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New Pattern ~ English Language & Literature 10th (Term 1), , , , Passage 6, try, you would think the, , ou went only by the number of shopping malls in the co, 4 broek-and-mortar retail space in India i boone te ‘end of this year, India will have more, than 87 million square feet of shopping space in its malls, The country already has 570, functional malls, with this number having doubled over the last five years, There is, however, one problem: buyers are no longer doing their shopping at malls. What, “Tooked like India’s great retail growth story is turning out to be a tale of empty shopping, complexes and stalled projects, with developers giving up midway instead of trying to make, these projects profitable. The culprit, data suggests, could be online shopping., 3, Areport by The Associated Chambers of Commerce and Industry of India pegs the growth, Physical stores are the ones, desks, , , , , , , at 40-50% in the next five year, and comfort that e-commerce has brought to the, , y to visit a retail outlet to buy, , rate of e-commerce in India, lying vacant. This, , bearing the brunt of massive discounts, , and palms of the youngsters who no longer feel it nec, something. According to the report, 80-85% of the space in the new malls me, oblem is being faced by mall owners across the board, starting with metropolitan cities like, , Delhi, Mumbai and Chennai, follow ed by Ahmedabad and Hyderabad. In each of these cities,, mall rentals fell by more than 40% owing to fewer footfalls., , 4, Atthe same time, online shopping grew by over 350% in just one year, the report adds. “Apart, from convenience, rising fuel price, security reasons, online discounts and availability with, abundance of choices are keeping consumers indoors,” said DS Rawat, Secretary General of, , , , , , , , , ASSOCHAM., , 5, Even then, revenues continue to come in for some of the malls. The reason: anchor stores. Anchor, stores are those specialised stores that offer exclusive products generally not available online., Brands like Zara, H&M and even Starbucks are acting as anchor stores for mall owners, who are, rushing to sign them, at times with revenue sharing models and larger exclusive spaces., , 6, Evidently, the surge of online retail has also forced mall owners to set their priorities straight, as, watching movies and dining out remains among the last few things that people cannot get, delivered to their doorstep. “The arrival of the mall syndrome has accelerated the growth of, , cineplexes as multiplexes are the anchor tenants in most of these malls,” Shravan Shroff,, , managing director, Shringar Cinemas., Only 17% of Indians are online as of now, a low number compared to other countries., , However, these numbers are soon set to swell up exponentially as India hits the mark of 300, ends, leaving mall owners as well as retailers with the, , , , million people online before the y, mammoth task of luring people away from their computers and phones to physical stores at a, , time when developers are slowing down on projects., Historical and projected growth of online, retail in India ($ billion) a, , , , , , , , 7) js, , 20122013 2020, , , , , , , , , , , , , , , , , , , , , , , , 2011