"F&B industry is growing and there are different concepts and cuisines available. Today, we look at 35-40 percent space allocated to entertainment and F&B. Movies and gaming take around 20-25 percent space and 15-20 percent goes to F&B." - Rajneesh Mahajan, CEO, Inorbit Malls.
Today the business of food is going through the biggest phase of disruption. From investors heavily financing the food business, to real estate players allocating more spaces to food brands, one can safely say that the food business is projecting the healthy growth of retail real estate in India.
As per a recent report, getting people into the mall with good food often means they’ll spend more – transactions are much higher in malls that have quality food and beverage options. “There has been a noticeable increase in the number of food spaces and restaurants within malls, with their presence growing by approximately 10-15 percent compared to just a few years ago,” shared Anshuman Bhardwaj, Centre Director, Phoenix Marketcity, Pune. He added that this trend could be attributed to the changing preferences of modern consumers who were seeking unique dining experiences and a wide range of culinary options.
Malls have recognized the potential of the food and beverage industry, and have responded by incorporating diverse and innovative food spaces to meet the evolving demands of consumers. This shift reflected the growing importance of food as a social and experiential activity, with malls providing a convenient and centralized location for people to meet, shop, and indulge in a variety of gastronomic delights.
FACTORS DRIVING THE GROWTH
Esta historia es de la edición August 2023 de Retailer.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición August 2023 de Retailer.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
India's $500 Billion Ai GDP By 2025: Satya Nadella, CEO. Microsoft
Digitalization transforms consumer-business connections by improving accessibility through websites, mobile applications, and social media, allowing customers to participate conveniently.
THE GIFTING KING
Varun Moolchandani has strategically steered Archies towards catering specifically to children, and recently unveiled its inaugural brand mascot, AMA.
Key Insights from Restaurant India Chennai Show 2024
Discover the recipe for restaurant success as industry leaders share their thoughts
How Culinary Scene is Taking Off at Indian Airports
The Indian aviation industry's transformation extends beyond infrastructure and airline services, significantly impacting the Food & Beverage (F&B) sector within airports.
THE TECH BAKER
Revolutionizing the bakery industry from dough to door
INNOVATIVE JEWELRY MAVEN!
BlueStone, led by visionary Gaurav Singh Kushwaha, redefines Indian jewelry shopping, blending tradition with cutting-edge technology, sustainability, and a seamless omnichannel experience
The Omni Jeweler
How Reliance Jewels in a short period of time established an omnichannel network of 400+ stores across India
ORACLE X APOLLO
Apollo Health & Lifestyle Limited, one of India's largest retail healthcare companies, collaborated with Oracle Fusion Cloud Enterprise Resource Planning (ERP) to optimize its financial operations and increase productivity.
GEOIQ X LENSKART
As an omnichannel brand, Lenskart's physical stores play a vital role in achieving this mission. In 2021, GeoIQ partnered with Lenskart to support this vision.
HAPIDO X MOENGAGE
Based in UAE, Hapido has reshaped the landscape of digital shopping in the country.