The beginning of the year 2020 saw a remarkable opening for the shopping mall industry. Industry experts predicted a smooth journey ahead, mall developers were bullish on the growth potential of organised retail keeping in mind the flourishing economy and industry experts including ANAROCK had predicted the launch of around 100 new malls spanning over 49 million sq. ft. pan India by the end of 2022. Then the pandemic hit, and it was pandemonium all around.
The subsequent global lockdown, shutdown of all economic activities threw the Retail and Shopping Centre industries into chaos. The growth scale became imbalanced in a matter of weeks and all predications were disproved.
Needless to say, therefore, that mall supply was severely impacted by the pandemic and the future of many upcoming malls/projects still remains ambiguous. In the COVID era, only 5 malls came up in India, in Gurugram, Delhi, Lucknow and Bengaluru, covering an area of around 2.75 million sq. ft. Mall developers in other Tier I, II & III cities and towns, unsure of what lies ahead, have yet to announce any launch dates.
As a result, many reached a dead end and were stopped permanently. Mall developers with more reputed brand images and brand values also suffered but managed to overcome this period with limited resources.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Leading The AI Revolution In Retail
As a leader in AI-driven retail intelligence, Sadique Ahmed, CEO, Pathfinder, understands the power of technology when it comes to improving and personalising the shopping experience for all.
Flipkart Deployed Over 10,000 Electric Vehicles in the Delivery Fleet
E-commerce major Flipkart on Monday said it has deployed over 10,000 electric vehicles (EVs) in its delivery fleet as part of a phased integration of EVs in the last mile delivery over the past few years.
Trent Q2 Profit Grows 47% to 335 Cr
Tata Group retail firm Trent Ltd. reported a 46.9% growth in its consolidated net profit to ₹335.06 crore for the second quarter ended September 2024.
Zomato, Swiggy Hike Platform Fee in Certain Cities Amid Festive Season
Online food delivery platforms Zomato and Swiggy hiked platform fees in certain cities amid the festive season. The two rivals are now charging ₹10 as a platform fee in the national capital.
The Evolution of Retail in North India
Emerging Hotspots, the Rise of Malls, and the Impact of the Residential Property Boom on the Region’s Retail Landscape
Madan Retail: Fashion for Today's Man
With a rich legacy and a keen eye on future trends, the brand continues to innovate and expand, meeting the evolving needs of its customers
Special Events in Malls
Giant Peacock, Lotus, and Swan: Orion Malls' Festive Spectacle
Building a Retail Legacy on Efficiency
Founded by Hemant Agarwal and Rahul Jhunjhunwala, V-Bazaar began operations in May 2016, opening its first store in Lakhisarai, Bihar.
From Urban Trends to Rural Aisles
V-Mart, a pioneer in the value retail segment, was founded by Lalit Agarwal in 2003—well before value retail became a widely recognized term.
Defining Elegance
Dennison has carved a niche in the menswear market with a diverse range of formal and semi-formal pieces priced between ₹999 and ₹3,999.
