Indian Malls Selling Experiences: Taking CX To The Next Level. The August- September issue of Shopping Centre News takes a look at malls which are doing something exceptional and have something exclusive to offer to its patrons. These unique, new-fangled trendy retail concepts add the wow factor for shoppers and keep them coming for more.
 
Besides this, the issue brings it, readers, some of the most inspiring stories of turnaround success in India’s mall industry. The industry’s biggest names share how they steered their companies through tough times and emerged victorious, giants in the shopping centre industry. The story takes a look at how the new avatar is working towards substantially extending a mall’s draw, lengthening shopper stay in mall and increasing footfalls and sales for brands and retailers.

Here’s to the Facilitators of Shopping Centre Success

Making a shopping centre popular and profitable is hard work. It is also  teamwork. To get the leasing strategy, the tenant mix and zoning right requires expertise. And while malls usually have skilled teams onboard, sometimes bringing an external facilitator is required. Enter real estate consultants.
With their depth of analytical skills, industry knowledge, contacts and experience, consultants sometimes prove to be the magic ingredient for success not just for mall developers but retailers as well. After all, the shopping centres are a collective business

IMAGES Group recognises the contribution made by these professionals to the shopping centre industry. From finding the right tenants to helping turn around a flailing centre and working with brands and retailers to create magic for customers, consultants add tremendous value to the retail real estate ecosystem. In this edition of Shopping Centre News, we feature some of the leading and reputable real estate consultants in the business of shopping centres. The edition carries an exclusive feature talk highlighting the journey, challenges, aspirations, vision and goals of these professionals.

Leasing Heads: The Agents of Shopping Centres Success

The success of a shopping centres greatly lies on meticulous leasing with a well-planned zoning, tenant mix and offerings to target customers among other parameters. Leasing is a very delicate business, and it is very important to understand the key components of a lease transaction.

Therefore, the in-charge of leasing in a shopping centre plays a significant role in achieving the goal. His/her ultimate experience and aim offers a great valueto the guests at the shopping centre with maximum value and convenience. And, also helps to achieve higher conversions and thereby, better and higher sales for the tenants.

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.

Retail Leasing Activity Escalates Across Malls in Tier I Cities

Retail leasing activity in shopping centres has actively increased by 5% from the previous half-year 2.43 million square feet in the second half of 2022, states a report by CBRE. This indeed is very welcoming news for the industry, as we are witnessing heightened activities and customers are seen to be thronging again to malls.

There is a significant rise in footfall and improved occupancy of 94% in established Grade A malls across major cities, which has also caused rental values in malls to appreciate predominantly in cities like Bengaluru, Kolkata, and MMR. The commercial edifices have been replaced by newer, better ones as the number of those looking to rent retail space has gone up. The total supply in 2022 touched 20.9 million square feet. The majority of this space take-up was led by domestic occupiers.

Bharat Ruled Retail Real Estate in 2022

The new report from CBRE claims that retail leasing grew by 21 % Y-o-Y in 2022 to 4.7 million sq. ft in 2022. The supply in 2022 stood at 1.4 million sq. ft. Overall, Bengaluru and Delhi-NCR had a major share (61%) in leasing activity in 2022, while Chennai, Hyderabad, and Pune had a 9% share each. The key sectors that drove leasing activity in 2022 were fashion & apparel, food & beverage (F&B), hypermarkets, homeware & department stores.
The evaluation is a much-needed boost for the industry as we enter the new year with fresh goals, hopes renewed energy and positivity. Once again, the industry will have certain promises, goals and missions to take on. Re-building the consumption story of Indian retail is one of them and shopping centres will play a very significant role in this journey.
Going forward, we expect retail leasing to gain traction in Tier II, III, and even IV cities as retailers and landlords are looking to leverage the purchasing power of these towns and cities. Big real estate players and mall developers are reaching out to these cities for their projects in large numbers. Even the international retailers and brands are launching their stores in these upcoming malls.
In this first edition of 2022, we also bring our readers an exclusive interaction with the captains of shopping malls across India. They speak about how they are eyeing growth this year, what their strategy to stay closer to the customer is and how they are implementing technology and learning from the past year to make this year count.
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. Happy reading and wish you all a happy and profitable 2023.

Festive seasons have always acted as catalysts in boosting sales and footfallsfor shopping centres. As September marks the beginning of the festive season in India, shopping malls and retailers are once again betting on sales to surge by 15-20 per cent in comparison to last year. The 2021 festive season turned out to be a lifeline for the retail fraternity, as it saw many malls and brands reaching the pre-pandemic level, in terms of sales and revenue.

Adding more to the positive news, the recent report from Knight Frank India announced that 15.5 million sq. ft. of retail space has been added across 16 malls since Jan 2020. Retail sales in Indian malls across the top 8 cities grew at a Compound Annual Growth Rate (CAGR) of approximately 3% to reach USD 8 bn in FY 2022 while in FY 2023, the potential consumption is estimated to surpass the pre - COVID-19 levels 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.

All we can say is that this year has been going to be extra special for the retail ecosystem and each and every brand across categories and domains is gearing up to welcome the new-age customer with o􀆦 ers, discounts and their enhanced collections. Phygital Retail Convention (PRC) 2022, turned out to be a milestone for the IMAGES Group, as we once again successfully created the platform, nurturing a successful relationship between retailers and shopping centres. And now, in this edition of Shopping Centre News, we bring you the highlights from the Grand Finale session of PRC 2022.

Buzz in the Malls
Monsoon brings cheer to shoppers, retailers and malls alike. The End of Season Sale (EOSS) beginning July has given indications of strong consumer interest across all lifestyle categories like apparels & footwear; cosmetics, jewelry & watches and even electronics, home and hobbies, resulting in good footfalls and sales in shopping centres in all parts of India. All in all, the monsoon (sale) season has been a very rewarding period for the retail fraternity.

Adding more to the good news; driven by pent-up demand, high vaccination coverage and resumption of multiplexes, retail malls have witnessed a sharp recovery in their operational metrics in the last few quarters. An analysis from ICRA reports that almost every single retail division has reached the pre-covid levels in Q3 FY2022 and surpassed the pre-covid trading values in Q4 FY2022. The Q3 Fy2022 is also indicating that shopping malls are touching the footfall mark of pre-Covid levels. The rental income improvement has also seen a surge of 74% (Q2 FY2022).

This indeed is a very encouraging update for the industry which is still recovering from the pandemic debacle. On a samestore basis, the rental income is expected to increase by around 30% in FY2023 and is likely to surpass FY2020 levels by around 4%-6%. With the normalcy in the trading values, the occupancy is expected to improve in FY2023.

Consumer Experience is the Key

Shopping activity has rapidly picked up with offices and social activities resuming in full swing. The industry is expecting, FY2022-23 to be extremely good for the shopping malls, retailers and brands across categories . Consumers are loving to visit malls and markets to shop new-season collections to refresh their outdated wardrobes and homewares and also for outdoor dining & entertaining experiences. An accelerated rebound in footfalls and occupancy is being witnessed and consumption has surpassed pre-pandemic levels. The business has bounced back in a healthy fashion and the pent-up shopping experiences that consumers had missed during the pandemic have been observed.

Going ‘Omnichannel’ became an integral part of strategies of all successful brands and retailers across the globe during this pandemic period. Shopping centres too are partnering with their tenants to give a cohesive user experience to consumers at all touchpoints. Many mall owners are today proactively adapting properties to generate growth in today’s ommnichannel era. Omnichannel allows retailers to achieve more availability, drive sales and trafic, and integrate digital touchpoints. An omnichannel retail strategy improves the customer experience and providesmore channels for customer purchase––whether it is on mobile, web, or in stores.

Serving Customers Profitably tably
Nurturing a successful relationship between retailers and shopping centres is a common goal to serve customers. However, this is a huge challenge, as it has various parameters to deal with. Tenants and shopping centres need to have a clear vision and a strong will to serve this core purpose.

The success of a business relationship lies in the development and growth of trust and commitment among the role-players. In the world of retail today, trust is more important than ever, especially when it comes to relationships with clients, retail tenants, employees, and all stakeholders of a business.

From retailers’ perspective choosing the right shopping centre and for shopping centres choosing the right brand, is crucial to build a valuable proposition for all stakeholders on the ground of trust. Therefore, it is critical that both parties do their homework right before signing a lease agreement.

Leveraging Technology and Consumer Experience to Rejuvenate the Future of Malls

The future of retail real estate is as robust as the industry’s imagination and its ability to connect buyers to their individual and collective values and aspirations. The competitive environment is changing, forcing us to rethink all our assumptions about the industry, from how many and what kind of tenants the shopping centres need to house and how large the infrastructure must be in order to be successful. How to select the right location to build the mall, the selection of right anchor stores and the necessity of incorporating nontraditional elements such as housing, entertainment, and healthcare into mall design.

To succeed in the future the industry needs to think like the customers it serves. For example, customers never think in terms of channels. Instead, they are task-oriented, always looking for the most economical and efficient way to complete their tasks. New Normal is helping retail grow at every turn and it is very promising to see how brands are responding to the changes today.

Talking about all these important aspects, and to mark the eventful growth story and positive resurgence of the shopping centre industry, IMAGES pompously hosted the second edition of Shopping Centres Next 2022, at the Grand Hyatt (Goa) on May 12, 2022. The on-ground mega event brought the entire shopping centre ecosystem to discuss, deliberate, and share exclusive knowledge, and actionable strategies on how to build, operate, and scale profitable shopping malls in India.

Shopping Centres & Retailers Partnership to Providethe Mandatory Boost for Consumption

The fi rst quarter of 2022, so far has been quite optimistic and fruitful for the
shopping centres pan India and this is a very good news. Retail is all about
consumers, changes and innovation and the shopping centre industry is the
key driver of consumerism in India. My belief is that modern retail drives
consumption and that malls are pillars that power this drive seamlessly.
However, I also believe that consumerism in India has not scaled up to the
level it could have gone up to and the onset of the pandemic stunted this
growth on a global scale.
Ever since the pandemic happened, the industry has witnessed so many
struggles and we have overcome all that in the last few months. The threat
of the fourth wave of the pandemic, is another challenge ahead of us. The
situation currently is not that worrying but going by the experiences of
the past, the industry understands, the restrictions and curfews won’t be a
happy state for the malls.

100 Edition of Shopping Centre News

With its March 2022 edition, Shopping Centre News has reached a historic milestone- 100th edition. Truly a notable milestone and it gives us a chance to look back with a lot of pride to see how far we have come in all these years touching new heights at every juncture. It has been a truly humbling experience and the journey we have traversed so far actually motivates us to look ahead with a lot of hope.

In 2008, Shopping Centre News was incepted with a vision that was far reaching, to create a magazine that is a knowledge resource centre which collects, analyses and disseminates information on the Indian shopping centre industry in all aspects of operations.

WhatsApp and SMS Marketing add strength to Digital Campaigns of Shopping Centres

The marketing of a retail shopping  centre is critical in helping the overall property performance and help tenants thrive in terms of bringing in customers and making profitable sales. The marketing plan not only describes the strategies that the mall management will deploy to attract and retain tenants but also to bring in more and new shoppers to the centres.
Ever since the pandemic, the shopping centres had to suff er a lot. As things are improving, the mall developers are once again back to their drawing boards and are restrategising their marketing plans to get out of the crisis in hand. A storm of global trends hitting overall sentiments at the same time is now the cause for the centres/ malls to change the role they play in people’s lives. No longer shopping or discounts or events are the primary factors.

Shopping  Centres and Retailers to Collaborate to Build India’s Consumption Story

Retail is all about consumerism and the shopping centre industry is the key driver of consumerism in India. My belief is that modern retail drives consumption and that malls are pillars that power this drive seamlessly. However, I also believe that consumerism in India has not scaled up to the level it could have gone up to and the onset of the pandemic stunted this growth on a global scale.

Ushering in the New Year with lots of positivity, hopes, renewed energy and prospects, we are eyeing retail real estate in a new way. In this year, once again the industry will have certain promises, goals and missions to take on. Re-building the consumption story of Indian retail is one of them and shopping centres will play a very signifi cant role in this journey. In this fi rst edition of 2022, we bring our readers an exclusive interaction with the captains of shopping malls across India. We wanted to know how they are eyeing for growth this year, what their strategy to stay closer to the customer is and how they are implementing technology and learning from the past year to make it count this year.

Malls Report Higher Conversion & Revival Rates in 2021

The year 2021, marks another successful yet demanding year for the shopping centre industry. In comparison to 2020, the year was fully under the infl uence and threat of the pandemic. Shopping centres became Omnichannel and included digital innovations in their portfolio. Yes, malls becoming phygital has become a reality in India. Every mall took decisive steps in raising their digital and innovations bar. Mall developers also embraced feedback more and more from the retailers on how the current shopping centres need to embrace the phygital element, as well as their inputs for all future shopping centre developments.

Yet again the festival season turned out to be a saviour for the shopping centres and the mall developers in 2021 as well. Most malls reached the 100 per cent recovery mark during this season. The opening of cinema and multiplexes in the later half turned outto be another huge achievement. Fortunately, while the beginning of the year posed a setback for the Indian economy, the end saw a lift in business and revenues, indicating a new hope, a new dawn and a new vision for the industry in the new year.

Aligning Shopping Centres and Retail with New- Age Connected Consumers

In the current scenario, it is very important to understand how retailers, mall developers, and tenants can work together to create destinations and experiences that reflect today’s buyer behaviour? As things stand, tenants and mall owners will need to rethink traditional partnership models to cooperatively drive new lifestyle, social, and retail off erings. Across all important verticals, occupiers and retail real estate leaders must work together to generate customer confidence, co-create digital triggers, drive demand, and re-energize toplines.

For a long time, much has been talked about ‘experiential’ shopping spaces, and now the time has come to evolve them to ‘phygital’ spaces. Mall developers are embracing feedback more and more from the retailers on how the current shopping centres need to embrace the phygital element, as well as their inputs for all future shopping centre developments. After all, nobody has their ears closer to the shopperthan the retailers – the big box retailers, the boutique stores, as well as the online retailers. It is only with their constant feedback and inputs that developers can create the right mix of shopping spaces.
With great pleasure and pride, we inform our readers that the second edition of Phygital Retail Convention (PRC) held at Hotel Renaissance on November 10-11 was a huge success. It was quite fascinating to see Indian retail and the shopping centre industries celebrating a triumphant return to the on- ground mega industry gathering.

Aligning Shopping Centres and Retail with New- Age Connected Consumers

In the current scenario, it is very important to understand how retailers, mall developers, and tenants can work together to create destinations and experiences that reflect today’s buyer behaviour? As things stand, tenants and mall owners will need to rethink traditional partnership models to cooperatively drive new lifestyle, social, and retail off erings. Across all important verticals, occupiers and retail real estate leaders must work together to generate customer confidence, co-create digital triggers, drive demand, and re-energize toplines.

For a long time, much has been talked about ‘experiential’ shopping spaces, and now the time has come to evolve them to ‘phygital’ spaces. Mall developers are embracing feedback more and more from the retailers on how the current shopping centres need to embrace the phygital element, as well as their inputs for all future shopping centre developments. After all, nobody has their ears closer to the shopperthan the retailers – the big box retailers, the boutique stores, as well as the online retailers. It is only with their constant feedback and inputs that developers can create the right mix of shopping spaces.

Shopping Centres Next 2021: A Long-awaited Industry Brainstorm
With great pleasure and pride, we inform our readers that the inaugural edition of Shopping Centres Next on September 1-2 in Goa was a huge success. It was quite fascinating to see India’s shopping centre industry celebrating a triumphant return to the first on-ground mega industry gathering in over 18 months.

The two-day event was attended by more than 200 industry experts, shopping centre developers, retailers and analysts, following all COVID guidelines and protocols mentioned by the government. Marking a tremendously positive resurgence from the challenges of the past year, the event themed on ‘Creating India’s Next-generation Social Spaces’, refl ected the innovations that developers and retailers must embark upon to reinstate unique visitor lifestyle experiences that only physical spaces can off er.

The event had masterclasses, roundtable discussions, sessions and conferences which was a learning experience for the new attendees and the ones who had been a part of such programs in the past. Omnichannelisation of shopping centres along with the infl uence and impact of technology and digital upgradation were the main topics of discussion and most shopping centres talked about their innovations and achievements in this area over the past two years. The September edition of Shopping Centre News magazine highlights the key elements of the event.

Shopping Centres Embark on Cautious Return to Normalcy
India’s shopping centre industry is making a positive return to new-normalcy. Malls are fi nally open, and customers sentiment is looking up as well.
For shopping centres in North and East India, the lockdown was for a shorter period and malls resumed operations partially from June, but for West and South, the period was a prolonged and painful one. Malls in Maharashtra finally got the green signal to open, after a long period of 4 months and therefore this time the approach is a very cautious one. No one is in a hurry to celebrate and neither have they let their guard down. The industry has been enduring unprecedented pressures since April 2020, and with the threat of a third wave looming, malls are preparing themselves to face a new set of challenges, trends and consumer behaviour.
The August edition of Shopping Centre News talks about how shopping malls are analysing and preparing new strategies. Malls are pushing for the vaccination drives and are encouraging the visitors along with their staff and employees to get vaccinated. Adding more to this, centres are also conducting robust digital campaigns/ sales/ services to reach out to their consumers in large numbers.

Small-town Shopping Centres Adapt to New Realities
For shopping centres pan India, the struggle and uncertainty phase is still on. Some cities are doing very well in terms of business as shopping malls along with cinemas, gyms and entertainment zones are allowed to open.Keeping safety and health concerns in mind, consumers are coming out not only to shop but are only utilising the entertainment and dining services as well. However, there are cities where malls are still shuttered, and that
is making things very tough for developers and the retailers present in those centres.
Adding more to this situation, leading retail brands across all categories are zeroing in on high street markets and Tier II cities for expansion across India. This was fi rst reported by Anarock and even experts from the industry believe that this situation is temporarily pushing malls to the backseat.
The July 2021 edition of Shopping Centre News brings our readers an analysis of how malls in Tier II cities are preparing themselves to deal with this challenge. The issue addresses how malls are responding to and dealing successfully, in an organised manner, with new learnings, SOPs, safety measures, and retailers’ response to changes in consumer behaviour.

Readying to reboot, again Despite the devastating blow India received at the start of the current fi nancial year, shopping centre developers have remained resilient and hopeful of better days to come. Many utilised their spaces to aid communities, while others upped their digital games to continue shopper engagement.

Businesses and startups in retail and consumer tech also worked overtime to ensure customers did not have to face challenges similar to ones they had to face in 2020. Organising vaccination drives by shopping centres also went some way in lifting the morale of theconsumers.

The June 2021 edition of Shopping Centre News brings to our readers an analysis of how shopping centres are once again preparing themselves with the ‘New Normals’ to counter the pandemic and welcome their shoppers with double fervor. Despite this excitement to see consumers back in the mall, shopping centres are under tremendous pressure, as theycontinue to deal with huge challenges and burdens, related to revenue, losses worth crores and are in need of fi nancial support both from the Government and fi nancial institutions. The issue addresses how malls are responding to and dealing successfully, in an organised manner, with new challenges, learnings, SOPs, safety measures, and retailers’ response to change in consumer behaviour.

Pausing for Digitalisation

As things stand, India’s mall developers have little choice but to wait until the ongoing disruptions lower in intensity and government-mandated restrictions are eased. The only good news for them is that caseloads continue to decline in most parts of India, and some state governments are mulling cautious re-openings from the first week of June.

Shopping centres in Delhi and Mumbai have been locked down for more than a month and malls in other parts of India will reach similar time frames in coming weeks. However, regional lockdowns in 2021 have been less severe in terms of restrictions and as a result, shopping centres were able to initiate measures to interact and engage with shoppers.

Thanks to the lessons of 2020, most malls were somewhat prepared for the restrictions this time around; many shopping centres gave up their retail spaces to anchors and vanilla tenants off ering essential services.

Also, opening up more restaurants with take away services, was the other sector which came into limelight. Additionally, malls in Mumbai and Thane off ered ‘drive-through’ vaccination centres in their premises and this became a trend for other cities as well. Shopping centres in Delhi NCR, Kolkata and Bangalore also followed this move to maintain their relevance, despite a tough business environment.

Yet Another Test of Resilience Begins

After witnessing a historic turnaround in the last five months in terms of business and revenue, it is disheartening to see the shopping centre industry back to similar circumstances in a matter of a few weeks. February and March saw almost every mall reaching a business level of 80 percent and was looking towards the recovery after facing losses worth of crores in 2020. The pandemic fear is back as there is a huge increase in the number of active cases and the shopping malls and non essential retail outlets are shut once again.

The State Governments have imposed 15 days lockdown and weekend curfews in most of the Tier I cities, with Delhi, Mumbai, Bengaluru feeling the maximum heat. In this adverse situation, when things are totally out of hand, various retail organisations along with SCAI and RAI and mall developers are looking forward towards the Government for support, to keep the infrastructure of the business running.

Shopping Malls will Cast their Magic in 2021

In the last few weeks, there has been a spike in the number of COVID cases. Despite this, the enthusiasm of the retail industry has been very high and the industry has decided that this time, it’s not going to bow down to the pandemic threats. The business of shopping centres has witnessed a fantastic revival despite the threat of COVID in the last two months.

Overall the month of February has been a happy hunting space for the mall developers and the retailers. As per a survey by RAI, the retail industry’s business achieved 93 percent of the pre-COVID sales in February with consumer durables and quick service restaurants showing a growth of 15 percent and 18 percent respectively. Malls witnessed more footfalls and conversion rates. The dwell time has also gone up as cinemas and FECs have opened up and consumers are coming out of their homes, finally. So far, 2021 has been good for the industry, with more optimistic and constructive news pouring in from around the country.

The cover story of March 2021, brings to our astute readers, how mall developers are optimistic about this year to bring back the good old days of retail, entertainment and dining at the malls. Going by the response received by the majority of the malls since their reopening, it is no understatement to accept that revival of the mall business is on the right track. From visiting the malls for shopping to simply looking at malls as a destination to spend time together with friends and family, people have been visiting malls and shopping centresas they would during the pre-COVID days – long queues at billing counters of major department stores and brands bear testimony to the fact as also the opening of a plethora of new stores, both at the national and regional levels.

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.

Malls, Retailers Will Collaborate to Build India’s Consumption Story

Retail is all about consumerism and the shopping centre industry is the key driver of consumerism in India. My belief is that modern retail drives consumption and that malls are pillars that power this drive seamlessly. However, I also believe that consumerism in India has not scaled up to the level it could have gone up to and the onset of COVID-19 stunted this growth on a global scale.

But 2020 is over and as we enter into a new decade, we have certain promises, goals and missions to take on. Re-building the consumption story of Indian retail is one of them and shopping centres will play a very significant role in this journey.

Moving towards a brighter, more positive 2021, IMAGES Group conducted its first on-ground event post-COVID. At the ‘Retail RealEstate Strategy Meet’, we welcomed 100 retailers and mall developers. It was an evening well spent listening to and absorbing the ideas and initiatives which top retailers and shopping centre heads came up with during and after the lockdown period to get back on the track of revival and growth.

Malls Take the Added Responsibility of Safety & Hygiene

Barring the last one year, the year 2020 marks the end of a successful decade for the Shopping Centre industry. A lot has changed for the industry in the last 10 years. The operational mall tally in India crossed the 600 mark, bringing with it, many new investors, making India the new ‘it’ retail destination. The mall culture, which was earlier only limited to Tier I cities, made successful inroads into Tier II and beyond. With better infrastructure available -near home, Tier II and beyond are no longer rushing to big cities for all their shopping needs. Cities in Tamil Nadu, Karnataka, Kerala, Uttar Pradesh, Rajasthan and Maharashtra have witnessed malls of total built up areas of more than one million sq ft (and mostly premium malls) which are comparable to world class malls.

The year also saw some of the unprecedented challenges in the form COVID-19, hitting the industry very hard. As shopping malls witnessed a shutdown for a period of seventy days and more in some cases, mall developers faced grave difficulties in every aspect –including renting, leasing, manpower, job loss and resources.

Virtual & Contactless Technology To Lead Fashion Segment Revival

Fashion retail, as a segment, has been one of the hardest hit categories in shopping centres ever since the lockdown was imposed in March 2020 due to the pandemic. Despite getting a green signal to open up in the month of July, sales in the apparel and accessories segment remained below par, due to low consumer sentiment and also because shoppers only stepped out for essentials in the initial days. In such an environment, a huge decline of almost 70 percent was reported in the business of apparel, clothing, and accessories segment (including jewellery and watches) in both the stores in malls and high streets. Although the fashion segment started picking up soon after the lockdown was eased, but a large ‘working from home’ populationmeant a change in the shopping behavior of the consumer, who was now buying more comfortwear, athleisure and loungewear than formal wear, than ever before.

This shopping behaviour started returning to a more normal pace as the months rolled on with no change in the pandemic. The festive season rolled in, and retailers and mall developers were not disappointed. Every mall has so far reported good sales, moving further along on the road to recovery than ever since COVID hit.

October brings some very good news for the Shopping Centre Industry with malls in Maharashtra finally getting clearance to open their food courts in the entire state. Aside from this, cinemas and other entertainment zones inside malls have been given the green signal to re-open with 50 percent occupancy. The industry – especially the F&B sector which had suffered losses worth crores – is hoping that the next few months will signal a recovery of sorts and with the festive season approaching, the news has been a relief for the industry.

Food courts and cinemas, which contribute about 22 percent to the total revenues, have borne the brunt of the impact on operations due to social distancing and are also expected to take the longest to recover. Aside from this, people are still scared and in two minds – should they eat outside of their homes, in a public place or not? This was obvious in the fact that food courts in shopping malls were deserted in the initial phase of the re-opening.

A New Beginning: Omnichannelisation of Shopping Malls in India

The rapid spike in the number of COVID-19 cases in India has led experts to an obvious conclusion – it will take at least another retail quarter, if not more, for the effect of the pandemic to be wiped clean on the shopping centre industry in the country, and even then, the aftereffects will linger on. As a result, malls in the country will need to stay on their toes for at least another financial year to bring in business and increase footfalls. Despite the losses though, the industry has founda ray of hope to cling on to – digital innovations, technologies and opportunities. Malls today are focusing on transforming into Omnichannelunits in the hopes of attracting more consumers and setting the cash registers ringing.

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March 2022

Shopping Centre News  - March 2022

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February 2022

Shopping Centre News  - February 2022

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January 2022

Shopping Centre News  - January 2022

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December 2021

Shopping Centre News  - December 2021

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November 2021

Shopping Centre News  - November 2021

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.

1. お客様は、Magzter.com、アプリケーション、およびそのサービスの使用は単独でご自身の責任で行うことに同意します。 Magzter.com、その関連会社、従業員、サードパーティのコンテンツ プロバイダーは、サービスが完全に中断されないこと、エラーがないこと、不正行為に対して確実であることを保証しません。また、Web サイトや製品が期待または約束したとおりの正確な結果が得られることも保証しません。

11. サービスおよびすべての出版物は、「現状のまま」および「入手可能な状態」で提供されます。 MAGZTER、その関連会社、サプライヤー、ライセンサーおよび代理店は、明示的か黙示的かを問わず、商品性、特定目的への適合性、および権利侵害の非侵害に関する黙示的な保証を含むがこれらに限定されない、あらゆる種類の保証を明示的に否認します。上記を制限することなく、MAGZTER もその関連会社、サプライヤー、ライセンサー、代理店も、(I) サービスがお客様の要件を満たすこと、(II) サービスが中断されず、タイムリーに、安全に、またはエラーが発生しないことを保証しません。 III) サービスの使用から得られる情報、または出版物に含まれる情報が正確または信頼できるものである、または (IV) 出版物またはサービスの品質がお客様の期待に応えるものであること。信頼できるインターネット接続とデバイスの取得と維持については、お客様が単独で責任を負います。 MAGZTER は、お客様がコンテンツをダウンロードできないことについては責任を負いません。ダウンロードまたはサービスの使用を通じて取得したマテリアルは、お客様自身の裁量とリスクで行われ、かかるマテリアルのダウンロードに起因するコンピューター システムまたはモバイル デバイスへの損害またはデータの損失については、お客様が単独で責任を負うものとします。口頭か書面かを問わず、お客様が magzter から、またはサービスを通じて、またはサービスから得たアドバイスや情報は、いかなる保証も生じません。

2.お客様は、その情報を真実、正確、最新かつ完全なものに保つために維持し、速やかに更新するものとします。あなたは、自分のアカウントとパスワードの機密性を維持し、自分のコンピュータへのアクセスを制限する責任を負い、すべてのコンテンツとサービスの選択と使用を含む、自分のアカウントで行われるすべての活動に対する責任を受け入れることに同意します。

3. いかなる場合においても、Magzter.com、ウェブサイトおよびアプリケーション上のコンテンツの作成、制作、配布に関与する個人、団体、第三者は、契約上または法的責任を負いません。 Magzter.com の使用中または使用中にお客様に発生した直接的、間接的、付随的、特別、および結果的。 Web サイトに登録するか、アプリケーションをダウンロードすることにより、このセクションに記載されている規定が Web サイトおよびアプリケーションのすべての使用およびコンテンツに適用されることに同意するものとします。

3. Magzter からの事前の書面または許可がない限り、ここに公開されているものはすべて Magzter またはそのライセンサーの専有財産であるため、Magzter から取得したコンテンツを変更、コピー、配布、販売してはなりません。このような不正使用は、著作権法や商標法を含む適用法に違反する可能性があるため、Magzter はこれらを厳しく禁止し、そのような違法行為が証明または検出された場合は、アクセスとアカウントを停止します。また、これらの不正行為によって生じた損害についても責任を負う必要があります。出版物の法的所有者が許可する場合を除き、お客様は、サービスを通じてアクセスした出版物をダウンロードすることによって所有権を取得しないことを承認するものとします。著作権法で明示的に要求されている場合、またはサービスの機能によって許可されている場合を除き、変更、リバース エンジニアリング、公開、送信、表示、譲渡または販売への参加、派生作品の作成、またはいかなる形であっても商業的に利用または提供することはできません。 Magzter およびかかるコンテンツの所有者の明示的な許可なしに、アプリのコンテンツ、出版物、またはそれらの一部を第三者に提供すること。当社は、明示的か黙示的かを問わず、Magzter または Magzter のライセンサーの知的財産に対するライセンスを付与しません。

5. あなたは、Magzter.com が他のユーザーや第三者、またはそのコンテンツのいかなる種類の中傷的、攻撃的、または違法な行為に対して責任を負わないこと、および前述の行為による傷害のリスクは完全にあなたにあることを特に認めます。

8. Magzter は、お客様が本利用規約および Magzter が定めるその他の運用規則に準拠しているかどうかを判断する目的で、お客様が公開および入力したコンテンツを監視するすべての権利を留保します。 Magzter は、コンテンツについて決定を下し、独自の意志で削除する権利を有します。

9. Magzter は出版物の販売代理店であり発行者ではないため、Magzter は雑誌に掲載されている意見、アドバイス、声明、サービス、オファーなどを含むコンテンツに対する編集管理を行いません。したがって、Magzter は、そこで提供される情報や事実、または公式の資格に従って行動する Magzter の認定従業員以外の者がサービスを通じて利用できる情報や事実の正確性や信頼性について責任を負いません。したがって、当社には出版物に対する編集上の管理権がありません。本サービスが提供する出版物で行われた意見、アドバイス、声明、サービス、オファー、または第三者によって表明または利用可能にされたその他の情報またはコンテンツは、それぞれの著者または出版社のものであり、第三者のものではありません。マグザー。 Magzter は、サービスを通じてまたは出版物から得た情報への信頼によって生じた損失または損害に対して責任を負いません。本サービスには、他のインターネット サイトおよびサードパーティのリソースへのリンクが含まれている場合がありますが、Magzter は、そのようなリンクされたサイトで利用可能な通信またはマテリアルについては一切の責任を負いません。これらのリンクは便宜のためにのみ提供されています。サードパーティのサイトにアクセスしたり、サードパーティのサイトを通じて注文したりするときに適用される利用規約を理解するのは、お客様自身の責任です。

不快なコンテンツの詳細（プラットフォーム上のリンクを含む）

お気に入りの作品をダウンロードすれば、いつでもどこでもオフラインで読むことができます

愛する人に Magzter ギフト カードをすぐに贈り、何千ものベストセラー タイトルの中からお気に入りの雑誌や新聞を自由に読めるようにしましょう。

Gift your loved ones with a Magzter Gift Card instantly and give them the freedom to read their favorite magazines from thousands of best-selling titles.

{{magCount}}冊の人気のインターナショナル雑誌からお気に入りの雑誌を自由に選べるMagzterギフトカードを、大切な人に今すぐ贈りましょう。

Girish Ramdas は、世界的なデジタル出版ビジネスで話題を呼んでいる、ニューヨークを拠点とする新興企業 Magzter の共同創設者兼 CEO です。 Magzter は 2011 年のサービス開始以来、150 か国以上から 9,000 万人のユーザーを獲得しており、世界中の 4,500 以上の出版社から数千冊の雑誌、新聞、書籍が提供されています。彼は、印刷物、モバイル、Web 開発を含むクロスプラットフォーム出版において 25 年以上の経験があります。この期間中、彼は 3 つの新興企業を共同設立し、経営して成功を収めてきました。彼は雑誌社のデジタル化を可能にし、デジタル世界でコンテンツの収益化を支援してきました。ギリッシュは、オンライン、モバイル、出版エコシステムにおける深い業界経験により、世界中のプラットフォームにわたるデジタル コンテンツの取得、マーケティング、収益化の専門家となっています。

当社のプラットフォーム上で不快なコンテンツに遭遇した場合、当社はお客様の懸念に対処するために苦情救済ポリシーを導入しました。

Magzter Inc. (「当社」、「当社」、「当社」) は、お客様がご自身の個人情報がどのように使用および共有されるかについて関心を持っていることを承知しています。当社のプライバシー慣行の詳細については、次のプライバシー ポリシー(「ポリシー」) をお読みください。当社が運営するウェブサイトおよびそのサブドメインのいずれかにアクセスするか、当社のモバイル アプリケーションやその他のコンテンツ配信方法(総称して「サービス」) を使用することにより、概要が説明されている慣行およびポリシーに同意したことになります。本ポリシーに記載されており、お客様は、当社がお客様の情報を以下の方法で収集、使用、共有することに同意するものとします。

Magzter Inc. は、世界最大かつ急速に成長しているセルフサービスのクロスプラットフォーム デジタル ニューススタンドで、2011 年の創業以来 9,000 万人を超えるユーザーがおり、40 以上のカテゴリ、60 以上の言語にわたる数千の雑誌や新聞を扱っています。ニューヨークに本社を置く Magzter は、アムステルダム、ロンドン、メキシコシティ、チェンナイ、ムンバイ、ニューデリー、バンガロール、シンガポールに現地拠点を置いており、間もなく他の国にも拡大する予定です。 2011 年 6 月に世界的起業家であるギリッシュ ラムダス氏とビジェイ ラダクリシュナン氏によって設立された Magzter は、世界中の雑誌や新聞の出版社が自社のタイトルのデジタル版を作成し、世界中の消費者に配信できるようにします。

Magzter は、ユーザーに安全なプラットフォームを提供することに尽力しています。 Magzter は、パブリッシャーがコンテンツを配布するためのプラットフォームにすぎないことに注意してください。当社は、当社のプラットフォームで公開されるコンテンツを管理または推奨しません。当社は、発行者の行動またはそのコンテンツに対して責任を負いません。

Magzter は、コンテンツまたはコンテンツの一部が権利を侵害したために損害を被った、または費用が発生した当事者を補償する責任を負いません。 Magzter は、第三者の権利を侵害するコンテンツまたはコンテンツの一部に起因する権利侵害について、民事裁判所で法的措置を講じる責任を負いません。

Magzter は、Magzter GOLD と呼ばれる世界最大の「読み放題」サブスクリプション サービスを提供しています。これにより、デジタル読者は月額サブスクリプション料金で 9,000 以上の雑誌や新聞に無制限にアクセスできます。 Magzter はまた、アプリ向けの革新的な ezRead 2.0 機能により、世界最大の記事数を誇ります。これにより、スマートフォンや小さな画面のモバイル ユーザーは、本来の楽しみ方で雑誌コンテンツを楽しむことができます。読みやすく、素晴らしいビデオと高解像度の写真が付いています。

名前

Magzterでのコンテンツ発行に関するサポートが必要は場合は、このフォームに記入してください

 Magzter に入社する前は、Dot Com Infoway (DCI) および Galatta Media の社長を務めていました。彼の任務には、戦略的マーケティング、パートナーシップ開発、コンテンツの世界的な収益化が含まれていました。 DCI は、2000 年には 3 人だった小さなチームから、2011 年には 300 人にまで成長し、世界中のクライアント向けに Web、ソフトウェア、アプリの開発を手がけていました。

Magzterの開始以来、お客様に最高のニューススタンドテクノロジーとサービスを提供するため、世界各国の組織や機関と提携することに尽力してきました。雑誌の購読を顧客に提供したい場合や単に詳細に興味がある場合など、お気軽にお問い合わせください。Magzterはお客様のビジネスの成長を支援いたします。お問い合わせ内容について、以下の質問票にご記入ください：

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 DMCA では、元の DMCA 通知を提出した当事者が反対通知のコピーを受け取ってから 10 営業日以内にお客様に対して訴訟を起こさない場合、当社は削除されたコンテンツを復元することができます。

このポリシーは、お客様がサービスにアクセスする際に当社が収集する、個人を特定できる情報(「個人情報」) およびお客様およびお客様のコンピューターまたはデバイスに関するその他の情報の当社の取り扱いを対象としています。以下で詳しく説明するように、当社はお客様から個人情報を収集することがあります。当社はこの個人情報を、当社の製品、サービス、コンテンツ、広告をパーソナライズ、提供、改善するため、またお客様がユーザー アカウントとプロフィールを設定し、お客様に連絡し、特定の製品やサービスに対するお客様のリクエストを満たし、お客様によるサービスの使用状況を分析するため。場合によっては、当社は一部の個人情報を第三者と共有する場合もありますが、これはポイント 4 に記載されているとおりに限られます。

このタイトルは Magzter GOLD サブスクリプションに含まれています

コンテンツの品質を分析し、パブリッシャーに適切なフィードバックを提供するため

当社では、不快なコンテンツに関するあらゆる苦情に対応する苦情担当者を任命しています。

不快なコンテンツに関する苦情は、上記の電子メール アドレスに電子メールで苦情担当者に送信するようお願いします。また、苦情を申し立てる際には、以下の詳細を提供するようお願いします。

さまざまな雑誌、書籍、ニュース、雑誌および出版物関連コンテンツ (総称して「出版物」と呼ばれます) を注文、購読、配信を受け取り、これらの出版物のデジタル版を配信する機能を提供するアプリ

c.また、パーソナライズされた推奨事項を作成するために、アプリケーションの使用に関連する情報も収集します。お客様がサードパーティのアカウント資格情報を当社に提供した場合、お客様がそのような送信を許可した場合、それらのアカウント内の一部のコンテンツおよび / または情報(以下「サードパーティのアカウント情報」) がお客様のアカウントに送信される可能性があること、およびそのサードパーティのアカウントが当社のアカウントに送信される可能性があることを理解したものとします。サービスに送信される情報は、本ポリシーの対象となります。

 f.当社が収集する個人情報により、当社はお客様のリクエストに対応し、当社の製品とサービスを改善し、お客様に表示される広告とコンテンツをカスタマイズし、新製品についてお客様に連絡することができます。

は、2011 年の設立以来 9,000 万人を超えるユーザーがおり、40 以上のカテゴリと 60 以上の言語にわたる数千の雑誌や新聞を擁する、世界最大かつ急速に成長しているセルフサービスのクロスプラットフォーム デジタル ニューススタンドです。ニューヨークに本社を置く Magzter は、アムステルダム、ロンドン、メキシコシティ、チェンナイ、ムンバイ、ニューデリー、バンガロール、シンガポールに現地拠点を置いており、間もなく他の国にも拡大する予定です。 2011 年 6 月に世界的起業家であるギリッシュ ラムダス氏とビジェイ ラダクリシュナン氏によって設立された Magzter は、世界中の雑誌や新聞の出版社が自社のタイトルのデジタル版を作成し、世界中の消費者に配信できるようにします。

 n.また、ユーザーが当社の利用規約を遵守していることを確認するために、使用状況情報も使用されます。たとえば、ユーザーの使用状況情報は、ユーザーが雑誌やその他のコンテンツを許可された回数、または許可された数のデバイスにのみダウンロードしていることを確認するのに役立ちます。

これにより、デジタル読者は月額購読料で 9,000 以上の雑誌や新聞に無制限にアクセスできるようになります。 Magzter はまた、アプリ向けの革新的な ezRead 2.0 機能により、世界最大の記事数を誇ります。これにより、スマートフォンや小さな画面のモバイル ユーザーは、本来の楽しみ方で雑誌コンテンツを楽しむことができます。読みやすく、素晴らしいビデオと高解像度の写真が付いています。

Shopping Centre News - August-September 2018

Shopping Centre News - August-September 2018

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