Content area
Full Text
INTRODUCTION
Marketplaces in urban demographic settings attract large numbers of buyers and sellers, which can be termed as market thickness. Coexistence of many shopping malls along with traditional markets in a marketplace causes market congestion . This problem may be resolved by developing small kiosks for transactions and allowing consumers to indent customized products and services from the base stores (Roth, 2008). The growth of market share for specialized retailers and large departmental stores depends on the size of consumer segment in a given urban population. It is observed that consumers' buying preferences become more diversified as the extent of retail stores increase within a confined area. Thus, the market size reaches a threshold and the consumers' preferences of shopping are jeopardized due to indecisiveness in shopping.
The coexistence of street markets and the rise of shopping malls have been major trends of retailing in developing countries for decades. However, the increasing emphasis on growing cities with contemporary marketplaces have induced a shift of agglomeration format (AF) from a marketing perspective, including the consumer preferences on routes to market. There are some generic similarities and conceptual differences between street markets and shopping malls. The AF-specific characteristics perceived by consumers lead to the change in consumer behaviour towards markets' preferences for shopping (Teller, 2008). In centrally managed and enclosed shopping centres in the retailing sector, eight underlying factors of varying character that drive customer satisfaction are - selection of market outlet, atmosphere, convenience, salespeople, refreshments, location, promotional activities and merchandising policy (Anselmsson, 2006).
This article discusses the consumer attributes that support the existence of both shopping malls and street markets in fast developing urban areas in context of Mexico City. Street markets are considered more as social organizations with ethnic congregation than business networks, whereas shopping malls have emerged as technology-led business outlets and lifestyle centres in urban areas. This article raises various arguments for and against street markets in view of increasing pressure on urban development. The discussion in the article also prompts ideas to converge modern business platforms with cultural and ethnic consumer values.
INTRODUCTION AND FRAMEWORK OF HYPOTHESES
Increasing globalization in developing countries has affected the socio-economic and cultural paradigms in urban areas and consumer behaviour is significantly influenced by the street...