With rising disposable incomes, growing urbanization and changing aspirations, there has been surge in consumption. Today, shopping is not limited to just buying products - shoppers are seeking a differentiated experience, and expect innovations.
Poor sales leading to almost flat prices, heavy liquidity challenges and high unsold inventory have all colluded to keep real estate sector away from fulfilling its potential and provide necessary residential stability to average citizens.
Retaining customers and getting footfalls is a challenge for malls due to a deluge of online shopping sites with hefty discounts. Malls must therefore evolve & adapt to the changing consumer behavior, writes Arjun Gehlot, Director, Ambience Mall.
Retail is a constantly evolving business. The mall of the future is no longer just a mall, and the traditional high streets are no longer just shopping destinations, writes Anuj Puri, Chairman & Country head, JLL India.
Due to increasing online shopping, it has become imperative for shopping mall developments to attract consumers by offering a superlative experience and conveniences, says Anuj Puri, Chairman & Country Head, JLL India.
One of the most imperative transformations in mall space is the increasing focus on planning and optimisation of retail spaces so as to extract their highest potential, says Anuj Puri, Chairman & Country Head, JLL India.
The maturing markets of metros have induced the brands expand their presence and reach out to non-metros. However, owing to the market dynamics and consumers commuting to metros for luxury products, primarily mid and mass-segment brands are tapping into T
As per an observation by property consultant JLL India,out of the nearly 100 operational shopping malls in the national capital, barely 12 are running successfully even as the region is the 'mall capital of India.