IDEATHON

Car Parking in Malls

Problem Statement: Inefficiency associated with manual assistance for parking
of cars/collection of toll leading to lost sales/traffic jams in malls. Identify model
to optimize time spent in malls as opposed to parking malls by reducing manual
labor. 94% irritated due to weekend traffic chaos in Malls
Approach: Create software that maps the various levels (In breadth and width)
of parking lot as lots. Keep real time data on utilization of lots using identification
devices. Attach incoming car with tag. Tag would be encoded with open lot tag at
entry point. At every intersection point, visualization board reads tag and directs
car in proper direction. Tag can also be fed entry time data, to ensure time spent
on toll collection booth is minimal.

Market Landscape: Current Estimate is that there are 8 Malls in every big city
in India. There are 29 states. Considering only State Capitals, 29 Cities with 8
Malls constitutes 232 malls. Indian brick and mortar malls are increasing at an
exponential rate.
Revenue Model: The Model is technology based, hence licensing fee for usage
of model is collected. Furthermore, Installation fees for implementing initial plan
would also be considered a revenue.
Revenue for the Malls:
Increase in man-minute/man-trip spent in mall due to implementation: 5 minutes
Average Footfalls in Malls: More successful malls boast of numbers such as 7,000
footfalls on weekdays and 30000-45000 on weekends Anchoring Data against
Reference
Considering an average footfall of 15000 in weekends, Increase in man-minutes
due to technology: 75000 man-minute
Approx. spend per minute in Malls/Man Minute : Rs. 10
Increase in sales per weekend: Rs. 7,50,000
Increase in Sales per Year, Per Mall : Rs. 3.9 Crores.
This value does not consider the increased sales due to exposure effects and
increased chances for impulse buying.