Shopping malls

The latest trend in the corporate universe is the emergence of the shopping malls. Shopping
malls are an emerging trend in the global arena. The first thing that comes in our mind
about the shopping malls is that it is a big enclosed building housing a variety of shops or
products. According to historical evidences shopping malls came into existence in the
Middle Ages, though it was not called so. The concept of departmental stores came up in the
19th century with the Industrial Revolution. Consumers wanted a better shopping
experience and this demand gave rise to the emergence of shopping malls in Sri Lanka.

Originally the first shopping malls are opened in Paris. Then the trend followed in the other
metros over the world, and there is a spree of shopping malls coming up at various places.
In this age of mass production and mass consumption, the concepts of shopping malls are
most modern method of attracting consumers. The concept of shopping is altered
completely with the emergence of these shopping malls.

Shopping was no longer limited to a mere buying activity - it has become synonymous with
splurging time and money. People simply go about roaming through the shopping mall in
order to peep through the window of the shop and often ending up buying something they
like. The consumers desire a combination of comfort and suitability which the shopping
malls cater to, and so this format of shopping has become so popular all over the world. The
inclusion of amenities like restaurants, multiplexes, and car parks attract more and more
crowds to shopping malls that are considered family hangout zones.

Advantages of shopping malls:

 Increase in the growth of the organized retail sector

 Monumental increment in economic growth
 Employment generation by the organized retail sector
 Good competition means better products and services
Disadvantages of shopping malls:
1. The companies with superior resources would muscle out the ones inferior to them.
2. Monopolization of the organized retail sector

Types of Shopping Malls

In general, you will find only regional centers, superregional centers, and fashion/specialty
centers on this Web site. Relatively few community centers were chosen, but appear here
because the center may have, at one time, been considered a regional center. Only a few
theme/festival centers were listed in heavily urbanized areas, such as San Francisco, because of
their particular attractiveness or size. Finally, the new designation, lifestyle center, displays
because of their classic-mall type appearance even though they are without a classic-mall anchor
store.

Fashion/Specialty Centers

Characterized as higher end, fashion oriented centers between 80,000 and 250,000 sq. ft.

Community Centers

Characterized as having between 100,000 and 350,000 sq. ft. Usually two types of anchors,
such as a discount department store or large specialty/discount apparel store.

Lifestyle Centers

A new designation that has a loose definition. Generally, it's a center that does not have an
anchor tenant in the classic sense (that is, a department store). However, lifestyle centers
increasingly have a cinema as a major tenant. Others have just a small collection of exclusive
shops.

Outlet Centers

Characterized as manufacturers' outlet centers between 50,000 and 400,000 sq. ft.

Regional Centers

Characterized as having between 400,000 and 800,000 sq. ft. Usually two or more anchors,
such as a conventional department store, junior department store, mass merchant, discount
department store, or fashion apparel store.

Superregional Centers
Characterized as having over 800000 ft2. Usually three or more anchors, such as a
conventional department store, junior department store, mass merchant, or fashion apparel
store.

Theme/Festival Centers

Characterized as tourist-oriented, retail and service centers between 80,000 and 250,000 sq. ft.

COMPONENTS OF SHOPPING MALL

Food court

A shopping mall food court consists of food vendors offering a selection of food. At a typical
food court, food is ordered at one of the vendors and then consumed at a seating area, which is
normally a plaza surrounded by the counters of the multiple food vendors.

Department stores

A department store is a retail establishment which specializes in selling a wide range of

products without a single predominant merchandise line. Department stores usually sell
products including apparel, furniture, appliances, electronics, and additionally select other
lines of products such as paint, hardware, toiletries, cosmetics, photographic equipment,
jewelry, toys, and sporting goods. Certain department stores are further classified as discount
department stores. Discount department stores commonly have central customer checkout areas,
generally in the front area of the store. Department stores are usually part of a retail chain of
many stores situated around a country or several countries.