MALLS 2.0: DEVELOPING INDIA'S RETAIL SPACE FOR GENERATIONS TO COME

Matching pace with omnichannel retail, distinct players across India are blending online-to-offline shopping experiences with live entertainment to make malls are the more thrilling 

- SHUBHAM DASGUPTA

Matching pace with omnichannel retail, distinct players across India are blending online-to-offline shopping experiences with live entertainment to make malls are the more thrilling alls are facing an upsurge in footfalls. Rentals, according to recent reports, are slated to rise by as high as 10% for retail brands in some parts of India. On the other hand, mall owners have a herculean task to constantly innovate existing spaces and make them as inviting and lucrative as possible for generations Z and alpha. Interactive store layouts, pop-up shops, artist workshops and live entertainment are making malls the hub of recreation. Technological advancement has put every player on a race to be the best mall to throng. Bhumika Group, Gulshan Group, Vegas Mall, and DLF Avenue share their achievements till date.  

1 Making Retail Experiential

Abhishek Shrivastava, Associate Vice President, DLF Limited (Cluster Head, Delhi, DLF Malls) believes that augmented Reality (AR) and virtual reality (VR) are being integrated for virtual tryons of clothing, accessories and exploration of virtual showrooms. “Contactless payment methods, curb-side pickup, and buy online, pick up in-store (BOPIS) services cater to changing customer preferences. Retail brands are incorporating IoT (Internet of Things) devices to monitor inventory, track foot traffic, and adjust store environments (lighting, temperature, music) in real-time at smart stores,” he said.