Shopping Centre News - August 2019

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If you have ever visited malls in the West, you
would see that they are extremely different from
their Indian counterparts. There is something
trendy everywhere you look, new innovations
implemented cleverly and successfully. One trend
which has come from the West is the Concept Store.
Originally, found on high streets, concept stores
are today the core of shopping malls all over the
world. In India, with the explosion of e-commerce
on the retail scene, malls use these re-imagined
and re-engineered as a means to improvise their
offerings and to rake in the footfalls.
Malls or Consumer Engagement Spaces invest in
experiential retail through concept stores, which
are all about discovery and experience – selling a
carefully curated, unique selection of products that
connect to an overarching theme.
Concept stores began small, with only apparel
stores investing in them, but now almost every
segment of the industry is experimenting. Be it F&B
outlets, apparel & accessories, sports equipment
stores, homewares, and even hypermarts and
supermarts, they all use concept stores to test
innovative ideas which optimise the customer’s
journey. They offer experimental elements such as
a cafés or exhibition spaces, enhancing their appeal to shoppers seeking a particular lifestyle.
The August edition of the Shopping Centre News
studies the impact and growth of concept stores in
the Indian Shopping Mall Industry. The issue talks
about mall developers’ definition of the concept
store and the kind of outlets they offer to attract
local shoppers.
Aside from this, the edition talks about Corporate
Social Responsibility and what malls are doing to
abide by it since the mandatory introduction of
spending on CSR brought on by the Companies Act
2013. The feature also discusses how this medium
of helping society is actually becoming a consumer
engagement tool, increasing brand awareness for
the mall.