"F&B industry is growing and there are different concepts and cuisines available. Today, we look at 35-40 percent space allocated to entertainment and F&B. Movies and gaming take around 20-25 percent space and 15-20 percent goes to F&B." - Rajneesh Mahajan, CEO, Inorbit Malls.
Today the business of food is going through the biggest phase of disruption. From investors heavily financing the food business, to real estate players allocating more spaces to food brands, one can safely say that the food business is projecting the healthy growth of retail real estate in India.
As per a recent report, getting people into the mall with good food often means they’ll spend more – transactions are much higher in malls that have quality food and beverage options. “There has been a noticeable increase in the number of food spaces and restaurants within malls, with their presence growing by approximately 10-15 percent compared to just a few years ago,” shared Anshuman Bhardwaj, Centre Director, Phoenix Marketcity, Pune. He added that this trend could be attributed to the changing preferences of modern consumers who were seeking unique dining experiences and a wide range of culinary options.
Malls have recognized the potential of the food and beverage industry, and have responded by incorporating diverse and innovative food spaces to meet the evolving demands of consumers. This shift reflected the growing importance of food as a social and experiential activity, with malls providing a convenient and centralized location for people to meet, shop, and indulge in a variety of gastronomic delights.
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