Inflation and price rise have long been the causes of worry among the Indian consumers. Various states and national
Government seems to have gone in deep slumber about this burning issue. In today’s fast emerging concept of professionalized mall
management with best and innovative products under one roof at competitive prices, the consumers are rapidly and more consistently accepting the modern form of shopping. Increase in consumer’s purchasing power has led to expecting more personal attention and care at the malls and inclined more towards malls due to availability of more international brands at competitive prices coupled with prompt as well as replacing the old stock with new one more regularly. Customer’s tastes and preferences have changed with westernization and globalization. The monthly and annual sales turnover figures were quite satisfactory and encouraging as customers are ready to spend more than usual due to availability of different product and services at one place. Quality was the foremost thing that customers want at competitive prices. There were also some bottlenecks like customers were not satisfied with the parking facilities at malls, as they have to park their vehicles in open on roads. Mall owners were not satisfied with profit margin and non-replacement of damages of goods by concerned companies. The customers have also shown their resentment towards their luggage and personal property being taken off at the main entrance of the mall. The company should keep the prices of goods at malls reasonable and competitive, so that low level income groups can also become a regular customer of malls. Advertising is assuming much importance now; companies should maximize their advertising especially in interiors of cities through billboards, posters, newspapers ads and television ads etc. The retailer should provide adequate feed back to the companies. Retailer should store adequate quality products in their malls. With a large number of malls in the pipeline one of the critical factor that will give an edge to one retail center over the others is the way it is managed. Competent mall managers are in short supply and the situation will remain the same for next 2-3 years. Some of the B-Schools are launching specialized courses on retail management including mall management. Over the next few years, professional mall management service will establish its significance in the industry. The country requires higher attention to be given to developing more number of persons with the right skills and knowledge, who can be employed in this function. Corporate know that the Indian
agriculture sector is a potential goldmine that has not been tapped till now and farmers have a lot of reasons to be happy with the corporate entry into agriculture scenario. Rural economy of India will be substantially improved through innovative agriculture and linking them to retail boom in agricultural sector. India is endowed with several advantages for ushering in retail boom in agriculture since it has second largest arable land in the world; diverse agro climatic conditions across the country, round the year sun shine potential to cultivate vast range of agricultural products through vast pool of crops. Currently Indian agriculture is only quantity oriented rather than quality oriented. Markets also do not procure the product by giving price based on quality parameters of the produce. But the retail boom necessitates placement of products with value in terms of its nutritive and neutracutical value, taste, tempting to buy appearance, attractive colours etc. When multinationals or big business houses enter the retail trade the chain of intermediaries between the producers and the consumers are minimized and there will be scope for higher share of profit reaching the farmers who toils in the farm. Hence the farmers stand to gain much due to retail boom by way of enhanced price for their produce and assured market.