Shopping Malls In An Emerging Economy!

The spurt of shopping malls in major cities across the globe inspired this study. From the Dubai Mall, Bur Juman, Wafi Mall West Field - London, Staten Island Mall New-York, Columbus Circle shops, Italie Deux, South China Mall, Dongguan, Istenye Park Istanbul, The Galleria in South Africa, Morocco Mall in Casablanca, et cetera,  even Nigeria's velocity to catch-up in the trend.

October, 2018: Highcross Mall, Leicester City

Hike in the spending habit of the average Nigerian, living in the urban areas, cannot be ignored as a contributory factor to the reason major malls with state-of-the-art-facilities are on the surge. From the commercial hub Lagos, to the capital-city Abuja, to Port-Hacourt, Owerri, Aba, Onitsh, Asaba, Benin, Enugu, Calabar, Etc. Malls keep sprouting and before you knew what time it is, most of them have been occupied, with enterprises offering divers products and services. All over the Lagos metropolis and major cities across Nigeria, malls are burgeoning. Some of them have stood the test of time to become a must-see-to-place, while others closed down before you knew they existed. Yet, some struggled to maintain a level of clientele. 

An instance is the Novare Mall, Sangotedo, in the Lekki-Peninsula area of Lagos State. So far, believably the biggest shopping mall in Nigeria, the mall opened its doors to the public, in 2016. I got the "wao" effect from first time visitors, especially those who might not have had the opportunity to visit large malls in developed countries. Some people argued that the mall would not stand the test of time, considering the economic and political situation of the country. Others argued the logic of investing on a colossal project, in an emerging part of the state. Howbeit, two years on, the number of tenant and visitors the mall attracts continued to increase.

Nigeria is a major player in Africa's increasing market. Aside an increasing population, emerging middle-class as a result of increased income, is a major propellant to this factor. Since 1999 when the country returned to Democratic rule, civil servants remunerations have been reviewed over time. More-so, there have been an evolution of small and medium scale enterprises, some of which are Social Media based . The outcome, an increase in the purchasing power and living standard.  

Not far fetched from the afore mentioned theory, is the fact that entrepreneurs simply provide answers to human-needs. Over time, the hhuman specie has sought for answers to the various needs.  According to Maslow's "Theory of Human Motivation", human-needs can be categories into five levels: Psychological, safety, Love/Belonging, Esteem and Self-actualisation". 

These human-needs posed challenges which an entrepreneur graciously exploits. A keen observation of human-needs is therefore crucial in establishing an enterprise. As a social animal, a focal need is communication, followed by the need to socialize. The ability therefore to satisfy these needs, is today made possible to a large extent with the advent of the Social Media. Armed with increased purchasing power, the communication and socialization are equivalently increased. Entrepreneurs leverage on this opportunity by advertising their products and services, via various Social Media platforms. 

May, 2017: Asaba Mall, Asaba, Delta State- Nigeria

People visit the malls for a lot of reasons ranging from: hanging-out, shopping etc. They also get to share their experiences through the Social Media platforms. Apart from satisfying the Psychological, Safety, and Social needs; taking care of the Esteem need is equally important. The need for status, recognition, prestige and attention, falls this category. This is because human beings, desire to be 'respected'. People engage in activities, and professions they feel gives them some level of respect. An average individual wants to prove that they "have-arrived", or 'doing-well', according to societal standard and expectations. Opulence life-style, buying high-end products and services are simply efforts to satisfy the Esteem need. Where else are most of these brands obtained, the malls. 

Malls have evolved to became icons of development. Visits to popular malls in major travel is mostly top on a tourist's 'must-do' lists. At holidays times, the malls are swamped by a sea of people, from all strata: high, middle, low class, patronizing the stores. From games, cinema, pubs, eateries, groceries, sport-shops, clothes, health, beauty, cosmetics and interiors, all captivating-ly displayed to attract visitors. Some malls offer financial services, like Banks, and the Automated Teller machines (ATM). There is no way one can escape spending, even if it is in the minimal.

Due to improved standard of living, high and middle-income earners, living in developing countries, can afford to shop for most of their needs in a one-stop-mall for convenience.

Obianuju Mbanusi, writes.