Shopping Centre News - August 2022

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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.

Shopping Centre News Magazine Description:

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.