Shiva Basnet of Bluebird Department Store and Shopping Center said they had seen number of people visiting the mall gone down in recent days. “The sale has plummeted compared to the figures recorded some two to three weeks ago,” Basnet added. [break]
Though shopping malls have become a rage among Kathmanduites by redefining not just lifestyle and shopping, majority of them are seeing drastic fall in business in recent days. Not only have the number gone down, those who happened to shop in the malls are found just hanging around rather than spending money. “It seems that political instability and uncertainty about the economy has taken its toll. People seem to be saving for future and postponing their expenses,” he added.
Not just political stability and uncertainty about economy, the increasing number of malls also seems to have played part in reducing footfalls to malls. Of at least half a dozen big malls operating in the city, only a few are enjoying a regular stream of customers.
“The numbers of shoppers has not increased as per the number of malls. All malls are looking at the same small pie. This might invite unfavorable business circumstances,” Basnet said.
The Kathmandu Mall -- one of the popular shopping destinations for middle class people - has also undergone slackness in business. The mall with a total of 400 shops has experienced decrease in the number of consumers and business in recent days.
“Our business is not so encouraging and the number of buyers is falling day by day,” said Keshab Prasad Sapkota, manager at The Kathmandu Mall. Of around 10,000 visitors that visit The Kathmandu Mall, only about 20 percent come with business purpose, he added. Sapkota further informed that feeling of insecurity and uncertainty about economy is deterring consumers from making fresh purchase.
However, Rajendra Aryal, who looks after the management of NLIC City Center, said it is too early to say whether or not the business has fallen as they threw open their doors open less than a year ago. “But since we have exclusive stores of some renowned brands, I have seen the business increasing,” he added.
Sapkota of The Kathmandu Mall said they were preparing to ask tenants that are unable to pay rent on time due to slowdown in business to move out. “We are preparing to hold meetings with our tenants to create a business doing environment by offering discounts and other incentives,” Sapkota added.
Alarmed by decline in footfalls and business, malls around the town are planning to come up with attractive discount offers to attract more people.
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