PAGE Blog Business Weekly Magazine
The increasing numbers of shopping malls thriving all over large cities in Pakistan are creating opportunities not only for large retailers, but also the smaller ones previously involved in doing business in traditional, less profitable ways. Shoppers who previously visited often open markets now go to malls for a one-stop shopping experience.
Karachi and Lahore, have a large number of malls that cater to all clothing needs under one roof, making it easy for customers to find all they require in one place. People previously went to dislocated shopping centers and famous open markets for their clothing needs, such shopping districts rarely housed branded goods, and offered limited choices for customers as far as quality was concerned.
The few big names in the clothing industry were considered too luxurious for the common customer. The shopping mall has changed all that.
New domestic and international brands in the market over the past few years has created a need for excellent shopping malls where they can all be housed together. Around 150 high end brands sell their goods in different cities in Pakistan, out of which 30 percent do not have formal outlets of their own and rely on such malls for sales.
People prefer to go to a mall where they can find everything at one place. Pakistan has some wonderful malls where one can find different brands at an average cost.
Islamabad, Lahore and Karachi have well-defined malls to match their personalities.
Centaurus mall – Islamabad
In the capital city, there stands a mall in the middle of Islamabad. One can see the tall buildings of Centaurus Mall from far away, all lit up at night. The mall has a food court with the yummiest fast foods. There is also a fun city for the children to enjoy during the trip to the mall.
The shopping mall is combination of stunning architecture, 400,000 square feet covered area, leisure and four-storey basement offering parking facility for 1600 cars. It besides other lifts, consists of four panoramic lifts and 15 escalators.
Safa Gold mall – Islamabad
Another shining mall to visit in Islamabad, which offers a great selection of brands. The brand conscious people and shoppers cannot resist stepping inside if they pass by.
Mall of Lahore
The Mall of Lahore is located in Bahria Town of Lahore. One can shop, dine and entertain at the Mall of Lahore. It is a place one can find himself in the city.
Dolmen mall, Clifton – Karachi
Karachi being the largest commercial city in Pakistan has some amazing and mesmerizing malls. Dolmen Mall is one of them, and it is a place where you should go if you are in Karachi or plan to visit there. It is beautiful inside, with the benefit of being near the seaside of Karachi in Clifton.
Dolmen mall ,Tariq road – Karachi
Another Dolmen Mall in Karachi is at Tariq Road. Dolmen Malls vary, according to the areas of Karachi.
Dolmen mall, Hyderi –North Nazimabad Karachi
Another Dolmen Mall in Karachi at North Nazimabad.
The park towers – Karachi
The Park Towers is located in Clifton, Karachi. It is considered the first choice for the people of Karachi to shop. All the popular brands are found in Park Towers. It is a shopping paradise for the shopaholics.
The Ocean mall – Karachi
If you think of watching a movie at the mall then, ocean mall has it all: the shopping you need, and the Cinepax where you can relax and watch the latest movies.
Emerald towers – Karachi
The feel of finding everything under one roof is satisfying for the people who love to shop, so stopping by the Emerald Towers would be a good idea.
Millenium mall – Karachi
Located in Gulshan-e-Iqbal. For those who prefer the designer apparel and enjoy the elegance of designer jewellery, Millennium Mall would be the best fit.
Lahore soon to have largest shopping mall
There are quite a few shopping malls in Karachi, and a few very large malls are in the offing in the city with a population of around 20 million. Two of them are mega malls, one being built by a real estate tycoon and the other by Yunous Brothers, one of the largest business group of the country.
Lahore with half the population of Karachi lacks any real branded shopping mall like Dolmen in Karachi and Centauries in Islamabad. The Mall of Lahore is a mini version, but the city is launching shopping malls of global standards in 2016. The Nishat Emporium owned by Mian Mansha and family would open in June this year. It is by far the largest shopping complex in the country with an attached hyper store and 140 room five star hotels. There is a food court for 2,000 people, play land, cineplex and banquet hall for 4,000 diners.
This shopping mall would be followed by an even fascinating shopping complex by the end of this year. Owned by the Packages Limited, it would perhaps be the largest shopping complex as far as area is concerned. Only famous foreign brands would be showcased in the first phase.
The entertainment industry in Pakistan is playing a vital role in generating tastes, the city’s residents have been looking for new things to expand their increased purchasing power on.
Economic stability and the billions of dollars’ worth informal economy have encouraged global retail chains to visit Pakistan and assess the local potential.
The economic turnaround in the last three years has encouraged famous foreign brands to come to Pakistan. The GDP growth rate of 4.5 percent and total GDP of $250 billion does not look so lucrative to attract foreign and Pakistani brands to branded shopping malls.
The retailers are examining an economy of $600 billion or more. Most analysts agree that the majority of the middle class comes from the informal sector.
All professionals like doctors, engineers, beauticians, textile designers and others have much higher undocumented income than their officially declared earnings.
Traders that account 16 percent of the GDP contribute only four percent in tax revenue. The entire service sector, barring telecom does not contribute much in the national revenues.
Better economy and the good hopes created by China-Pakistan Economic Corridor, all local and foreign brands are making brand themselves for good times. Retail is the process of selling consumer goods and services to customers through a number of channels of distribution to earn a profit. Demand is created through different target markets and advancement strategy, satisfying consumers’ wants and needs through a lean supply chain.
Brand owners realize that consumer power is on the rise and they would have to keep them engaged through novel designing and marketing. They are devising tactics that are in line with the local culture.
They want to establish their outlets in the futuristic malls. These malls are not meant for shopping. These are places where numbers of branded food outlets are available; where there are leisure facilities for the entire family. Where children could play and elders have the option to go to any of the six or seven cinemas at the mall.
The rich consumers would be insufficient to shop in malls where the parking facilities are insufficient. All well- established shopping malls established in Pakistan that lack few of these facilities are losing customers to the new malls with better facilities.
These shopping malls through large number of facilities give consumers the reason to visit them and successfully hinder the online shopping trends.
