Survey: Consumer Sentiment, Behaviour & Festive Season Sale Comparisons (2019-2020)
The pandemic is rewriting the rules of retail globally and the Indian Shopping Centre Industry is also feeling the heat. After a long period of 8 months, when the market had slowly started reviving, a new mutation of the virus and a spike in cases plus partial lockdown in Maharashtra rendered the situation gloomy again. Nonetheless, there have been learnings from past experiences and mall developers as well as retailers are hopeful of better days in the future.
Shopping Centre News recently conducted a survey on ‘Consumer Sentiments, Behaviour and Comparisons of Sales in the Festival Season (2019-2020)’ to ascertain the exact situation of the Indian Shopping Centre Industry on ground. 35 shopping centres pan India (including from Tier I, II & III cities), participated in the survey and the results were quite overwhelming.
The survey analysed details of how shopping centres have been performing since the onset of the festive season post-Lockdown (from October to December 2020), specifically gaining insights on sales, footfalls, dwell time, conversions, consumer demographics and out-of-the-box retail innovations, etc. as compared to the same period in the previous year.
The survey found out that the festival and wedding season saw consumers finally coming out of their homes to shop in shopping centres in good numbers. Despite this, there was a decline in footfalls by 53 percent in comparison to the festival season in 2019. The survey also revealed how the pandemic has led to the exaggeration of existing challenges and how the sector is embracing technology and stressing on enhancing consumer experience to attract more footfalls.
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.