Making a shopping centre popular and profitable is hard work. It is also teamwork. To get the leasing strategy, the tenant mix and zoning right requires expertise. And while malls usually have skilled teams onboard, sometimes bringing an external facilitator is required. Enter real estate consultants.
With their depth of analytical skills, industry knowledge, contacts and experience, consultants sometimes prove to be the magic ingredient for success not just for mall developers but retailers as well. After all, the shopping centres are a collective business

IMAGES Group recognises the contribution made by these professionals to the shopping centre industry. From finding the right tenants to helping turn around a flailing centre and working with brands and retailers to create magic for customers, consultants add tremendous value to the retail real estate ecosystem. In this edition of Shopping Centre News, we feature some of the leading and reputable real estate consultants in the business of shopping centres. The edition carries an exclusive feature talk highlighting the journey, challenges, aspirations, vision and goals of these professionals.

This edition is also special in one other way. It is the last issue of Shopping Centre News as a separate magazine. I am happy to announce that from the next issue onwards, Shopping Centre News will be a part of Images Retail, which covers the retail universe in all depth and detail. Sure, we will meet again whatever the format!

The post Shopping Centre News – July 2023 appeared first on India Retailing Book Store.

The success of a shopping centres greatly lies on meticulous leasing with a well-planned zoning, tenant mix and offerings to target customers among other parameters. Leasing is a very delicate business, and it is very important to understand the key components of a lease transaction.

Therefore, the in-charge of leasing in a shopping centre plays a significant role in achieving the goal. His/her ultimate experience and aim offers a great valueto the guests at the shopping centre with maximum value and convenience. And, also helps to achieve higher conversions and thereby, better and higher sales for the tenants.

IMAGES Group recognizes the contribution made by these professionals in identifying the most potential tenants for their respective centres and also continuously working with brands and retailers to create new shopping destinations and achieve more and more dedicated customers.

This edition of Shopping Centre News, features some of the leading and reputed leasing professionals in the business of shopping centres. The edition carries an exclusive feature highlighting the journey, challenges, aspirations, vision and goals of these professionals.

As always, we hope you will find the issue informative and useful. Log on to https://www.indiaretailing.com/ for more features, analyses and opinions.

The post Shopping Centre News – May 2023 appeared first on India Retailing Book Store.

This gives a clear indication that the return to social normalcy after mobility curbs were lifted led to substantialgrowth in footfalls and a robust 60 per cent rise in revenue to around 116 per cent of the pre-pandemic level. Considering the healthy performance of the sector, capex is expected to pick up over the near to medium term. While a sizable part of it may be funded by equity from global investors, large debt contracted for new developments will bear watching.

The retail sales in Indian shopping centres across top 8 cities grew at a Compound Annual Growth Rate (CAGR) of approximately 3 per cent to reach USD 8Bn in FY 2022. While in FY2023, the potential consumption is estimated to surpass the pre-Covid to reach USD 11 bn. The organised retail sales volume could grow at an expected CAGR of 24% between FY 2017 and FY 2022 maintaining a healthy rate of growth.

All we can say is that this year is going to be extra special for the retail ecosystem, as we continue to grow and go forward in this covid phase.
We are glad to inform our readers that Phygital Retail Convention (PRC) returns for its 2023 edition on a massive one lakh sq. ft floor plate at the magnificent Jio World Convention Centre on May 11th and 12th in Mumbai! We hope to see you join us in large numbers there.

The post Shopping Centre News – April 2023 appeared first on India Retailing Book Store.

Retail leasing activity in shopping centres has actively increased by 5% from the previous half-year 2.43 million square feet in the second half of 2022, states a report by CBRE. This indeed is very welcoming news for the industry, as we are witnessing heightened activities and customers are seen to be thronging again to malls.

There is a significant rise in footfall and improved occupancy of 94% in established Grade A malls across major cities, which has also caused rental values in malls to appreciate predominantly in cities like Bengaluru, Kolkata, and MMR. The commercial edifices have been replaced by newer, better ones as the number of those looking to rent retail space has gone up. The total supply in 2022 touched 20.9 million square feet. The majority of this space take-up was led by domestic occupiers.

Can we think of a better start for the industry in this year, which is still being affected by the new variants of the Covid? The new normal is helping retail grow at every turn and it is heartening to see how brands are responding to the changes today. Be it D2C or the traditional ecosystem, retail is changing its course to stay afoot with the changing times. A lot is happening, and we are eagerly witnessing all these and more to learn a thing or two.

The March edition of the Shopping Centre News analyses some of the key winning formulas, which shopping centre developers across India are implementing currently. Even though a one-size- fits-all approach no longer works, that doesn’t mean winning strategies cannot be shared.

Developers have understood that they need to transform their malls into community spaces to stay relevant to today’s far more discerning customers. The marketing strategies based on demographics, consumer profiles, existing retailers and competition are leading parameters which are influencing the success mantras for malls to help them run the show better.

As always, we hope you find the issue informative and useful. Log on to our website https://www. indiaretailing. com/ category/shoppingcentre/ for more features, analysis and expert opinions.

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The new report from CBRE claims that retail leasing grew by 21 % Y-o-Y in 2022 to 4.7 million sq. ft in 2022. The supply in 2022 stood at 1.4 million sq. ft. Overall, Bengaluru and Delhi-NCR had a major share (61%) in leasing activity in 2022, while Chennai, Hyderabad, and Pune had a 9% share each. The key sectors that drove leasing activity in 2022 were fashion & apparel, food & beverage (F&B), hypermarkets, homeware & department stores.
The evaluation is a much-needed boost for the industry as we enter the new year with fresh goals, hopes renewed energy and positivity. Once again, the industry will have certain promises, goals and missions to take on. Re-building the consumption story of Indian retail is one of them and shopping centres will play a very significant role in this journey.
Going forward, we expect retail leasing to gain traction in Tier II, III, and even IV cities as retailers and landlords are looking to leverage the purchasing power of these towns and cities. Big real estate players and mall developers are reaching out to these cities for their projects in large numbers. Even the international retailers and brands are launching their stores in these upcoming malls.
In this first edition of 2022, we also bring our readers an exclusive interaction with the captains of shopping malls across India. They speak about how they are eyeing growth this year, what their strategy to stay closer to the customer is and how they are implementing technology and learning from the past year to make this year count.
As always, we hope you find the issue informative and useful. Log on to our website https://www. indiaretailing. com/ category/shoppingcentre/ for more features, analysis and expert opinions. Happy reading and wish you all a happy and profitable 2023.

The post Shopping Centre News – January 2023 appeared first on India Retailing Book Store.

Adding more to the positive news, the recent report from Knight Frank India announced that 15.5 million sq. ft. of retail space has been added across 16 malls since Jan 2020. Retail sales in Indian malls across the top 8 cities grew at a Compound Annual Growth Rate (CAGR) of approximately 3% to reach USD 8 bn in FY 2022 while in FY 2023, the potential consumption is estimated to surpass the pre – COVID-19 levels to reach USD 11 bn. The organised retail sales volume could grow at an expected CAGR of 24% between FY 2017 and FY 2022 maintaining a healthy rate of growth.

All we can say is that this year has been going to be extra special for the retail ecosystem and each and every brand across categories and domains is gearing up to welcome the new-age customer with offers, discounts and their enhanced collections. Phygital Retail Convention (PRC) 2022, turned out to be a milestone for the IMAGES Group, as we once again successfully created the platform, nurturing a successful relationship between retailers and shopping centres. And now, in this edition of Shopping Centre News, we bring you the highlights from the Grand Finale session of PRC 2022.

The cover story talks about what India’s top retailers look for in their dream shopping centre partners and on the other side, how exactly shopping centres perceive a best-fit retail tenant. In this series of match making ‘Swayamvar’, we will see retailers outlining their wishlists for the perfect destination partner. The shopping centre heads too could be vying to match their expectations in an extremely engaging banter.

The post Shopping Centre News – September 2022 appeared first on India Retailing Book Store.

Adding more to the good news; driven by pent-up demand, high vaccination coverage and resumption of multiplexes, retail malls have witnessed a sharp recovery in their operational metrics in the last few quarters. An analysis from ICRA reports that almost every single retail division has reached the pre-covid levels in Q3 FY2022 and surpassed the pre-covid trading values in Q4 FY2022. The Q3 Fy2022 is also indicating that shopping malls are touching the footfall mark of pre-Covid levels. The rental income improvement has also seen a surge of 74% (Q2 FY2022).

This indeed is a very encouraging update for the industry which is still recovering from the pandemic debacle. On a samestore basis, the rental income is expected to increase by around 30% in FY2023 and is likely to surpass FY2020 levels by around 4%-6%. With the normalcy in the trading values, the occupancy is expected to improve in FY2023.

The August edition of the Shopping Centre News discusses the EOSS in shopping malls pan India. The EOSS held in July clocked about 123% of sales growth as compared to the corresponding period in 2019. These EOSS apart from adding footfalls to the shop heavily contribute to the revenue and improve the top line. The feature emphasises on marketing gimmicks, trends and campaigns conducted by the shopping malls.

We will be hosting the third edition of ‘Phygital Retail Convention: INDIA Bharat – Exploring the World’s Biggest Consumer Story’ at Hotel Westin, Mumbai on August 24-25, 2022. We hope to see you there in large numbers.
As always, we hope to find this issue informative and useful. Log on to https:// www.indiaretailing.com/category/ shoppingcentre for more features, analyses and opinions.

The post Shopping Centre News – August 2022 appeared first on India Retailing Book Store.

Shopping activity has rapidly picked up with offices and social activities resuming in full swing. The industry is expecting, FY2022-23 to be extremely good for the shopping malls, retailers and brands across categories . Consumers are loving to visit malls and markets to shop new-season collections to refresh their outdated wardrobes and homewares and also for outdoor dining & entertaining experiences. An accelerated rebound in footfalls and occupancy is being witnessed and consumption has surpassed pre-pandemic levels. The business has bounced back in a healthy fashion and the pent-up shopping experiences that consumers had missed during the pandemic have been observed.

Going ‘Omnichannel’ became an integral part of strategies of all successful brands and retailers across the globe during this pandemic period. Shopping centres too are partnering with their tenants to give a cohesive user experience to consumers at all touchpoints. Many mall owners are today proactively adapting properties to generate growth in today’s ommnichannel era. Omnichannel allows retailers to achieve more availability, drive sales and trafic, and integrate digital touchpoints. An omnichannel retail strategy improves the customer experience and providesmore channels for customer purchase––whether it is on mobile, web, or in stores.

The cover story of the July edition explains ‘The Omnichannel Way’ so far for the shopping malls. How has the graph of success been with this Omnichannel approach, as shopping mall developers reshaped their strategies, and incorporated new features into their business structure, throughout the pandemic period. As always, we hope to find this issue informative and useful. Log on to https://www.indiaretailing.com/category/ shoppingcentre for more features, analyses and opinions.

The post Shopping Centre News – July 2022 appeared first on India Retailing Book Store.

The success of a business relationship lies in the development and growth of trust and commitment among the role-players. In the world of retail today, trust is more important than ever, especially when it comes to relationships with clients, retail tenants, employees, and all stakeholders of a business.

From retailers’ perspective choosing the right shopping centre and for shopping centres choosing the right brand, is crucial to build a valuable proposition for all stakeholders on the ground of trust. Therefore, it is critical that both parties do their homework right before signing a lease agreement.

The cover story of the June edition explains, what India’s top retailers look for in their dream shopping centre partners and what shopping centres, on the other side, are on the lookout for the best-fit retail tenants and how important and relevant it is to ‘Serve Customers Profi tably’?
The Shopping Centres Next 2022, once again turned out to be a perfect venture, where organisations,retailers and mall developers engaged in leasing, design and management come together to build strategies and partnerships to deliver superior shopper experiences in alignment with new technology and consumer behaviour paradigms.
We thank our partners, sponsors and participants for making the event a success.
We hope you are already creating new success stories from the interactions and experiences at Shopping Centres Next 2022.
As always, we hope to find this issue informative and useful. Log on to https:// www.indiaretailing.com/ category/shoppingcentre for more features, analyses and opinions

The post Shopping Centre News – June 2022 appeared first on India Retailing Book Store.

The future of retail real estate is as robust as the industry’s imagination and its ability to connect buyers to their individual and collective values and aspirations. The competitive environment is changing, forcing us to rethink all our assumptions about the industry, from how many and what kind of tenants the shopping centres need to house and how large the infrastructure must be in order to be successful. How to select the right location to build the mall, the selection of right anchor stores and the necessity of incorporating nontraditional elements such as housing, entertainment, and healthcare into mall design.

To succeed in the future the industry needs to think like the customers it serves. For example, customers never think in terms of channels. Instead, they are task-oriented, always looking for the most economical and efficient way to complete their tasks. New Normal is helping retail grow at every turn and it is verypromising to see how brands are responding to the changes today.

Talking about all these important aspects, and to mark the eventful growth story and positive resurgence of the shopping centre industry, IMAGES pompously hosted the second edition of Shopping Centres Next 2022, at the Grand Hyatt (Goa) on May 12, 2022. The on-ground mega event brought the entire shopping centre ecosystem to discuss, deliberate, and share exclusive knowledge, and actionable strategies on how to build, operate, and scale profitable shopping malls in India.

Shopping Centres Next 2022 brought together India’s leading businesses and professionals from the entire shopping centre industry ecosystem under one roof. Organisations engaged in shopping centre design, leasing and management value chain also came together to build strategies and partnerships to deliver superior shopper experiences in alignment with new technology and consumer behaviour paradigms. The objective of the event was to amplify innovation in lifestyle and social destinations for a customer- first age.

The May edition of the Shopping Centre News features the entire event in detail. We thank our partners, speakers, delegates, participating brands and readers for making this event an exciting hub of positivity, thoughts, ideas of innovation and business expansion. As always, we hope to find this issue informative and useful. Log on to https:// www.indiaretailing.com/ category/shoppingcentre for more features, analyses and opinions.

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