Page 11 - Mall Management
P. 11
ffic Management:
Traffic movement and position of high footfall area should be well thought about. Too much
concentration on entry and exit points of townships should be avoided. Most town planning
just define zones as commercial and residential, in commercial they should further take into
account the traffic flow limitation. It is very important to cater to this.
Manpower Training: There is lack of trained manpower in this field. The value of cleanliness
and security is not very high in this manpower. This can be addressed only with proper
education and training.
Energy Management: Designing of malls should include Natural Light utilization, Large common
areas to handle movement of free flow of people. Utilization of space created by these malls
very important. Actually if the street shops and random local markets are included in the mall
structure the energy load of the township gets reduced tremendously.
Finance Management: A common practice in developed markets such as the United States and
Europe is the use of the revenue share model in determining rent. Under this arrangement, the
tenant will either pay a fixed monthly base rent as minimum guarantee and/or a ‘percentage of
sales’ rent, whichever is higher. This is beneficial for both landlords and retailers as landlords
are encouraged to organise promotional activities that would increase retailers’ revenues
because they may have a percentage share in it. The model works successfully in bullish and
bearish market conditions. When the market is weak, retailers are protected from rising rental
costs. There is more research required in this field for wider application across malls in India
Transparency in Operations: between retail selling and mall management. Proper systems and
procedures visible to all stakeholders. Good management of fund flow and operations can
reduce the actual cost of running the mall.
5. CONCLUSIONS :
Leading gap in mall management practices across India is due to lack of knowledge, conflict of
interest and lack of trained manpower. First thing to put right is the stakeholder experience
Traffic movement and position of high footfall area should be well thought about. Too much
concentration on entry and exit points of townships should be avoided. Most town planning
just define zones as commercial and residential, in commercial they should further take into
account the traffic flow limitation. It is very important to cater to this.
Manpower Training: There is lack of trained manpower in this field. The value of cleanliness
and security is not very high in this manpower. This can be addressed only with proper
education and training.
Energy Management: Designing of malls should include Natural Light utilization, Large common
areas to handle movement of free flow of people. Utilization of space created by these malls
very important. Actually if the street shops and random local markets are included in the mall
structure the energy load of the township gets reduced tremendously.
Finance Management: A common practice in developed markets such as the United States and
Europe is the use of the revenue share model in determining rent. Under this arrangement, the
tenant will either pay a fixed monthly base rent as minimum guarantee and/or a ‘percentage of
sales’ rent, whichever is higher. This is beneficial for both landlords and retailers as landlords
are encouraged to organise promotional activities that would increase retailers’ revenues
because they may have a percentage share in it. The model works successfully in bullish and
bearish market conditions. When the market is weak, retailers are protected from rising rental
costs. There is more research required in this field for wider application across malls in India
Transparency in Operations: between retail selling and mall management. Proper systems and
procedures visible to all stakeholders. Good management of fund flow and operations can
reduce the actual cost of running the mall.
5. CONCLUSIONS :
Leading gap in mall management practices across India is due to lack of knowledge, conflict of
interest and lack of trained manpower. First thing to put right is the stakeholder experience
