Shopping Centre News in association with Shopping Centres Association of India (SCAI) conducted a survey on ‘Consumer Sentiment, Behaviour and Comparisons of Sales in Festival Season (2019-2020)’ to find out the exact situation of the Shopping Centre Industry on the ground. The survey analyses the details of how shopping malls have been performing since the onset of the festive season during COVID (from October to December) specifically gaining insights on sales, footfalls, dwell time, conversions, consumer demographics and out-of-the box retail innovations, etc. as compared to the previous year.
35 shopping malls pan India (from Tier I, II& III cities), participated in the survey and the results were quite overwhelming. Though the percentage in sales, revenue, footfall has been less in comparison to last year, the conversion rate and revival rate saw a huge surge. As a result, mall developers are looking forward to a speedy recovery in comparison to what they had predicted during the initial stages of lockdown.
Footfall Analysis & Consumer Demographics
Shopping malls survive on footfalls. If people are not walking into malls to shop, eat, gain experiences, and be entertained, the mall will not survive even if it has the best of brands, is the largest mall in area and is considered to be the best run and most popular among its peers. The COVID-19 pandemic was a body blow to the Shopping Centre Industry because first, people were not allowed to come out of their houses in lockdown and second, when the lockdown was lifted, consumers themselves were scared of contracting the rapidly spreading virus.
TOP 15: KEY HIGHLIGHTS FROM THE SURVEY
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Shopping Centre News conducted a survey on ‘Consumer Sentiment, Behaviour and Comparisons of Sales in Festival Season (2019-2020)’ to find out the exact situation of the Shopping Centre Industry on the ground. 35 shopping malls pan India (from Tier I, II & III cities), participated in the survey and the results were quite overwhelming. Though the percentage in sales, revenue, footfall has been less in comparison to last year, the conversion rate and revival rate saw a huge surge. As a result, mall developers are looking forward to a speedy recovery in comparison to what they had predicted during the initial stages lockdown…
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