Kolkata: Sales in shopping malls of Kolkata are on the rise due to increasing footfalls in the establishments since the relaxation of lockdown norms. Also Read – Fact Check: Is Govt Planning to Impose Lockdown Again From June 18? Here’s The Truth
Authorities of the establishments said more people are buying goods and services as against total footfalls in the shopping centres, causing the conversion rate to shoot up considerably when compared to pre-COVID times. Also Read – Delhi Markets to Close Again? Traders’ Body to Take Final Call Tomorrow
The shopping malls had suffered zero revenue during the complete lockdown period but despite that, they had to incur maintenance expenses and repay loans. Also Read – Lockdown Extension After June 15? List of States That Rule Out Complete Shutdown
However, the phenomenon of ‘revenge shopping’ frantic buying of goods and services by consumers who missed it during lockdown witnessed recently in China, is yet to be seen in the shopping malls of Kolkata for the luxury brands.
“Conversion rate has shot up drastically. Almost every visitor has bought something. This was not the case before the lockdown. The conversion rate was much lower then,” Acropolis Mall head K Vijayan told PTI.
Footfall in the shopping mall increased considerably on June 13 when compared to June 8, the day it was reopened. Sales are improving and more than 90 per of the stores are open, he said.
Authorities of the Quest Mall have also claimed that more than 90 per cent of the stores in the establishment are open.
“Footfall in our mall has nearly doubled when compared to the day when it was reopened. Sales are also on the rise.
However, till the multiplexes are reopened, alcoholic beverages served and restaurant timings extended, the number of visitors is not expected to rise considerably from this level,” Quest Mall vice president (operations), Sanjeev Mehra said.
Authorities of the South City Mall have also claimed that most of the stores in the establishment are open and that footfall increased to 10,000 on Saturday.
Both City Centre I and II have witnessed high turnouts and spending trends. On the first day of reopening of the establishments, only around 40-60 per cent of the stores were opened in these two malls.
Opening of stores and shops has also been influenced by the level of handholding by the mall authorities.
While the Acropolis Mall has offered a complete waiver of rents during the lockdown period, others have offered a 50 per cent discount on rents.
Half of the estimated 650 large shopping centres in the country have opened and retailers are demanding more relaxation in rents to lift their shutters. Similar negotiations are also in the process in several shopping malls in the city, sources said.
