Tag: Indian Malls

Indian Malls – Change Is The Only Constant

by Anuj Kejriwal

Anuj Kejriwal, MD & CEO – ANAROCK Retail

There is so much talk of the death of brick-and-mortar retail as a consequence of the aggressive advent of e-commerce into the country, when the fact is that shopping malls have just got started in India – and they are definitely here to stay.

As developers learn through trial and error and come up with more winning formulas for their malls, and as retailers get more into omnichannel selling, we will see the Great Indian Mall revolution spin into its next cycle of evolution.

Why the Indian Mall Story Rocks

Unlike ‘couch potato’ e-commerce shopping, malls offer an experience… a touch-and-feel benefit which online shopping cannot. Also, going to a mall becomes an outing for the family and friends, often coupled with a meal at the food court and a movie at the cineplex.

All this in air-conditioned comfort, escalators and lifts connecting everything to the parking below, and scrupulously cleaned sanitary facilities at all levels. The massive Indian middle class loves this experience and online retail is unlikely to put malls in the shade in India anytime soon.

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The Rise And Rise Of Indian Malls

by Anuj Puri

Anuj Puri, Chairman – ANAROCK Property Consultants

  • Over 30 new shopping malls covering 14 million sq. ft. of the area expected across top 8 cities by 2020
  • Indian retail pegged to grow by 60% to reach US$ 1.1 trillion by 2020
  • Tier 2 cities fast catching up with the metros

Rapid urbanization and digitization, increasing disposable incomes and lifestyle changes of the middle-class are leading to a major revolution in the Indian retail sector, which is pegged to grow by 60% to reach US$ 1.1 trillion by 2020.

The Government has clearly hit the bullseye by easing the FDI norms in the retail sector over the past few years. Reacting to the immense opportunities and diminishing entry barriers into the Indian retail scene, overseas retailers are now expanding exuberantly.

And it’s not just the metros they’re targeting – even tier 2 cities like Ahmedabad, Chandigarh, Lucknow and Jaipur, to name a few, are opening up for organized retail in a big way. Malls are literally mushrooming across the Indian subcontinent.

Ready,

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