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Briefs
TechMall—a technology mall
In Goregaon in the northern suburbs of Mumbai, TechMall is
all set to offer consumers a one-stop shop for consumer electronics, computers
and peripherals. The concept of TechMall aims at changing the way people shop
for technology products. Although Mumbai has speciality markets for various
technology goods, there is no single-sourcing point for all technology goods.
The project was conceived by Rachana-Astra Constructions, its promoter, and
directors Rajendra Chhapwale, Rahul Chhapwale and Ratan Bhalwankar, who is also
the architect for the project. The mall is scheduled to open by December 2006.
Major computer and consumer electronics OEMs such as Sony and HP are in the
midst of negotiating to lease space within the mall.
Explaining the concept is Rahul Chhapwale, a business graduate from the University
of Rochester, US. “TechMall is what retail in India will eventually evolve
to. While most malls today are Family Entertainment Centres (FEC), there will
be a growing demand for speciality malls in the days to come as they cater to
a specific segment of consumer demand, and consumers will know that they can
get the best selection and price at one location. While FECs tend to have higher
footfalls, speciality malls will boast of significantly higher conversion rates
due to this level of specialisation.”
So will this kind of a mall thrive? “TechMall aims to be popular and profitable
in future as it will provide a comfortable environment for vendors and customers
due to the facilities it will provide,” says Rahul Chhapwale, adding, “Our
long-term plans include rolling out a TechMall in other tech-intensive cities
such as Bangalore, Pune, Hyderabad and Delhi.” An area of 1,30,000 sq ft
is provided to vendors on lease, encouraging an active trading marketplace beneficial
for an estimated customer base of 1.5 lakh per month.
At TechMall, OEMs and wholesale distributors of every kind of technology product—TVs,
videos, cell phones, computers, gaming products, communication products, consumer
electronics, and so on—will be present. Customers will be provided facilities
such as Wi-Fi, intercom and hi-end gaming. The mall also plans to offer a star
category hotel along with banquet halls and conference rooms.
Rahul Chhapwale concludes, “Buying tech products is a separate shopping
trip as they are high-value items.” Can this ‘concept mall’ succeed
(even Acer has a similar concept)? Wait and watch.
—Priya Jain
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