Mall Revival: Bold Moves Reimagine Shopping in 2024
06 January 2024, Mumbai
WHY India
Malls Bounce Back: After a pandemic dip, mall visits shot up 42% in 2023, with Phoenix Marketcity in Bangalore even surpassing pre-pandemic levels!
Luxury Reigns: Premium malls saw a sparkling 15% growth, fueled by flagship launches like Louis Vuitton and Dior at Delhi's DLF Emporio.
Tier 2 Takes Off: In a surprise twist, smaller cities like Lucknow and Jaipur witnessed a 27% mall boom, with Phoenix Palassio leading the charge.
Experiences Win: Forget boring stores; in 2024, malls will thrive by offering art exhibits, live music, and unique events.
High Streets Rise Again: With a 38% foot traffic surge, high streets are back! Mumbai's Hill Road, with its mix of street food and boutiques, shows why.
Foodie Frenzy: High streets saw a 24% rise in food outlets, with Chennai's Anna Salai leading the pack.
Data Drives Success: Smart retailers like Fabindia in Jaipur are using data to personalize offers and boost sales—the future of high streets?
So buckle up!
2024 promises a thrilling ride as malls and high streets reinvent themselves through bold moves and smart strategies.
Get ready for an experiential shopping revolution!
5 Retail Revolutions:
- Mall Mania: Visits soar 42%; luxury reigns (15% boost!).
- Tier 2 Triumph: Smaller cities (27% surge!) challenge metros.
- Experiences Rule: Art, music, and events in 2024's malls.
- High Streets Hustle: Back with 38% footfall, food leads (24% growth!).
- Data Drives Decisions: Personalization fuels success on the high streets.
