The Evolution of Retail in North India

Emerging Hotspots, the Rise of Malls, and the Impact of the Residential Property Boom on the Region’s Retail Landscape

The boom in residential property development has created a symbiotic relationship between retail and real estate, contributing significantly to the expansion of organized retail and transforming North India into one of the country’s most dynamic retail hubs

North India has always been the land of enterprising people who have created some very successful businesses like Modicare, Liberty, FabIndia, V-Mart Retail, Biba, Mohanlal Sons and Haldiram's among others.

The country's capital Delhi, which houses India Gate, has been the chosen gateway to the Indian market for many international brands like Louis Vuitton (LV), Starbucks, Zara, H&M, Victoria's Secret, Uniqlo, The Body Shop and, more recently, Footlocker and Armani Beauty.

Evolution of Retail

Retail in North India has experienced a remarkable transformation over the past few decades, driven by a combination of factors, including economic growth, increased urbanization, demographic shifts, and a growing middle class with rising disposable incomes. The retail landscape in this region has evolved from traditional markets and small retail shops to sprawling shopping malls, large-format stores, and sophisticated e-commerce platforms. A key catalyst in this transformation has been the rapid growth of residential real estate. The boom in residential property development has created a symbiotic relationship between retail and real estate, contributing significantly to the expansion of organized retail and transforming North India into one of the country’s most dynamic retail hubs.

However, before the 1990s, retail in North India was predominantly unorganized. Shopping was largely confined to traditional markets, known for their vibrant street-side vendors, local shops, and bazaars. In cities like Delhi, Amritsar, Lucknow, Chandigarh, and Jaipur, retail experiences were often fragmented, and shopping was more of a local affair.