TENANT MANAGEMENT IS A LONG-TERM STRATEGY
How have you fared over the past 12 months?
Neptune Magnet mall was made operational during 2012 and leading brands like Reliance Digital Xpress and DLF Aveneu have already opened outlets at our shopping destination. Also, Future Group’s Central will open shortly. And, we have also strived to ensure the relevance of our mall with our target audience, in terms of entertainment and retail options. For instance, we offer an
ice skating rink and mini golf course at GETLOST, our family entertainment centre, coupled with a recently launched Cinepolis multiplex. Apart from that, our retail offerings include Bharti WalMart’s Easyday, Reliance Footprint and Metro Cash and Carry, and it has helped to build a strong momentum in footfalls at our mall.
Kindly share your views on changing consumer behaviour?
About two-fifths of the country’s population is less than 30 years and they are aspirational and demanding, and also constitute an important consumer segment for various products. Apart from that, these consumers are also looking for a shopping experience that is enjoyable and also helps them to get products at reasonable prices. And while malls are gaining in popularity amongst youth and other segments of society, but it is a challenge for any organised retailer to develop a relationship with his
consumer akin to a kirana store owner.
Please throw light on tenant relationship management and how it is evolving?
Clearly, the right mix of tenants is key to the success of any mall. And, to retain our tenants over the long-term, it is essential that we have an adequate number of shoppers at our mall and help brands achieve their sales targets.
Which category malls you believe would be successful in the long-term?
Also how do you see the retail sector evolving? In India, malls are gradually evolving into community centres and weekend family
destinations. And, an appropriate blend of food & beverage (F&B), entertainment and a suitable mix of regional, national and international brands are essential for any mall.
Explore By Industry
Copyright © 2009 - 2024 Franchise India Holdings Ltd