Shopping Centre News
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2018 turned out to be an outstanding year for the Indian Shopping Mall Industry. Not only did the year witness the restructuring of malls in India as FECs but it was also the year when malls took to technology seriously, adopting new facilities and upgrading existing ones – all towards consumer convenience. Even as the overall economy struggled, and the retail industry was rife with rumours of ‘the shopping mall is dead’, stakeholders understood the importance of developing multichannel retailing and adopted the practice with vigour, leaving behind traditional methods. This led to a remarkable shift in the Indian Shopping Mall Industry. With fundamental growth drivers of the retail sector staying intact – rising disposable income, rapid urbanization, increasing purchasing power – global investors and shopping mall developers remain bullish on the sector. Bigger malls –both in terms of space and services – were launched, while older malls decided to reinvent themselves. The industry was drawn towards a new consumer set – Tier II cities. A large number of malls and investors turned focus on the South and East of India. Cities including Bhubaneswar, Siliguri, Rourkela, Ranchi, Patna, Thane, Pune, Ludhiana, Kochi and Nagpur witnessed an incline in retail and malls in their region. Saturation of the metros due to limited space availability, mounting rental values and escalating infrastructure issues fuelled retail growth in smaller cities like Ahmedabad, Bhubaneshwar, Thiruvananthapuram, Jaipur, Lucknow, to name just a few. The December 2018-January 2019 year-ender edition of Shopping Centre News, took an in-depth look at the Indian retail real estate sector, including a deep dive into what malls did right in 2018 and how they are gearing up for 2019. Heads of leading Indian malls outline all experiences and innovations they have been and will be working on in 2019 to lure the consumer, keep him spending and turn him loyal.
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.