2017 turned out to be a remarkable year for the Indian Shopping mall industry. The year witnessed the highest supply of shopping space across the country in more than a decade. More than twenty malls became operational in this period, with the Southern part of India witnessing the major chunk of growth in shopping space.
The Indian retail real estate industry is gradually maturing and moving towards the next wave of evolution. A lot of credit for this goes to the shopping centres, which have in a short span of time changed the entire shopping culture of the country both in urban and semi-urban areas. Privatisation and arrival of international brands, in-store technology and innovative services are slowly turning consumer experience on its head, and converting shopping centres into smart malls.
Indian malls are also slowly donning a new avatar – that of community hubs, offering events, activities and leisure zones for entire families, apart from shopping.
In our December-January year-ender issue of Shopping Centre News, we bring you a comprehensive list of what the best malls did this year to connect with their shoppers, lure new consumers and convert them into loyalists.
We spoke to the heads of leading shopping malls across all regions to know how they are generating footfalls amidst increased competition from e-commerce portals and other digital shopping platforms. We also took a look at the practices are they adopting to provide a more specialised shopping experience.
Apart from this, the issue brings you a look into the works of Abhishek Bansal, Executive Director, Pacific India and Benu Sehgal, Head – Retail and Marketing, Ambience Mall– two of Delhi’s most premium malls. We give you an in-depth look into the journey of their malls, the innovations and the roadmap for the future.
We also bring you two masterclasses from Stuart Rough and Jonathan Yach, who emphasise on creating shopping centres that provide consumers with superior experiences.
We hope you find this issue informed and beneficial. We wish you a very ‘Happy New Year’ and look forward to renewing our relationship with you in the coming year.