Hit movies step up mall footfall

A string of blockbuster movies towards the end of 2024 has partly helped rescue shopping malls and retailers after a near washout earlier in the year, according to top industry executives.

- Suneera Tandon & Lata Jha

Pushpa 2: The Rule starring Allu Arjun, one of the all-time top grossers, opened in cinemas in December. Kartik Aaryan-starrer Bhool Bhulaiyaa 3 and Mufasa: The Lion King have also drawn crowds.

Strong box-office releases, along with the festival season demand up to Diwali, drove a high single-digit growth in sales for retailers in the three months ending December, according to mall owners.

"In this quarter we have actually come back very strongly," said Pratik Dantara, head, investor relations and strategy, Nexus Select Trust, the operator of 17 shopping centers across several cities with tenants including H&M, Zara and Sephora. Footfalls doubled after falling in the half year ended September, he said.

"Demand was weak in the first nine months of the (calendar) year. But, starting Diwali, releases like Bhool Bhulaiyaa 3, Singham Again, Mufasa: The Lion King, and now Pushpa 2, we've got the footfalls back," Dantara said. "This has obviously helped consumption. Cinema has done reasonably well among other categories in the mall."