailing their expenses to survive the crisis.
Malls are adversely affected due to a shift in the spending pattern of the consumers. Analysts predict that this down turn may plummet their profits to a greater extent comparatively other others.
This is because, consumers avoid certain shopping places just to overcome their temptation of buying, and malls top that list. With shoppers cutting back, mall owners fear that customers once lost seldom comes back.
Mall operators are likely to experience a two fold problem of retailers and the customers moving away. Still they positively assert that every recession is succeeded by a resurging boom, and are adopting innovative strategies to charm the shoppers.
Dance workshops, gifts, contests with luring prizes, and many more offers are announced by the mall owners for attracting elusive customers. Malls would always exist in this planet, and it lies in the tactics of the owners to have their slice of the pie.
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Fibre2fashion News Desk - India
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