THE FUTURE OF INDIAN RETAIL: WILL MALLS LEAD THE WAY?

India’s retail transformation and future mall development

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India’s retail scene is undergoing a remarkable evolution, shifting from traditional high streets and local bazaars to sophisticated shopping complexes. Rapid urbanisation, changing consumer preferences, and the infusion of global brands have spurred this transformation. While high streets are still prominent, they remain largely fragmented and unorganised. The 1990s economic reforms set the stage for the organised retail sector, setting in motion the construction of malls that would eventually become the face of modern retail in India.

The rise of mall culture

The 1990s marked the entry of mall culture into India, starting with cities like Chennai and Delhi. Real estate developers soon followed suit, building shopping malls across the country. By 2010, India’s top seven cities had nearly 31.1 million sq. ft. of mall space.