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SURVEY REVEALS 50% MALLS MAY SHUT DOWN BY 2010

Experts say that by the year 2010, 50% of the malls across the city would be shut down due to consolidation in the retail industry. They say that retailers believe that the demands of consumers have increased but they do not realize that consumers have also become more demanding. Since most of them focus on expansion rather than improving their services and retaining the consumer, margins of organized retailers were likely to decline.

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