Economic slowdown--is it affecting the malls?
By kalav56
@kalav56 (11464)
India
May 25, 2009 1:04am CST
What prompted this question was --- I went to a mall yesterday. The products on display were considerably lower and most importantly, the Air conditioner had been switched off. [This was in ‘Big Bazaar’]You can imagine what an experience it would have been in the month of May. I have never seen this happen earlier. What do you think would be the reason?
4 people like this
11 responses
@BishounenNerd (373)
• United States
25 May 09
It's definitely the recession. I once visited the Charlestowne Mall, and most of the shops had bars over the doorways. Nearly everything was closed, save for the major stores that were at the tips of the mall. It's because people are losing jobs, so they can't spend any money to buy music, clothing, electronics, or any other services for that matter. And as long as unemployment increases, the effect is just going to keep rising and rising. It's like a set of dominoes lined up nicely in a row. You tip one of them over, and the rest fall with them. That's how the economy is right now, people are losing jobs, and so they can't afford things, which causes other people to lose jobs and not be able to afford things... It's a vicious cycle. An infinite loop. And it will get worse before it gets better.
1 person likes this
@BishounenNerd (373)
• United States
25 May 09
Well, on a positive note, there's probably a loophole somewhere that could fix the problem. We just need to think it over a little bit and do some research, and perhaps it will come to us... So we should probably ask ourselves:
1) What's the problem?
I (And probably a lot of people.) would argue that the problem is that nobody can afford anything because they don't have a job.
2) What's the cause of the problem?
This is where I think it gets tricky. I've heard some say that the upper class get tax cuts, and if it's true, what are they doing getting tax cuts? Why are they getting tax cuts? Is it because they're rich? If that IS the case, then that means they aren't paying their dues.
3) How do we solve the problem?
Given the criteria of the last problem, I think the best solution would be to get a huge petition going, directed at the President of the United States, to write into law that the upper class should be taxed just as much as the middle and lower classes. The amount of money that would be recirculated into society would probably be enough to get the economy back on it's feet.
Of course, I'm not saying that this is the ONLY problem, or that that really IS what's happening in Washington. It could also have to do with the fact that people don't buy American anymore, since many foreign products seem to have better standards than ours do. (For example, my mother's 1992 Toyota Camry is being used by my sister now! And we know those are manufactured in Japan.)Like I said, we do our research, think of a plan, and see it through!
1 person likes this
From where I am, I don't think the malls are affected. People still flood the malls. Restaurants are always full. I see people still shopping as if there isn't any economic crisis. 
@kalav56 (11464)
• India
25 May 09
Oh Mayka now, which Big Bazaar was this?-the one in Lower PAREL?If you are somewhere close to Milan Mall tell me --one day we can fix it up and meet in Big bazaar Milan Subway, during winter or when the weather is pleasant this year sometime.Won' t it be great?I normally never go out anywhere , and nowadays I seem to have increased problems with my feet--so we shall keep this plan pending for a day suitable to both of us and if you are okay with it.
@mayka123 (17083)
• India
14 Sep 09
Sorry for the delay in replying. I was not able to reply to this at that time so had kept the notification in my inbox which I saw today. The Milan Big Bazaar is closer to where my daughter stays. So anytime I plan to visit there I will surely let u know.
@Roseo8 (2947)
• India
26 May 09
Hello Kala.....yes economic recession is taking its toll here in Kerala too......I too have noticed that the shops are less crowded,and even special offers displayed at many places are not attracting any crowds these days....It looks like people are only buying what is essential and are not keen to go on a buying spree any more,which was the norm a few months before.Any way I think its a good sign and the youngsters will take a lesson from this economic recession and learn to save for a rainy day instead of going on a spending spree as soon as they get their salary....
And the family restaurants which are always over flowing especially on week ends appear deserted and lacking their usual thick crowds.....
@kalav56 (11464)
• India
28 May 09
I don't see this in restaurants too much [at least the one thta I happen to come across near the veg shops locally] because this is Mumbai and this is a very small restaurant [not a very stylish one], but malls are definitely proof of this fact. HOw are you Rose?
And I am doing fine dear..........Infact very much alive and kicking......
@kelpie (190)
• United States
27 May 09
Well, it is expensive to keep a shop in the mall. I have seen a lot of desperate people at their kiosks try to sell a product to someone the product isn't even for. Times are hard, and people are desperate. So indeed, all the sales that are occuring, all the desperate people trying to make a sale - I have seen a continouse increase in this since 2007 - is an indication of a terrible economy.
1 person likes this
@comfort55 (1574)
• India
25 May 09
Economic slowdown is undoubtedly effecting many big organisations. As far as I remember, I heard that Big bazaar is running into losses, same with Vishal Mega Mart, one is near my house. It is also running in huge loss, Subhiksha is already closed down. Actually, we are shifting to new house, and I wanted to buy some furniture. Everywhere, owners of big showrooms are desperate to sell their stuff. They take the phone nos. and keep on following up, reminding everyday. Hopefully, it will start going up shortly, if the predictions are true.
@tulipstrader (1467)
• India
25 May 09
During boom time people had enough money to spend on all that they wanted. There was enough liquidity available. With job losses increasing day by day, nobody wants to spend anything more than what is needed. Malls flourished on this spendthrift crowd. Now these section is out of job or on lower wages, spending habits changed. this led to lower consumption of goods and services. Malls will stay, but only those which have the ability to go through this situation which might last another year or so.
every situation now is new to most as we never had faced this kind of thing before. slowly we get used to these. but no situation will stay put for long. everything will change, so is this temporary phase.
@kiran8 (15348)
• Mangalore, India
27 May 09
Hi kala, I tend to agree that Economic slowdown is affecting the malls and all business. Here in Bangalore one can see that malls are not packed and overflowing like they used be before. I also see too many 'Sale' and 'Price Cut' banners in front of shops.I think they have no customers like before and even those with steady jobs are not spending not being sure about the future..
@gcorp09 (940)
• Singapore
26 May 09
Well, I will say that I do still see a lot of people shopping in the malls. However, it seems that more people are window-shopping rather than carrying a lot of shopping bags.
However, I can say that there are places where I don't think they are much affected. That is the food industries. I could still see queues at restaurants during meal times, and also the queues at supermarkets here are still as long as before.
As for switching off of air-con, I will say that I did not experience this here in the malls...
