As incomes rise, aspirations change and brand awareness increases among non-metro consumers, an increase in the number of malls has been observed in the largely untapped nonmetro cities.
As locations for malls in metros are maturing rapidly, brands and developers are eyeing unexplored territories. They are capitalising on the growing demand as well as a lack of entertainment options and organised retail in Tier II and beyond.
Non-metros like Ahmedabad, Jaipur, Ludhiana, Indore, Chandigarh, Bhopal, Surat, Amritsar, Nagpur, and Lucknow have accommodated a healthy percentage of retail growth over the last few years mostly because these cities have very favourable demographics and a high propensity to consume, which naturally attract national and international brands. Consumers in some of the non-metro cities around New Delhi travel to the malls here to shop for luxury and high-end brands, but mid and mass-segment brands are much better equipped to leverage the demand in non-metros, and many are trying to gain first-mover advantage.
What Research Says
According to a recent ANAROCK research, 31 malls over 13.5 million sq. ft. will come up in non-metro cities such as Ahmedabad, Lucknow, Indore, Surat, and Nagpur, among others.
Among non-metro cities, Ahmedabad stands out with as many as 6 new malls slated to come up in the city by 2022-end. These new malls will be spread over 3.2 million sq. ft. Both domestic and international brands are gung-ho on Ahmedabad; besides scoring high on consumerism, the city has a growing young population of entrepreneurs, IT professionals and factory employees.
この記事は Images Retail の March 2020 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Images Retail の March 2020 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
McDonald's The Maharaja Mac Of Transit Retail
While McDonald’s serves as a great example of successfully Indianising a global brand, it is also an insightful case study in strategically making transit retail work
Founders, Market are Key for D2C Investors
Investors and brands across the retail landscape are the crucial factors considered when raising funds
Powering Consumption Growth India's Home and Household Market Report
The report from Deloitte India projects that India’s home and household market is witnessing strong demand, particularly in tier 2 and tier 3 cities that are emerging as growth hubs
Tech Infra Readiness Among Top Challenges in GenAI implementation
Tech infrastructure readiness is one of the top three challenges organisations in the technology, media, and telecom (TMT) sector face when implementing Generative AI (GenAI) solutions, a report stated.
Amazon India Introduces AI Chatbot Rufus Ahead of Festive Sale event
E -commerce major Amazon India launched a new generative AIpowered conversational shopping assistant, Rufus, ahead of the start of its festive sale event.
'Fusion of Art and Commerce Helps Virtuous Retail Create Culturally Rich Shopping Environments'
Sumi Gupta, board member of VR South Asia, who spearheads all things art and culture at the group, talks about the unique approach of curating art festivals in retail spaces to foster a deep community connection and drive commerce
Jumboking's Travel Retail Journey
About 95% of Jumboking's outlets are positioned at busy transit hubs benefiting from the high foot traffic these places enjoy
What's Driving the Success of Electronics on Q-commerce
Electronics are among the hottest selling items on q-commerce. Here's what's driving the trend and why the collaboration is a win-win for all stakeholders
Measuring the Influencer Effect
Influencer marketing has become a core part of every brand's marketing. But does it really benefit brands?
Mid-range Smartphone Users Lead in Premium Product Engagement
The study, conducted by Bobble AI’s Market Intelligence division, delves into the online shopping behaviour of smartphone users