Girls just wanna shop till they drop. Guys call it the biggest threat to their credit cards, while women feel retail offers the best anti-dote to every depression under the sun. Suddenly that stereotype is spawning a brand new business model.
In a bid to generate female footfalls, retail players are coming up with concept malls which would be exclusively catering to women shoppers. The next 2-3 years would see about a dozen malls coming up which would target both house wives as well as working women.
The malls will offer not just women-centric goodies but also female staff. While some prominent real estate developers have already announced plans for women-only malls, a host of others are in the pipeline. Suncity developers have already started the first such mall based on this concept and plans to build five or six more on the same format.
“In the era of speciality malls, there are no malls especially catering to women and that's the reason we have started these concept malls,” says LN Goel, chairman, Suncity Projects.
According to sources, Aerens group, owners of Goldsouk and Wedding Souk malls, is also likely to announce similar plans very soon. The group is likely to use its expertise in jewellery retail by building a mall targetted only at women shoppers.
The Omaxe group is also building a specialised mall based on the concept of “wedding & women.” Industry experts feel this model packs in immense growth potential, attributable particularly to the average house-wife's penchant for shopping.
“For anybody in the retail business, women form one of the most important target groups and this is where much of the volume is generated,” says Abhijit Das, head, Ansal Plaza Mall Management Company. Even general lifestyle malls such as Ansal Plaza are learnt to be working on creating special zones for women-related products.