A new avenue for mall management services has opened up with global brands interested in the Indian market after the clearing of FDI in retail. Increasing competition from existing customers and demand from global players for malls in line with international standards has mall developers engaging mall management services.
According to a recent report by CBRE, as many as 13 international brands have entered New Delhi market since last year. Mall management has evolved from providing mere facility services to speciality services that is used to attract international retailers. Mall management has become vital part of business, as malls have ceased to be just a shopping destination and are growing as hangout places. This change will see the mall developers forced to create an atmosphere that will not only be a place to buy things but also a hangout destination. Mall management includes positioning, zoning, tenet mix, facility and finance management, promotions and marketing.