Average monthly rentals across the major high street retail markets mostly saw corrections across cities. However, there were also few markets that saw an upward trend.
Presently, data indicates that 14 new malls spread over 5.9 mn sq. ft. area will get operational by 2021-end across Indian cities, and fit-outs are underway in at least 10 of them.
essential goods will fuel Indian retail industry’s growth in the coming quarters as consumer expenditure continues to remain focused on essentials—particularly food and grocery—reveals the latest report by ANAROCK & Retailers Association of India (RAI) titled ‘Indian Retail – Certainty Despite Headwinds’
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91% of Indian retail sales driven by brick-and-mortar stores, but smaller cities remain underserved
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Good quality mall stock to increase by 10-15%; mediocre-to-weak stock to decline by 5-10%
While e-commerce and brick-and-mortar stores will continue to co-exist in India, e-commerce currently has a definite edge over physical retail in India’s tier II and tier III cities warns ANAROCK Retail’s report ‘Rebirth of Retail Malls: New, Improved and Revitalized’.
The report, which was released at the India Retail Forum (IRF) in Mumbai today, mentions that India’s tier-II / tier-III cities will also be key contributors to the country’s retail growth going forward. The organized retail market is growing at CAGR of 20-25%.
“Nearly 100 million people out of India’s 300-400 million-strong middle class currently live in tier-II and tier-III cities,” says Anuj Kejriwal, MD & CEO – ANAROCK Retail. “This indicates that a significant portion of Indian retailers’ target clientele lives in the non-metro cities. In cities such as Jaipur and Surat,
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