Shopping Centre News is a bi-monthly magazine, which represents the voice of the shopping centre & retail industry in India. It is the foremost and most authoritative publication for the shopping centre industry in the country.

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Shopping centres are creating their own unique measures to combat the pragmatic competition that has arisen because of growth of e-commerce in India. While e-commerce is touted to grow mani-fold and bets big on its proposition of convenience and deep discounting, malls on the other hand, have the power of creating physical experiences for their patrons. Adopting an ‘entertainment first’ strategy is the most prominent reflection of this approach.

The idea of adding major FEC zones in malls has been gaining popularity over the last few years. Several new malls have been constructed around the country, with substantial square footage allocated to FECs. These centres can substantially extend a mall’s draw, lengthen shopper stay and even increase revenue for other tenants. Families and children are important consideration for malls because families today are seeking quality destinations that they can visit for out-of-home leisure experiences. However, retail by itself appears to no longer suffice as a draw for leisure experiences. Yes, families still come to traditional shopping centres to buy what they need, but new entertainment destinations such as urban entertainment centres and location-based entertainment centres are appearing, many with retail as a significant part of their mix. These new retail/restaurant/entertainment hybrids are capturing an increasing share of families’ limited disposable out-of-home leisure time and income.

In the cover story of this issue, we have paid ode to Indian malls that have re-invented the wheel and embraced entertainment as an important driver of relevance and profitability. Also, we have tried to do a SWOT analysis on future prospects of the FEC sector from the point of view of leading operators in this category.

This issue also contains a special focused story on ‘enhancing support services in shopping malls’. Though the equation between demand for malls and supply of space is disproportionate, it has not subdued the will of Indian mall developers to open gigantic malls across the country. With little differentiation between the brand and tenant mix, malls are coining newer and innovative ways to boost footfalls. This also calls for developing and providing support service amenities to deliver world-class shopping experiences. But, how well is this being executed? Our story explores the reality of support services in some of India’s biggest malls.

I hope you find value in the insightful and thought-provoking content in this issue. As always, we look forward to your comments and suggestions on our content and on major industry trends that are shaping the future of retail real estate in India.

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We at IMAGES are proud of functioning as a catalyst for retailers, shopping centre developers and retail support companies in the country. We do this by creating platforms of sharing, learning and gaining from each others experiences and insights. And we have just wrapped up the second edition of South India Retail Summit and the debut version of North India Retail Summit.

SIRS was held on December 13, and NIRS was held on December 15 at ITC Gardenia, Bengaluru and JW Marriott, Aerocity, Delhi, respectively.

These one-day forums were important regional knowledge platforms for discussions on key issues facing the retail fraternity and exchanging best practices within the industry. This issue carries detailed features on SIRS and NIRS 2016.

Also in this issue we have tried to study how retail and entertainment are two important pillars of success for any shopping centre and how they are ‘beyond separation’. The smartest retailers and shopping malls have recognised the value of experiential retailing: putting the shopper in an immersive environment and offering options that meet their lifestyle aspirations. In the cover feature of this issue, we have tried to examine this further and explore the possibilities of embedding‘retailtainment’ aspect in Indian malls.

Mall developers who understand design, ethnography, technology and relationship-building and have created a collaborative organisation, have created successful projects by segmenting themselves accordingly. In this issue, we have taken the perspectives and views of industry experts on what they have to say on the emerging science of ‘retailtainment’ and how by adding the perfect dose of entertainment to retail, they have prepared a perfect concoction for their patrons.

On this note, I wish all my friends and associates from the extended retail fraternity a very happy and prosperous new year ahead.

The post Shopping Centre News December-January 2017 appeared first on India Retailing Book Store.

Shopping Centre News is a bi-monthly magazine, which represents the voice of the shopping centre & retail industry in India. It is the foremost and most authoritative publication for the shopping centre industry in the country.

The post Shopping Centre News Mapic Special-November 2016 appeared first on India Retailing Book Store.

India’s leading retailers, shopping centre developers, realty consultants, analysts congregated in Mumbai for two days at IRF 2016 in September to take stock of the retail and retail real estate sectors, and determine if a radical change in approach is required for this asset class.

In this issue of Shopping Centre News, we have covered the discussions, perspectives and viewpoints of the speakers and analysts on the opportunities and challenges related to the retail realty sector and how some old ideas no longer work.

Over the last decade, the unprecedented growth of consumption in India has driven an explosive expansion in retail and retail real estate industries. As the fastest growing major market of the world, India today is not just an extremely attractive investment destination for retailers and consumer brands, but is also a highly dynamic marketplace.

As a result, Indian retail real estate has moved very quickly forward from 1999 to 2016, evidenced by the steep climb from just two to 720 malls today. However, equally striking is the vacancy levels in many of these properties — 17 percent on an average. In poor grade malls, average vacancy is at 43 percent, as JLL’s Anuj Puri said at IRF 2016. While in 2008, there were 108 developers working in the retail real estate space, in 2011, that number went down to 66 and in 2016 the country is left with only 25 mall developers. If this trend were to continue, only a dozen shopping centre developers will be in existence by the year 2020.

As you will read in our Cover Story, at the heart of the lack of analytics- led strategies in shopping centres is a fundamental flaw in developers’ approach — the fact that most continue to treat shopping centres as real estate properties rather than a distinct asset class. Unless mall developers imbibe a real understanding of retailing as a business, they will fail to optimise the value of data-driven differentiation. A more educated comprehension of retail will ensure that malls in India move beyond positioning themselves as shopping haunts, and it is critical that they do — because the consumer has moved on to lifestyle experiences. Of which, shopping is just one component

The post Shopping Centre News October-November2016 appeared first on India Retailing Book Store.

The Indian retail market is booming dynamically owing to the entry of several new players. Likewise, Indian retail real estate sector has scaled unprecedented growth over last few years, largely driven by robust economic growth, rapid urbanisation and changing lifestyles of Indian patrons. Although, e-commerce is spreading its wings but scouting for quality retail spaces has not diminished; in fact, the demand has only increased.

In this issue of Shopping Centre News, the cover feature highlights the top trends that are ruling retail real estate market in India despite of growing dominance and temptations of e-commerce. The story also comprises niche retail malls which have done something extra ordinary to enhance the consumer experience. I hope this will be an interesting read for you all.

Another feature in this issue titled ‘Food Court – Lifeline of a mall’ throws light on how food courts are reinventing to accommodate international QSRs and improving overall mall experience for consumers.

The Article on the emerging category of Specialty malls and how they are creating a difference in shopping malls comparing regular destination malls will also intrigue the readers. At the same time, I am sure that the gist of the report by JLL India on Indian Retail Real Estate will also be able to catch your attention.

We hope that you will like this issue of Shopping Centre News magazine and in future we plan to bring more informative and educative articles for you. With this, I also take the opportunity to welcome all of you to the magnum opus retail event of our country, India Retail Forum (IRF 2016), which will take place on 21–22 September 2016, at Renaissance Hotel, Mumbai.

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I am extremely happy to inform our readers that 9th edition of India Shopping Centre Forum 2016 was well celebrated. The two day event at The Renaissance Mumbai was based on the theme ‘Shaping the Thinking on the future of Retail Spaces’. The speakers at the conference included India’s top notch developers, retailers, independent observers and international experts who have created a distinguished place for themselves in Indian retail real estate sector. Our cover feature of this issue carries a detailed coverage on that. I am sure readers will find it interesting.

This year the mission of India Shopping Centre Forum was to build the blueprint of success for the Indian shopping centre industry through sharing of best global concepts and implementation of world class practices. Highly informative discussions at the forum were loaded with in-depth analysis of all the issues that this industry is facing and predicted the trends for future. The solo sessions by industry experts were focused on areas of research, planning, funding, architecture and design, tenant mix, leasing and all other aspects of retail real estate business. The knowledge series finally culminated with gala awards ceremony which was attended by who’s who of the industry.

Technology in malls is a new phenomenon and soon we will see automation in malls too! We are certain that India will be considered amongst the top countries to have leading malls in the world in the times to come! We hope that this dream of ours will be realised soon.

I would once again like to express my sincere gratitude to all participants of ISCF 2016 for making it a success. I do hope and anticipate the same cooperation in the years to come.

The post Shopping Centre News June-July 2016 appeared first on India Retailing Book Store.

It gives all of us at IMAGES intense satisfaction to be an actively contributing in catalysing the development of retail and retail spaces across the country. At the forefront of our efforts in the Retail Space arena we host the annual India Shopping Centre Forum (ISCF). I am extremely privileged to warmly welcome all to the 8th edition of India Shopping Centre Forum(ISCF) which will be held on the 11th and 12th of May at Renaissance, Mumbai. This me too, the event will be graced by all stalwarts from retail real estate.

Significantly, with today’s shopper being spoilt for choice within the comfort of their homes through digital commerce, shopping centres need to reposition themselves as social spaces with leisure and entertainment being as important as the retail component. The new shopping centres need to evolve out of solutions linked to spirit of ‘wowing’ the customer. India Shopping Centre Forum 2016 will bring together businesses and professionals connected to the en re shopping centre design, leasing and management value chain to build strategies and partnerships and deliver superior shopper experiences in alignment with new technology and consumer behaviour paradigms.

In line with the broad sentiment, the cover feature of this issue of Shopping Centre News titled ‘Shaping the Thinking on the Future of Retail Spaces in India’ attempts to give a comprehensive overview on how malls are evolving themselves to gear up for the digital area as we stand at its threshold. The story also sheds insights on emerging concepts that will enhance mall experiences, especially with the non-shopping experience now coming to the fore.

In the issue we also analyse the recent clarifications in FDI regulations for ecommerce from the perspective if the impact on Indian malls. We also touch upon topics that are top of mind with both mall developers and dwellers. Please do read the feature on F&B trends that will be the game changers for food category at malls. Also included are several exclusives including a conversa on with DLF Mall of India. We hope that you will find this issue of Shopping Centre News both useful and informative. We once again welcome you to India Shopping Centre Forum 2016 and look forward to meeting you there.

The post Shopping Centre News April-May 2016 appeared first on India Retailing Book Store.

Malls have created their own unique measures to combat the pragmatic competion that has arised because of growth of e-commerce in the country. While e-commerce is touted to grow many-fold and bets big on its proposition of convenience and deep discounting, the malls on the other hand has the power of creating virtual delight for their patrons. The out-of-the-box idea seems to have clicked well with malls and both malls and their retail tenants are creating USPs to keep the mall visitors hooked. Be it the festival theme marke ng ac vi es that the malls are doing– to creating uniqueness in the design aspect– to making their malls ‘entertainment’ first. Malls are creating weekend bazaar or fl ea markets, this is to give the unique theme based experience to the mall visitors. In the constant chase to win customers, the new-age malls with ample courtyard space are trying to figure out new strategies and re-invent the wheel. In this issue of SCN we have paid an ode to these new age Indian malls those who have reinvented themselves and have emerged more successful rather than succumbing to the onslaught brought by the ‘e’commerce.

Apart from the intriguing cover story on how events, initiative and mall promotional activities are helping the malls to stay at the top of the game. In this issue, we also have a special focused story on the retail realty analysis for the year that went by and the trend forecast for the year that is ahead of us. In this feature story, we have spo ed early signs of trends that will shape the future of mall industry in the next few years.

With these insightful and thought-provoking stories, we hope that you find this issue of Shopping Centre News useful and informative. We will try and churn out more interesting and innovative articles in the forthcoming issues of the magazine.

The post Shopping Centre News February-March 2016 appeared first on India Retailing Book Store.

Shopping Centre News is a bi-monthly magazine, which represents the voice of the shopping centre & retail industry in India. It is the foremost and most authoritative publication for the shopping centre industry in the country.

The post Shopping Centre News December-January 2016 appeared first on India Retailing Book Store.