Tuesday, April 08, 2008

The 2nd cut is the deepest...

To the credit of statistics, it is also true that organized retailing in India is still at a miserable 2 to 3%; and more than 99% retailers function in less than 500 square feet of shopping space. Then why is it that malls in a majority ‘will’ fail? The reason is not only increasing costs, but as the previously mentioned Wharton study portends, increasing competitive pressures as well. Lee Iacocca, the most respected ex-CEO of Chrysler Corporation, who is credited with single handedly turning around the Detroit major, writes in his world famous autobiography about his dad who always advised him that recession or no recession, the best business to invest in is the restaurant business. We take the liberty to expand this definition. Unless outlets have a focus and a target market (rather than being ‘mass’ oriented), chances of being successful would be slimmer than a dietician’s delight.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2008


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