Shopping Centre News - April 2023

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Organised Retail Sales Volume Continues to Grow…
A recent report from CRISIL states that shopping mall operators are expected to earn 7-9 per cent higher revenue during this fiscal, which is very explicit news for the industry. The graph is going upwards, due to the strong retail consumption and improved rentals in the malls. This means that the tantamount growth in revenue will be on a high base of FY23, which will be expected to be around 125 percent of pre-pandemic or fiscal 2020.

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.

Shopping Centre News Magazine Description:

Shopping Centre News magazine – launched at the India Shopping Centre Forum on March 18, 2008 – is currently in its 11th year of publication. In its decade+ journey, the publication continues to thrive as a knowledge resource center that collects, analyses and disseminates information on the rich Indian shopping centre industry.

The mission of the magazine is to encourage the development and spread of sophisticated management paradigms and maintenance methods, keeping in context global benchmarks of the mall industry. The monthly magazine also provides a body of focused research into the architecture, aesthetic and design aspects of shopping centres.

The magazine – which is the foremost, most authoritative publication for the shopping centre industry in India – is now available every month and in an all new format. It will continue to act as a bridge between the shopping centre developers and the retail community to help forge a mutually profitable relationship.

Shopping Centre News’ subscribers include everyone from CEOs, to marketing, leasing and fund managers to retailers, architects and retail designers. For those who want to keep up-to-date across the latest developments and events in the world of shopping centres, the magazine is a must-subscribe.