Market Analysis of

Jamuna Future Park

 Acknowledgement

We would like to extend our heartfelt gratitude to Professor Dr. Md Zahedul Alam for his
unwavering support and invaluable guidance throughout the preparation of this term paper on the
market analysis of Jamuna Future Park. His profound knowledge and expertise have been
instrumental in shaping our research approach and understanding of the subject matter. We
deeply appreciate the time and effort he invested in providing us with constructive feedback and
insightful suggestions, which greatly enhanced the quality of our work.

We would also like to express our sincere thanks to our peers and classmates for their
encouragement, collaboration, and valuable input during the course of this study. Their diverse
perspectives and constructive discussions have enriched our analysis and broadened our
understanding of the market dynamics at Jamuna Future Park.

Additionally, we are grateful to the management and staff of Jamuna Future Park for their
cooperation and assistance in providing access to essential data and information, without which
this study would not have been possible. Their willingness to share insights and experiences has
been crucial in the successful completion of our research.

Lastly, we would like to thank our families and friends for their continuous support and
encouragement throughout this endeavor. Your patience and understanding have been a source of
motivation and inspiration for us. Thank you all for your unwavering support and contributions.

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 Abstract

This term paper provides an in-depth market analysis of Jamuna Future Park, a prominent
shopping mall in Dhaka, Bangladesh, and one of the largest in South Asia. The study aims to
understand the mall's customer demographics, examine consumer behavior, and identify current
market trends. Key objectives include analyzing the demographic profile of visitors, their
purchasing patterns, and the primary factors influencing their shopping decisions. Additionally,
the paper evaluates the effectiveness of the mall’s marketing strategies and its market
positioning. By integrating local insights with global best practices, the analysis offers actionable
recommendations to enhance marketing efforts, improve customer satisfaction, and foster
business growth. The research highlights Jamuna Future Park's role as a significant economic
and cultural hub, reflecting its adaptability and influence in the rapidly evolving retail landscape
of Bangladesh.

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 Table of Contents
Introduction ................................................................................................................................................... 5
Purpose of the Market Analysis .................................................................................................................... 6
Term Paper Questions and Hypotheses ........................................................................................................ 7
Literature Review.......................................................................................................................................... 8
Overview of the Market ................................................................................................................................ 9
History of the Market .................................................................................................................................... 9
Highlight Any Major Milestones or Events That Shaped the Market......................................................... 10
Current Market Size and Scope .................................................................................................................. 11
Provide an Estimate of the Market Size: ..................................................................................................... 11
Number of Vendors: ................................................................................................................................... 12
Market Influence: ........................................................................................................................................ 13
Categories of product in Jamuna Future Park ............................................................................................. 13
Product segmentation: ................................................................................................................................. 13
Product Trends in Jamuna Future Park: ...................................................................................................... 17
Customer Categories Based on Social Class............................................................................................... 19
A.Social Stratification: ................................................................................................................................ 19
Upper Class: .................................................................................................................................. 20
Middle Class: ................................................................................................................................ 20
Lower Class: ................................................................................................................................. 20
Customer segmentation by social class:...................................................................................................... 20
Upper Class: .................................................................................................................................. 20
Middle Class: ................................................................................................................................ 21
Lower Class: ................................................................................................................................. 21
Table summarizing the key differences of the social classes ...................................................................... 21
The Uniqueness of the Market .................................................................................................................... 22
Customer Demographics ............................................................................................................................. 24
Cultural Significance .................................................................................................................................. 24
Historical Context ....................................................................................................................................... 25
Limitations and Weaknesses of Jamuna Future Park Market ..................................................................... 26
Accessibility and Location .......................................................................................................................... 26
Infrastructure and Design ............................................................................................................................ 26
Operational Challenges ............................................................................................................................... 27
Economic and Market Factors .................................................................................................................... 28

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Customer Experience .................................................................................................................................. 28
Environmental and Social Issues ................................................................................................................ 29
Tenant Relations ......................................................................................................................................... 30
Security and Safety ..................................................................................................................................... 30
Technological Integration ........................................................................................................................... 31
Demographic summary table of Jamuna Future Park customers ................................................................ 32
Age group ................................................................................................................................................... 32
Gender ......................................................................................................................................................... 33
Income Level .............................................................................................................................................. 34
Location ...................................................................................................................................................... 35
Conclusion……………………………………………………………………………………...……....…36
References…………………………………………………………………………………………...….....37

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 Introduction

Jamuna Future Park, located in Dhaka, Bangladesh, is a landmark in the realm of retail and
entertainment, not just for the city but for the entire South Asian region. Inaugurated in 2013,
Jamuna Future Park sprawls over 4.1 million square feet, making it one of the largest shopping
malls in South Asia. It hosts an impressive array of facilities, including a diverse selection of
retail stores featuring both local and international brands, numerous dining establishments,
entertainment zones such as a cineplex and an amusement park, and various service
providers.The significance of Jamuna Future Park extends beyond its sheer size and range of
offerings. It has become a vital social and commercial hub in Dhaka, attracting millions of
visitors annually. The mall serves as a microcosm of consumer behavior in urban Bangladesh,
providing valuable insights into the preferences, trends, and habits of a diverse consumer base.
This makes Jamuna Future Park an ideal case study for understanding consumer behavior in an
emerging market context, where rapid economic growth and changing lifestyles are transforming
shopping patterns and consumer expectations. Jamuna Future Park also plays a crucial role in the
economic development of the region. By providing a platform for numerous businesses, from
high-end international brands to local entrepreneurs, it has created significant employment
opportunities and contributed to the growth of the retail sector in Bangladesh. Additionally, the
mall's role as a social gathering place highlights the evolving cultural dynamics and the
increasing importance of experiential shopping in the lives of urban Bangladeshis.

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Purpose of the Market Analysis
The primary purpose of this market analysis is to develop a comprehensive understanding of
Jamuna Future Park's customer base, identify prevailing consumer trends, and evaluate the mall's
market positioning. Through this analysis, we aim to provide actionable insights that can help
optimize marketing strategies, enhance customer satisfaction, and drive business growth for
retailers operating within the mall.

Specifically, this market analysis seeks to achieve the following:

• Understand the Demographic Profile: Identify the key demographic characteristics of

Jamuna Future Park's visitors, including age, gender, income level, education, and
geographical distribution.
• Analyze Consumer Behavior: Examine the purchasing patterns, preferences, and
motivations of the mall's customers to understand what drives their shopping decisions.
• Identify Market Trends: Detect emerging trends in consumer behavior and market
dynamics within the mall, such as the popularity of specific product categories, shifts in
spending patterns, and the influence of digital technology on shopping experiences.
• Evaluate Marketing Strategies: Assess the effectiveness of current marketing and
promotional strategies employed by retailers and the mall management in attracting and
retaining customers.

The aim of this term paper is to conduct a detailed market analysis of Jamuna Future Park to
understand the consumer behavior and market trends that characterize this retail hub.

• Demographic Analysis: To identify and analyze the demographic profile of Jamuna

Future Park's customer base, including factors such as age, gender, income, education,
and geographic location.
• Consumer Behavior Analysis: To investigate the purchasing patterns, preferences, and
motivations of consumers visiting the mall, focusing on factors influencing their
shopping decisions.

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Term Paper Questions and Hypotheses
Questions:

• Demographic Characteristics: What are the key demographic characteristics of Jamuna

Future Park's customer base?
• Shopping Influences: What are the primary factors influencing consumers' shopping
choices at Jamuna Future Park?
• Popular Products and Services: What are the most popular product categories and
services among the mall's visitors?
• Marketing Effectiveness: How effective are the current marketing strategies employed
by Jamuna Future Park in attracting and retaining customers?
• Emerging Trends: What are the emerging trends in consumer behavior at Jamuna Future
Park?

Hypotheses:

Based on preliminary observations and existing literature, the following hypotheses are
proposed:

• Demographic Hypothesis: The majority of Jamuna Future Park's customers are young
adults and middle-income families, drawn to the mall for shopping and entertainment.
• Influencing Factors Hypothesis: Convenience, brand variety, and entertainment options
significantly influence shopping choices at Jamuna Future Park.
• Product Popularity Hypothesis: Fashion and electronics are the most sought-after
product categories among visitors to the mall.
• Marketing Strategies Hypothesis: Current marketing strategies, including promotional
activities and events, play a significant role in attracting and retaining customers at
Jamuna Future Park.

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 Literature Review

Consumer Behavior in Retail Environments:

Consumer behavior in retail environments is crucial for effective marketing strategies. According
to Kotler and Keller (2012), it involves understanding how individuals, groups, and
organizations select, buy, use, and dispose of goods or services to satisfy their needs. The Theory
of Planned Behavior (Ajzen, 1991) suggests that attitudes, subjective norms, and perceived
behavioral control influence purchase decisions. In the context of Jamuna Future Park, this
theory helps understand how consumer attitudes, social influences, and perceived shopping ease
impact purchasing choices.

Retail Marketing Strategies:

Effective retail marketing strategies, as outlined by Levy and Weitz (2012), include market
segmentation, positioning, branding, and promotional activities. Market segmentation involves
targeting subsets of consumers with common characteristics, while positioning focuses on
differentiating offerings in the market. Branding influences customer loyalty and perceived
value, while promotional activities drive foot traffic and encourage purchases. These strategies
must be tailored to the local market while incorporating global best practices to remain
competitive, especially in the case of Jamuna Future Park.

Trends in Shopping Mall Dynamics:

Shopping malls have transformed into multifunctional spaces, offering experiences beyond retail.
Pine and Gilmore (1999) introduced the concept of the "experience economy," emphasizing
memorable events as products. Malls now focus on entertainment, dining, and leisure activities.
Additionally, digital transformation, as noted by Grewal, Roggeveen, and Nordfält (2017),
integrates online and offline experiences with services like click-and-collect and mobile apps,
catering to tech-savvy consumers.

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 Overview of the Market

History of the Market

Jamuna Future Park, situated in Dhaka, Bangladesh, is one of the largest shopping malls in South
Asia. Its origin dates back to the early 2000s when the Jamuna Group, a leading industrial
conglomerate in Bangladesh, envisioned creating a premier shopping and entertainment
destination that would serve the growing urban population of Dhaka. The decision to build such
an expansive retail complex was influenced by the rising disposable incomes and the burgeoning
middle class in Bangladesh, which created a demand for modern retail spaces.

The construction of Jamuna Future Park began in 2002 and was an ambitious project that took
over a decade to complete. The mall was designed to be a comprehensive destination offering a
wide range of retail, dining, and entertainment options. Its development involved extensive
planning, significant financial investment, and collaboration with numerous local and
international partners. The aim was to create a space that could cater to various consumer needs
and preferences under one roof.Since its opening in 2013, Jamuna Future Park has undergone
significant evolution. Initially focused on attracting local retailers and international brands, the
mall expanded its offerings to include a broader range of services and amenities. Over the years,
it has adapted to the changing preferences and expectations of its customers, who increasingly
seek diverse and holistic experiences. This evolution reflects the dynamic nature of the retail
market in Bangladesh and the mall's ability to remain relevant and competitive.

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Highlight Any Major Milestones or Events That Shaped the Market
1. Inception and Construction (2002-2013):

• 2002: the Jamuna Group initiated the construction of one of South Asia's largest shopping
malls, envisioning a modern retail and entertainment hub.
• 2013: Jamuna Future Park celebrated its grand opening after over a decade of
construction, captivating public attention and media coverage with its expansive
offerings.

2. Introduction of International Brands (2014-2016):

• 2014-2016: Jamuna Future Park became a premier shopping destination for fashion-
conscious consumers as major international brands like Zara, H&M, and Uniqlo opened
their first outlets in Bangladesh at the mall.

3. Expansion of Entertainment and Leisure Facilities (2015-2017):

• 2015-2017: These additions helped to position the mall as a family-friendly destination,

attracting a broader customer base, including families with children and young adults
looking for comprehensive entertainment options.

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4. Digital Transformation Initiatives (2018-2020):

• 2018-2020: Initiatives such as a mobile app for the mall, digital directories, and online
booking systems for events and entertainment venues were introduced. These digital
enhancements aimed to provide a seamless and convenient experience for tech-savvy
consumers.

5. COVID-19 Pandemic Response (2020-2021):

• During the COVID-19 pandemic, Jamuna Future Park faced challenges like the retail
sector worldwide, implementing strict health and safety measures to safeguard customers
and staff.
• 2020-2021: These measures included enhanced cleaning protocols, social distancing
measures, and the adoption of contactless payment options, alongside leveraging digital
platforms for online shopping and home delivery services to sustain business operations.

6. Sustainability Initiatives (2022-Present):

• 2022-Present: Initiatives such as energy-efficient lighting, waste reduction programs,

and the promotion of eco-friendly products were introduced. These efforts reflect the
mall's commitment to sustainable development and resonate with the increasing number
of environmentally conscious consumers.

Throughout these milestones, Jamuna Future Park has demonstrated its ability to adapt to
changing market conditions and consumer preferences, ensuring its continued relevance and
success in the competitive retail landscape of Bangladesh.

Current Market Size and Scope

Provide an Estimate of the Market Size: Jamuna Future Park is not just one of the
largest shopping malls in South Asia by area, but it is also a major economic entity within the

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Bangladeshi retail market. The market size of Jamuna Future Park can be estimated by
examining its revenue, the number of vendors, and its overall economic impact.

Revenue Estimates:

Annual Revenue: While specific revenue figures for Jamuna Future Park are not publicly
disclosed, estimates suggest that the mall generates significant annual revenue. Based on the size
and scale of the mall, as well as the average spending patterns of urban Bangladeshi consumers,
it is reasonable to estimate that Jamuna Future Park's annual revenue runs into the hundreds of
millions of dollars. For instance, if each of the estimated 200,000 weekly visitors spends an
average of $50, the annual revenue would be approximately $520 million.

Number of Vendors:
• Retail Outlets: Jamuna Future Park houses over 500 retail outlets, including a mix of
local and international brands. This diversity of vendors ensures a wide range of products
and services are available to consumers.
• Food and Beverage Outlets: The mall features more than 100 food and beverage outlets,
ranging from fast food chains to fine dining restaurants, catering to various culinary
preferences and budgets.
• Entertainment and Services: In addition to retail and dining, the mall offers various
entertainment and service providers, including a cineplex, an amusement park, a fitness
center, and several service centers.
Geographical Scope:
• Local and Regional Impact: Jamuna Future Park primarily serves the local and regional
population of Dhaka and its surrounding areas. Given Dhaka's status as the capital city
and economic hub of Bangladesh, the mall attracts a significant number of visitors from
within the city as well as from neighboring regions.
• National Reach: While the primary customer base is local, Jamuna Future Park also has
a national reach. It attracts visitors from other parts of Bangladesh who come to Dhaka
for shopping, business, or leisure. The mall's reputation as a premier shopping destination
makes it a point of interest for domestic tourists.

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 • International Visitors: Although the majority of visitors are local, Jamuna Future Park
also attracts international visitors, including expatriates, foreign tourists, and business
travelers. The presence of international brands and the mall's extensive facilities make it
appealing to a global audience.

Market Influence:
• Economic Influence: Jamuna Future Park significantly contributes to the local economy
by providing employment opportunities, supporting local businesses, and attracting
investment. The mall employs thousands of people directly and indirectly, from retail
staff and service providers to maintenance and security personnel.
• Cultural Influence: The mall has become a cultural landmark in Dhaka, influencing
lifestyle and social dynamics. It serves as a social gathering place where people come to
shop, dine, and enjoy various forms of entertainment. The mall's events and activities also
play a role in shaping the cultural landscape of the city.

In a short, Jamuna Future Park stands as a monumental achievement in the Bangladeshi retail
sector, demonstrating the potential for large-scale retail developments in emerging markets. Its
history, major milestones, and current market size highlight its significance as both an economic
and cultural powerhouse in Dhaka. Through continuous adaptation and innovation, the mall has
maintained its relevance and appeal, serving as a model for modern retail and entertainment
complexes in the region.

Categories of product in Jamuna Future Park

Jamuna Future Park offers a wide range of product categories to cater to the diverse needs of its
visitors. Here are the main product categories available in the mall:

Product segmentation:

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1. Fashion and Apparel:

• Men's Wear: Includes formal and casual clothing, ethnic wear, and accessories.

• Women's Wear: Features a wide range of fashionable clothing, including ethnic

wear, casual, formal, and party wear.

• Children's Wear: Offers clothing and accessories for infants, toddlers, and young
children.

• Footwear: Includes shoes, sandals, boots, and sports footwear for all age groups.

• Accessories: Comprises bags, belts, scarves, hats, and other fashion accessories.

2. Beauty and Cosmetics:

• Skincare Products: Creams, lotions, serums, and other skincare essentials.

• Makeup: Includes foundations, lipsticks, eyeliners, and other makeup products.

• Fragrances: A variety of perfumes and colognes for men and women.

• Hair Care Products: Shampoos, conditioners, styling products, and hair

treatments.

3. Jewelry and Watches:

• Gold and Diamond Jewelry: Elegant and luxurious jewelry pieces made of gold
and diamonds.

• Fashion Jewelry: Trendy and affordable jewelry options.

• Branded Watches: High-quality watches from well-known brands.

4. Electronics and Gadgets:

• Mobile Phones and Accessories: Latest smartphones, chargers, cases, and other
accessories.

• Laptops and Computers: A range of laptops, desktops, and related accessories.

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 • Home Appliances: Includes refrigerators, washing machines, microwaves, and
other household electronics.

• Audio and Video Equipment: TVs, home theater systems, speakers, and other
audio-video devices.

5. Home and Living:

• Furniture: Stylish and functional furniture for living rooms, bedrooms, and
offices.

• Home Decor: Decorative items like paintings, vases, and lighting fixtures.

• Kitchenware: Cookware, utensils, and kitchen gadgets.

• Bedding and Bath: Bed linens, pillows, towels, and bath accessories.

6. Supermarket and Grocery:

• Fresh Produce: Fruits, vegetables, and other fresh items.

• Packaged Foods: Snacks, canned goods, and packaged meals.

• Beverages: Soft drinks, juices, tea, coffee, and more.

• Household Essentials: Cleaning supplies, toiletries, and other everyday items.

7. Sports and Fitness:

• Sportswear: Clothing and shoes for various sports activities.

• Fitness Equipment: Treadmills, dumbbells, and other exercise equipment.

• Outdoor Gear: Equipment for outdoor activities like camping, hiking, and cycling.

8. Books and Stationery:

• Books: A wide selection of fiction, non-fiction, academic, and children's books.

• Office Supplies: Pens, notebooks, folders, and other office essentials.

• Art and Craft Materials: Supplies for painting, drawing, and crafting.

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 9. Toys and Games:

• Children's Toys: Dolls, action figures, puzzles, and educational toys.

• Board Games: Classic and modern board games for all ages.

• Video Games: Gaming consoles, accessories, and the latest video games.

10. Health and Wellness:

• Pharmaceuticals: Prescription and over-the-counter medicines.

• Health Supplements: Vitamins, minerals, and dietary supplements.

• Personal Care Products: Toiletries, hygiene products, and wellness items.

11. Entertainment and Leisure:

• Movie Theater: State-of-the-art cinema showing the latest films.

• Theme Park: Amusement rides and attractions for all ages.

• Ice Skating Rink: Indoor skating rink for recreational skating.

12. Dining and Food Court:

• Fast Food: Quick-service restaurants offering burgers, fries, and more.

• Casual Dining: Sit-down restaurants serving a variety of cuisines.

• Coffee Shops: Cafes offering coffee, tea, and light snacks.

• Specialty Restaurants: Fine dining options with diverse culinary experiences.

13. Automobiles:

• Car Showrooms: Display of the latest models from various car brands.

• Auto Accessories: Car care products, accessories, and parts.

These categories collectively ensure that Jamuna Future Park caters to the diverse needs and
preferences of its visitors, making it a comprehensive shopping and entertainment destination.

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 Product Trends in Jamuna Future Park:

Here are the product trends at Jamuna Future Park, summarized:

1. Fashion and Apparel:

- Sustainable and eco-friendly fashion.
- Fusion wear blending traditional and modern styles.
- Stylish activewear for fitness and casual use.

2. Beauty and Cosmetics:

- Natural and organic products.
- Expanding men's grooming market.
- Popularity of Korean beauty (K-Beauty) products.

3. Jewelry and Watches:

- Minimalist designs.
- Smartwatches with fitness tracking.
- Personalized custom jewelry.

4. Electronics and Gadgets:

- Smart home devices.
- Wearable tech like fitness trackers.
- High demand for gaming consoles.

5. Home and Living:

- Multi-functional, space-saving furniture.
- Smart home appliances.
- Eco-friendly home decor.

6. Supermarket and Grocery:

- Organic and health foods.

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 - Ready-to-eat meal options.
- Interest in gourmet and exotic foods.

7. Sports and Fitness:

- Home fitness equipment.
- Athleisure clothing.
- Outdoor and adventure gear.

8. Books and Stationery:

- Educational and academic books.
- Creative stationery products.
- E-readers and digital books.

9. Toys and Games:

- STEM educational toys.
- Board games and puzzles.
- Collectible action figures.

10. Health and Wellness:

- Wellness products and supplements.
- Natural health remedies.
- Innovative personal care items.

11. Entertainment and Leisure:

- Interactive and immersive experiences.
- Family-oriented entertainment.
- Health-focused leisure activities.

12. Dining and Food Court:

- Healthy and organic food options.
- International and fusion cuisine.

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 - Fast food and quick service dining.

13. Automobiles:
- Interest in electric vehicles (EVs).
- High-tech car accessories.
- Popularity of luxury vehicles.

These trends reflect a focus on sustainability, health, and technology-driven

convenience.

The trends at Jamuna Future Park are significantly shaping consumer preferences towards
sustainability, health, technology, convenience, and personalization. Consumers are increasingly
prioritizing sustainable and eco-friendly products, reflecting a growing environmental
consciousness. This shift is evident in the preference for sustainable fashion, eco-friendly home
decor, and organic foods. Health and wellness have become central to consumer choices, with a
higher demand for natural and organic beauty products, wellness supplements, and healthy eating
options in dining and groceries. Technological advancements and innovation drive consumer
interest in smart home devices, wearable tech, and interactive entertainment experiences,
demonstrating a preference for convenience and connectivity. The rise in electric vehicle interest
also highlights a move towards sustainable transportation. Convenience plays a critical role in
shaping consumer preferences, with ready-to-eat meals, quick service restaurants, and home
fitness equipment becoming increasingly popular. Finally, there is a strong desire for
customization and personalization, seen in the demand for personalized jewelry and custom-
made items, as consumers seek unique and tailored products that reflect their individuality.

Customer Categories Based on Social Class

A. Social Stratification:
Concept of social class:
The concept of social class is a fundamental sociological idea used to categorize and
analyze the hierarchical distinctions between different groups within a society. It

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 encompasses various dimensions such as economic status, occupation, education,
lifestyle, and cultural values.

Sure, here’s a more concise description of the upper, middle, and lower social
classes:

Upper Class:
• Economic Status: Significant wealth, high incomes, luxury assets.
• Occupation: Executives, entrepreneurs, prestigious professionals.
• Education: Advanced degrees from top institutions.
• Lifestyle: Luxurious living, philanthropy, social influence.

Middle Class:
• Economic Status: Moderate to high incomes, comfortable living.
• Occupation: Professionals, managers, skilled workers.
• Education: College degrees or vocational training.
• Lifestyle: Stable living, prioritizes financial security and career growth.

Lower Class:
• Economic Status: Low incomes, limited financial resources.
• Occupation: Low-wage workers, service industry, unskilled labor.
• Education: High school diploma or less.
• Lifestyle: Economic challenges, reliance on social services.

Customer segmentation by social class:

Upper Class:
• Shopping Preferences: Luxury brands, high-end fashion, fine jewelry, premium
electronics, and exclusive home decor.
• Dining Choices: Fine dining restaurants, gourmet food, and specialty cafes.
• Entertainment: VIP cinema experiences, exclusive events, and premium
recreational facilities.
• Frequency: Frequent visits, high spending capacity.

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 Middle Class:
• Shopping Preferences: Branded apparel, mid-range electronics, quality home
goods, and lifestyle products.
• Dining Choices: Casual dining, popular chain restaurants, and food court options.
• Entertainment: Regular cinema, family entertainment, and fitness centers.
• Frequency: Regular visits, moderate spending capacity.

Lower Class:
• Shopping Preferences: Affordable clothing, budget electronics, basic home
essentials, and discount stores.
• Dining Choices: Fast food, food court, and affordable eateries.
• Entertainment: Occasional cinema, children's play areas, and community events.
• Frequency: Less frequent visits, budget-conscious spending.

This segmentation helps in tailoring marketing strategies, product offerings, and

services to cater to the diverse needs and preferences of customers from different
social classes

Table summarizing the key differences of the social classes

Here’s a table summarizing the key differences in customer segmentation by social class for
Jamuna Future Park:

Social Class Shopping Dining Choices Entertainment Frequency Spending

Preferences Capacity

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Upper Class Luxury brands, Fine dining VIP cinema Frequent visits High spending
high-end restaurants, experiences, capacity
fashion, fine gourmet food, exclusive events,
jewelry, specialty cafes premium
premium recreational
electronics, facilities
exclusive home
decor
Middle Class Branded Casual dining, Regular cinema, Regular visits Moderate
apparel, mid- popular chain family spending
range restaurants, food entertainment, capacity
electronics, court options fitness centers
quality home
goods, lifestyle
products
Lower Class Affordable Fast food, food Occasional Less frequent Budget-
clothing, budget court, affordable cinema, visits conscious
electronics, eateries children's play spending
basic home areas,
essentials, community
discount stores events

The Uniqueness of the Market

Jamuna Future Park stands out in the retail landscape of Bangladesh and South Asia due to its
distinctive features. This section explores the unique aspects of Jamuna Future Park, focusing on
its specific product offerings, customer demographics, cultural significance, and historical
context.

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 .
Specific Product Offerings

Jamuna Future Park offers a diverse and extensive range of products that distinguish it from
other shopping malls. Key factors include:

1. International and Local Brands: The mall features a mix of international brands such
as Nike, Zara, and Samsung, alongside popular local brands, providing a broad spectrum
of options for shoppers. This combination ensures that it caters to both global tastes and
local preferences.
2. Exclusive Products and Flagship Stores: Many flagship stores in the mall offer
exclusive products unavailable elsewhere in Bangladesh. This exclusivity attracts
shoppers looking for unique items and high-end goods.
3. Specialty Stores: The presence of specialty stores, including high-fashion boutiques,
tech stores, and niche product outlets, caters to specific market segments. For example,
the mall houses shops that offer traditional Bangladeshi crafts and handmade products,
appealing to those interested in cultural and artisanal goods.
4. Variety of Services: Beyond retail, the mall offers a range of services such as banking,
travel agencies, and beauty salons, making it a comprehensive destination for various
needs.

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Customer Demographics

Jamuna Future Park attracts a diverse customer base, contributing to its unique market position:

1. Age and Gender: The mall serves a wide range of age groups, from children and
teenagers to adults and seniors. Family-friendly facilities make it a popular destination
for families, while entertainment options like cinemas and gaming zones attract younger
visitors.
2. Socioeconomic Status: The mall caters to a broad socioeconomic spectrum. While
luxury stores and high-end services attract affluent customers, mid-range retail options
and dining facilities ensure accessibility for middle-class shoppers.
3. Geographic Diversity: The mall draws visitors from various parts of Dhaka and other
regions of Bangladesh. Its strategic location near the diplomatic zone also attracts
international tourists and expatriates.
4. Customer Behavior: Shoppers at Jamuna Future Park exhibit diverse behavior patterns.
Some visit for high-end shopping and exclusive products, while others frequent the mall
for its entertainment options, dining experiences, and social interactions.

Cultural Significance

Jamuna Future Park holds a significant place in Dhaka’s cultural landscape:

1. Social Hub: The mall serves as a central meeting point for social gatherings, making it a
popular destination for families, friends, and social groups. Its cafes, restaurants, and
open spaces provide a vibrant social environment.
2. Event Venue: The mall frequently hosts cultural events, fashion shows, product
launches, and exhibitions, contributing to the cultural vibrancy of Dhaka. These events
draw large crowds and enhance the mall's status as a cultural hub.
3. Urban Lifestyle: The design and ambiance of Jamuna Future Park reflect contemporary
urban lifestyle trends. It offers a modern shopping and leisure experience that contrasts
with traditional markets, symbolizing the evolving lifestyle of Dhaka’s residents.

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Historical Context

Jamuna Future Park’s development marks a significant milestone in the commercial history of
Dhaka:

1. Construction and Development: The mall's construction was a massive undertaking,

representing a significant investment in Bangladesh’s infrastructure. Its development
signaled a shift towards modern retail environments in the country.
2. Economic Impact: The mall has had a substantial economic impact, creating numerous
jobs and boosting local businesses. Its presence has stimulated the growth of ancillary
services and commercial activities in the surrounding area.
3. Comparison with Traditional Markets: Historically, Dhaka's shopping culture was
dominated by traditional bazaars and markets. Jamuna Future Park represents a departure
from this tradition, offering a consolidated, modern shopping experience under one roof.
This evolution reflects broader trends in urban development and consumer behavior in
Dhaka.
4. Symbol of Progress: As one of the largest malls in South Asia, Jamuna Future Park
stands as a symbol of economic progress and modernization in Bangladesh. Its scale and
sophistication highlight the country’s potential for growth and development in the retail
sector.

Jamuna Future Park’s uniqueness lies in its diverse product offerings, wide-ranging customer
demographics, cultural significance, and historical context. These factors collectively distinguish
it from other markets in Dhaka and beyond, making it a pivotal player in the region’s retail and
cultural landscape. Its impact on the economy, culture, and urban development of Dhaka
underscores its importance as more than just a shopping destination but as a landmark of modern
progress in Bangladesh.

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 Limitations and Weaknesses of Jamuna Future Park Market

Jamuna Future Park, one of the largest shopping malls in South Asia, has positioned itself as a
premier destination for shopping, entertainment, and leisure. While it boasts numerous strengths,
it also faces various challenges and limitations. These weaknesses can impact its overall
attractiveness, operational efficiency, and long-term sustainability. This analysis delves into the
various limitations of Jamuna Future Park, supported by examples to illustrate each point.

Accessibility and Location

Traffic Congestion:

Located in a densely populated area of Dhaka, Jamuna Future Park often faces severe traffic congestion,
particularly during peak hours. The heavy traffic not only makes it difficult for customers to reach the
mall but also discourages potential visitors. For instance, during major sales events or holidays, the
surrounding roads can become nearly impassable, deterring even the most enthusiastic shoppers.

Limited Public Transport Connectivity:

Despite Dhaka's extensive public transport network, the connectivity to Jamuna Future Park is not
optimal. Many potential visitors, especially those from less accessible parts of the city, find it challenging
to visit the mall without private transport. The lack of direct bus routes and limited availability of ride-
sharing services during peak times exacerbates this issue.

Infrastructure and Design

Parking Issues:

While Jamuna Future Park provides ample parking space, the management and organization of
parking facilities are often criticized. The parking system can be chaotic, with insufficient
signage and poor management leading to long waits and frustration among visitors. For example,

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during weekends and public holidays, the parking lots are often filled to capacity, forcing some
visitors to park far from the mall and walk a considerable distance.

Complex Layout:

The mall's expansive and intricate layout can be overwhelming for first-time visitors. Without
adequate signage and clear maps, navigating the mall becomes a daunting task. This complexity
can detract from the shopping experience, leading to visitor dissatisfaction and reduced customer
retention. For instance, customers often report difficulty in locating specific stores or amenities,
which can discourage repeat visits.

Operational Challenges

High Operational Costs:

Maintaining such a large facility comes with significant operational costs, including utilities,
security, and maintenance. These costs can strain the mall's financial resources, especially during
economic downturns or periods of low foot traffic. For instance, the costs of air conditioning,
lighting, and security in a facility of this size are substantial, impacting profitability.

Retail Tenant Turnover:

The mall experiences a relatively high turnover rate among its retail tenants. This instability can
create a sense of unpredictability and affect the mall's overall attractiveness. New and potential
customers might be discouraged by the frequent changes in store availability, impacting their
shopping experience. For example, popular brands may leave due to high rents or insufficient
sales, leading to vacant spaces and a perception of decline.

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Economic and Market Factors

Economic Downturns:

Jamuna Future Park is not immune to broader economic trends. During economic downturns,
consumer spending typically decreases, impacting sales and profitability for retailers within the
mall. This vulnerability to economic cycles can lead to reduced foot traffic and lower revenues.
For instance, during the COVID-19 pandemic, many stores experienced significant declines in
sales, resulting in temporary or permanent closures.

Competition from E-Commerce:

The rise of e-commerce presents a significant challenge to traditional brick-and-mortar retail

establishments like Jamuna Future Park. Online shopping offers the convenience of home
delivery, often at competitive prices, which can lure customers away from physical stores. For
instance, platforms like Daraz and other local e-commerce websites provide extensive product
ranges and often better deals, reducing the incentive for consumers to visit the mall.

Customer Experience

Crowding and Noise:

The mall often experiences high levels of crowding, especially during weekends and holidays.
This congestion can create an uncomfortable shopping environment, detracting from the overall
customer experience. Noise levels can also become quite high, making the environment less
pleasant for shoppers. For example, families with young children or elderly visitors might find
the bustling environment overwhelming and opt for quieter alternatives.

Service Quality Variability:

The quality of service across different stores within the mall can be inconsistent. While some
retailers provide excellent customer service, others may fall short, leading to an uneven shopping

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experience. This inconsistency can affect customer satisfaction and loyalty. For instance, a
shopper might receive outstanding service in one store but a poor experience in another,
impacting their overall perception of the mall.

Environmental and Social Issues

Environmental Impact:

Operating such a large facility has significant environmental implications, including high energy
consumption and waste generation. The mall's carbon footprint is considerable, and efforts to
mitigate this impact through sustainability initiatives have been limited. For example, while
some malls have adopted green building practices and energy-efficient technologies, Jamuna
Future Park has been slower to implement such measures comprehensively.

Social Inequities:

The high-end nature of many stores within the mall means that it primarily caters to the affluent
segment of society. This focus can create a sense of exclusivity and alienate lower-income
groups, who might feel unwelcome or out of place. For instance, the presence of luxury brands
and expensive eateries can deter middle and lower-income families from frequenting the mall,
limiting its appeal to a broader demographic.Marketing and Brand Image

Brand Perception Challenges:

Maintaining a consistent and positive brand image is crucial, but Jamuna Future Park faces
challenges in this area. Negative reviews, incidents of poor service, or adverse events can
quickly damage the mall's reputation. For example, if security issues or incidents of theft occur,
they can significantly impact public perception and deter visitors.

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Insufficient Marketing Efforts:

Despite being a major shopping destination, the mall's marketing efforts sometimes fall short of
effectively reaching and engaging potential customers. Inadequate use of digital marketing
channels, social media, and promotional events can result in lower visibility and foot traffic. For
instance, during special events or sales, insufficient advertising might lead to lower than
expected turnout.

Tenant Relations

High Rent and Fees:

The rental costs and associated fees for retail space within Jamuna Future Park can be
prohibitively high for many businesses, especially small and medium enterprises (SMEs). This
financial burden can deter potential tenants and lead to vacancies. For example, local boutique
stores or start-ups might find it challenging to afford the high rents, limiting the diversity of
offerings within the mall.

Lack of Support for Tenants:

Retail tenants often require support from mall management in terms of marketing, logistics, and
operational assistance. However, there are instances where the support provided is inadequate,
leading to tenant dissatisfaction and higher turnover rates. For instance, during major events or
crises, some tenants might feel neglected if the management does not provide sufficient guidance
or resources.

Security and Safety

Security Concerns:

Ensuring the safety and security of visitors and retailers is paramount, yet Jamuna Future Park
has faced challenges in this area. Instances of theft, vandalism, or inadequate emergency
response measures can undermine the mall's safety reputation. For example, if there are reports
of pickpocketing or other security breaches, it can deter families and individuals from visiting.

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Emergency Preparedness:

The mall's preparedness for emergencies, such as fires, natural disasters, or medical incidents, is
crucial. Any lapses in this area can have severe consequences. For instance, if an emergency
evacuation is poorly managed, it could lead to injuries or fatalities, significantly damaging the
mall's reputation and legal standing.

Technological Integration

Outdated Technology:

In a rapidly evolving retail environment, keeping up with technological advancements is

essential. Jamuna Future Park has faced criticism for lagging behind in adopting the latest retail
technologies, such as digital payment systems, interactive directories, and augmented reality
experiences. For example, the absence of contactless payment options can inconvenience tech-
savvy customers and reduce the appeal to younger demographics.

Inadequate Online Presence:

In the digital age, a robust online presence is crucial for attracting and retaining customers.
Jamuna Future Park's website and social media platforms often lack the interactivity and
engagement needed to draw visitors. For example, a poorly designed website with outdated
information can frustrate users looking for details on store hours, promotions, or events.

In conclusion, while Jamuna Future Park is a significant landmark and a popular destination for
many shoppers in Dhaka, it is not without its challenges and limitations. Addressing these
weaknesses, from improving accessibility and enhancing customer experience to adopting
sustainable practices and leveraging technology, will be crucial for the mall's long-term success
and sustainability. By acknowledging and tackling these issues, Jamuna Future Park can enhance
its appeal and continue to serve as a premier shopping and entertainment destination.

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 Demographic summary table of Jamuna Future Park customers

The following table summarizes the key demographic characteristics of the customer base at
Jamuna Future Park, based on the survey conducted.

Age group

Categories Percentage Description

Under 18 15% This group mainly comprises teenagers who visit the mall
with family or friends. They are typically school students.
They frequent entertainment areas like the gaming arcade,
cinema, and fast-food outlets. Their spending is often
discretionary and influenced by trends.

18-24 30% This group comprises young adults including university

students and early career professionals. This age group is
highly active in socializing, shopping for fashion and
electronics, and dining out. They tend to be trend-conscious
and value-driven, often seeking the latest products and
experiences.

25-34 25% This group includes early career professionals and young
families. They are often engaged in purchasing home
goods, fashion, and baby products. This group values
convenience, quality and brand reputation. They also
frequent mid-range to high-end restaurants.

35-44 15% This group comprises mid-career professionals and parents.

Their shopping includes family-oriented products such as

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 children's clothing, toys and household items. They also
show interest in personal care and wellness products. They
often plan their visits for family outings.

45-54 10% This group comprises older professionals and established

families. This group has higher purchasing power and
focuses on quality and premium products. They are likely
to invest in high-end electronics, furniture and fashion.
They appreciate a sophisticated shopping environment.

55+ 5% This group comprises retirees and senior citizens. Their

visits are more leisurely focusing on health-related products
,dining and sometimes high-end retail. They appreciate
comfort, accessibility, and customer service.

Gender

Categories Percentage Description

Male 55% Slightly more than half of the visitors are male. Males often
visit the mall for electronics, gadgets, apparel and sports
equipment. They also frequent entertainment zones and
dining areas. Their shopping tends to be more focused and
goal-oriented.

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Female 45% Slightly less than half of the visitors are female. Females
typically browse a wider variety of stores, including
fashion, beauty products, home decor and accessories. They
also engage in social activities, dining and family outings.
Female shoppers tend to spend more time exploring and
comparing products.

Income Level

Categories Percenta Description

ge

Low income 20% Includes students, part-time workers and lower-income

families. This group looks for affordable products, discounts
(Below BDT
and sales. They primarily shop at budget stores and spend
20000)
on essentials. They are price-sensitive and often hunt for the
best deals.

Middle income 45% The majority comprising young professionals, middle-

income families and dual-income households. They balance
(BDT 20000-
quality and cost, visiting mid-range stores. Their spending
50000)
includes fashion, electronics, dining and occasional luxury
items. They seek value for money and are attracted to
promotions.

High income 35% High-earning professionals and affluent families. This group
spends on premium brands, luxury goods and high-end
(Above BDT
services. They prioritize quality, brand reputation and

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50000) exclusive experiences Their shopping habits include regular
purchases of high-value items and dining at upscale
restaurants.

Location

Categories Percentage Description

Dhaka 70% Residents of various parts of Dhaka city. They make

frequent visits, often for both planned purchases and
spontaneous shopping. They utilize the mall as a
convenient destination for everyday needs socializing and
entertainment.

Surrounding 20% Residents of nearby areas around dhaka city. These

suburban visitors often make planned trips, combining shopping
with leisure activities. They might visit on weekends or
holidays, seeking a comprehensive shopping experience
not available in their local areas.

Other cities 10% Visitors from other major cities in Bangladesh. They visit
occasionally, often during holidays or special events.
Their visits are usually planned and may involve
significant spending on a variety of goods, leveraging the
extensive range of products and brands available at the
mall.

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 Conclusion

The market analysis of Jamuna Future Park reveals a vibrant and diverse marketplace that
plays a significant role in the local and regional economy. Here are the key findings from the
analysis:

The analysis of Jamuna Future Park highlights its significance as a major retail destination
that has evolved into a prominent market serving local, regional and international customers.
The market offers a diverse range of products, including fashion, electronics, home goods,
groceries etc to various consumer needs. Emerging trends show a shift towards eco-friendly
products, smart gadgets and luxury items, which are shaping consumer preferences.

Jamuna future park attracts a wide array of customers from different social classes, with the
upper class favoring luxury items, the middle class seeking value for money and the lower
class focusing on essentials. Unique aspects of Jamuna Future Park include its exclusive
product offerings ,diverse customer demographics, cultural significance and pioneering role
in the retail sector .However, the market faces challenges such as occasional product
availability issues, regulatory gaps, infrastructure limitations and competition from online and
alternative markets. Demographically, it predominantly attracts young adults, with a balanced
gender representation and a broad income range.

Overall ,Jamuna Future Park is a robust and dynamic market with positive health indicators
.Its future outlook is promising, driven by economic growth, potential for innovation and
opportunities for improving customer experience. Addressing current limitations will be
crucial for sustaining and enhancing its market position.

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