stores/malls suffer as online retail picks up

Thane, near Mumbai, once bet big on the mall culture. But according to the Association of retail traders in Thane, rising number of consumers are turning to online shopping.

Result: At least five per cent of retail outlets in the city have either shut shop or are in the process of winding up business. Rise of ecommerce is damaging business prospects of physical retailers, as consumers frequent stores/malls much less. Even festive season, has seen muted response. Continue reading on