Prepare for long drives to stores

The Economic Times reports that consumers must be prepared to face long drives to reach Wal-Mart stores, which according to retail and real estate consultants, is likely to set up stores at least 10 kms away from city centres and residential areas. Sunil Mittal, Chairman of Bharti said that the company is looking at all options such as leasing, renting and owning property. Real estate will be one of the critical factors in the retail strategy of the Wal-Mart and Bharti tie up. Rentals and malls have increased by 60-70% in the past year and might be a deciding factor in the company forming its own real estate development.