Retail's Relay Across Tier II Cities!

Retailers and mall developers are looking to leverage the buying power of the populace residing in these cities. In addition, growing Internet usage has whetted the appetite for quality products in these areas, thus giving a fillip to malls and e-commerce.

- Anshuman

The retail sector has been racing back to normalcy since’ early 2022 as customers are now resorting to a trend called revenge shopping’, much like revenge tourism’, wherein they want to experience and shop for things they did not have access to for nearly two years. However, experience’ now has become the buzzword. It is a critical factor driving the retail space due to its ability to drive up customer engagement and not only sales. Pent-up demand among consumers who had been forced into isolation for two years but are now emerging from their homes following a receding pandemic.

Moreover, the retail fever is no longer limited to metro and Tier I cities but has spread to Tier II III cities. Most corporates are encouraged by the quality infrastructure, affordable land costs, and operations in these locations. While some are leasing space to set up their own operations, others are also opting for the flexible space route.

Also, retailers and mall developers are looking to leverage the buying power of the populace residing in these cities. In addition, growing internet usage has whetted the appetite for quality products in these areas, thus giving a fillip to malls and e-commerce.

Tier II Cities: The New Places in Vogue

As India transitions from being largely rural to an urban society, tierII cities will continue to play a crucial role in the country’s future growth story. Thus, we believe harnessing their economic and development potential to take on the mantle in the future is vital. Moreover, tier-II cities are poised to be the new growth vectors in India in the coming years driven by their progress in the real estate landscape, work environment, quality of life, and sustainability.