The original business model for virtual malls aimed to provide customers an immersive shopping experience similar to a physical mall through a consolidated online platform. Revenue came from store sales commissions. However, the model was improved to also target retailers as customers and generate revenue from shop rents and advertisements. Key activities in the revised model include developing an interactive 3D virtual mall, providing store assistants, and setting up a rewards system.

1. Turning a “Worst” idea to a
good one – Virtual Malls

2. Original Business Model

3. Original Business Model*
 Value Proposition
 Provides an experience similar to going to an actual mall
where the user can shop through virtual storefronts from
one consolidated site providing a rich, immersive experience
 Customer Segments
 E-Commerce shoppers
 Revenue Streams
 We get a percentage from each store sale
*Only major sections shown which shall be Improved upon

4. Original Business Model
 Key Activities
 Develop a 3d model of a website with different store fronts.
 User should be able to walk through the mall/see how many
people are inside which store.
 Each store can have their own hoarding advertising
promotions etc.
 Create a store currency/store credit card details which can be
used at any store to shop.

5. Revised Business Model

6. Revised Business Model
 Value Proposition
 Provides an experience similar to going to an actual mall where the
user can shop through virtual storefronts from one consolidated site
providing a rich, immersive experience
 Customer Segments
 E-Commerce shoppers
 Retail outlets – for virtual malls even the retail outlets are
customers as they also are the users the facilities of the
platform

7. Revised Business Model
 Revenue Streams
 Major revenue stream would be through the shop
monthly rents
 Second through the advertisements
 Third a small fraction from the sales made through
the platform

8. Revised Business Model
 Key Activities
 Develop a 3D model of a website with different store fronts
 Provide authentic online store assistant for each
store
 Set up store/mall reward points system

9. Virtual Shopping Malls

10. What is Virtual Shopping Malls?
Virtual Malls is a platform which brings together the
various retail outlets and the public to single point
for facilitating trade

11. Advantages for Retailers
 Very low rents/maintenance costs leading to better profitability
 Reach to huge customer base
 Can serve entire country without a physical store
 Maintain inventory in an efficient manner and never stock-out
 Maintain inventory at fewer places rather than in all branches
 Advertising /promotions at lower cost
 No contracts for rent – can shut shop anytime

12. Advantages for Customers
 One-stop for all their shopping needs
 Experience of a mall from the comforts of home
 Flexi-timing – open 24 hrs on all days
 Compare prices from various competitive shops
 Saves time of driving down to a mall, searching for stores within
the mall, searching for the right product within the store
 Online store representative (optional) to resolve all their queries
 Options for same day delivery

13. How is it different from Online Shopping?
 Virtual Mall provides a feel of walking through an actual
mall – 3D scenario
 Items are primarily categorized by Shops and not by type
 There shall be an actual Store representative available
online to assist
 Obtain shopping rewards / promotions directly from the
shops