31 July 2023, Mumbai
According to a report from The Economic Times, India is gearing up for an increase in factory outlet malls, aiming to reach numbers similar to those seen in the UK and the US.
Target India's enthusiastic shoppers
Discount-driven market; As the Indian population continues to embrace the allure of heavily discounted shopping at factory outlets, there is a growing need for a more structured retail landscape.
In response to this trend, developers are eyeing the concept of organized retail to meet the country's shopping frenzy.
Goldilocks
Abhishek Bansal, the Managing Director of Pacific Malls, is optimistic about the concept's prospects, especially after the successful launch of a mall in Delhi's Jasola.
This mall houses a collection of premium brands like Tommy Hilfiger and Skechers, offering their products at discounted prices.
The positive reception of this mall indicates a potential surge in popularity for factory outlet malls across India.
Tackle Retail Challenges
However, developers are facing challenges in determining the right rental models, as extensive discounting can impact overall revenue.
Despite this hurdle, several regions, including Bengaluru, Guwahati, Coimbatore, and Punjab, are expected to witness the emergence of more factory outlet malls, catering to the growing demand for organized retail spaces in the country.
