Retail real estate in India has played a primary role in setting the pace for retail revolution in the country. It was only with the launch of shopping centres that India has seen brands blooming, encouraging young entrepreneurs to launch new brands and foreign companies to foray into India…
The journey of shopping centres and malls in India is not very old. In fact, it is yet to even celebrate its silver anniversary. But then the market has matured at a rapid rate. It has seen its fair number of ups and downs. From a boom to a burst to now a slow, steady and calculated growth, the journey covered has been enthralling, filled with lessons and experiences.
Retail real estate in India has played a primary role in setting the pace for retail revolution in the country. It was only with the launch of shopping centres that India has seen brands blooming, encouraging young entrepreneurs to launch new brands and foreign companies to foray into India.
Shopping Centre News spoke with experts to learn more about the retail real estate dynamics as seen in 2018 and their forecast for 2019.
Catching Up on the Frenzy
Accentuating the potential of retail real estate, Anuj Kejriwal, Managing Director & Chief Executive Officer – ANAROCK, says, “The fact that 35 percent of luxury shopping sales come from Tier II and III cities alone is urging top brands to explore these markets.” 35 percent is no small number, especially when it is in context of the appetite of shoppers from small towns and cities to go shopping for luxury goods. This implies that these places may be facing a dearth of good retail spaces, the need of which can well be cashed upon by mall developers. So, better the options, better the sale and stronger the fight for more retail space by brands which eventually draws a full circle on the need for retail real estate space in places beyond metros and Tier I cities and towns.
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