The beginning of the year 2020 saw a remarkable opening for the shopping mall industry. Industry experts predicted a smooth journey ahead, mall developers were bullish on the growth potential of organised retail keeping in mind the flourishing economy and industry experts including ANAROCK had predicted the launch of around 100 new malls spanning over 49 million sq. ft. pan India by the end of 2022. Then the pandemic hit, and it was pandemonium all around.
The subsequent global lockdown, shutdown of all economic activities threw the Retail and Shopping Centre industries into chaos. The growth scale became imbalanced in a matter of weeks and all predications were disproved.
Needless to say, therefore, that mall supply was severely impacted by the pandemic and the future of many upcoming malls/projects still remains ambiguous. In the COVID era, only 5 malls came up in India, in Gurugram, Delhi, Lucknow and Bengaluru, covering an area of around 2.75 million sq. ft. Mall developers in other Tier I, II & III cities and towns, unsure of what lies ahead, have yet to announce any launch dates.
As a result, many reached a dead end and were stopped permanently. Mall developers with more reputed brand images and brand values also suffered but managed to overcome this period with limited resources.
Denne historien er fra February 2021-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra February 2021-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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
