Malls across India are undergoing an accelerated rebound post the pandemic with ever-increasing footfall, revenue, and overall output. 2020 to 2022 were the most affected years for Indian Malls as they were among the first to be hit by pandemic-led business challenges. However, as of today, malls are back in business, doing better in business and sales aspects.

Knight Frank India, a leading international property consultant in the country, in its report, ‘Think India, Think Retail 2022 - Reinventing Indian Shopping Malls’ cited that in the same period, potential retail sales in Indian malls are estimated to grow at a CAGR of 29 percent in the FY 2022 – 28 period reaching USD 39 billion by FY 2028.

“We are back to normal as the Pandemic effect is almost eliminated. Negative sentiments toward all the businesses do not exist anymore, and we all are looking toward positive growth in the 2022-23 financial year,” stated Gaurav Balani, DGM Marketing, Infiniti Mall.

Moreover, Select CITYWALK states to have witnessed a strong curve recovery from Covid since the last festive season, beginning in August 2022, owing to robust consumer sentiment. “In the past two years, owing to our phy-gital initiatives, as well as marketing efforts, certain sectors have shown double-digit growth. Particularly, fashion, QSR, and athleisure,” commented Yogeshwar Sharma CEO & Executive Director, Select CITYWALK.

Undergoing a similar trend, Sameep Pathak, CEO - Malls, Oberoi Realty added that the overall mall walk-ins have recovered up to 100 percent, and the mall sales have grown exponentially, along with the trading density, compared to pre covid numbers. Experiential shopping and eating out have grown in double digits, with its Food Fest in March boosting F&B sales. Moreover, Cinema with some blockbuster releases has shown promising numbers and the upcoming line-up of movies will further enhance these numbers.

Change in Consumer Behavior

Consumer preferences have changed drastically in recent years, primarily due to various factors such as technological advancements and the impact of the COVID-19 pandemic. Customer behavior has been very dynamic, and today's consumers are well-educated and informed, and they are clear about their needs and wants. As people return to their offices, attend events and parties, and have begun traveling once again, there is an increase in demand for premium fashion, thus the best-performing categories last year for women were ready-to-wear, particularly dresses, and accessories, while for men it was more formal wear.

“We are observing an increased awareness of health and fitness and hence there is a rise in demand for athleisure wear for both women and men. There has also been a rise in the number of co-working spaces, and our cafes sprinkled across the mall provide the perfect co-working and co-chilling spots," commented Pathak.

Brands have also gone a step ahead to woo customers by offering options like the personalization of denim, customization of bags, monograms on shirts, and so on to provide a wholesome experience and entice walk-ins to their stores.

With consumers looking for more than just a shopping experience. Infiniti Mall has emphasized enhancing the overall customer experience by implementing fascinating technologies and unveiling new events to keep people engaged and entertained.

Changing Technology

Technology has played a crucial role in creating more efficient, engaging, and enjoyable shopping experiences for customers. With the help of a few advanced technologies, Infiniti Mall has improved its overall systems and automated its processes. While automated parking helped the mall manage enormous crowds during the weekend, contactless payments have fast-tracked the payment process making it hassle-free.

“We also have a reward program on WhatsApp that adds the convenience factor for all our loyal customers to be connected with the Mall. With technology, we could enhance our security systems and monitor the footfalls at the Mall in a better way. Alongside saving ample time, indeed technology has also helped us reduce maintenance costs,” asserted Balani.

Similarly, CITYWALK has modified its parking services to use touch-free technology, while encouraging its partners to develop new, cutting-edge alternatives. Moreover, it recently became a pioneer in installing the Air Quality System (AQS) in order to provide the best indoor air quality to its patrons.

“We have installed multistep filtration in our AHU to improve the outside air by 70-80 percent. We have also partnered with Charge City to install electric vehicle charging stations in its vast premises. With this move we are looking to support India’s shift to electric mobility and offer customers the facility of charging their electric vehicles as they shop, watch a movie, or dine,” commented Sharma.

Recovery post-Covid

While the temporary closures had impacted Infiniti Mall’s business during the COVID-19 pandemic, the mall has managed to recover its revenue post-pandemic significantly across all categories. While the F&B revenue grew by 55 percent, Fashion also showed an upward trend.

On a similar note, CITYWALK’s shopping center has experienced development, particularly during the festival season when growth numbers reached double digits. Cinemas took a little longer to return to normal, but with blockbuster releases like Pathan and Avatar-2, audiences have returned to the hall. Overall CITYWALK states to have witnessed a 15 percent increase in footfalls across the last few months.

Based on observation post covid, all categories across Oberoi have grown by 25 to 35 percent with Food & Beverage, Family Entertainment Centre, and Beauty & Accessories being the fast-moving categories. Additionally, the male beauty and grooming category has grown exponentially by 33 percent.

With its strategic approach to revamp the business, the best growth Infiniti has seen is in F&B with 55 percent, Family Entertainment Centers with 25 to 30 percent, and Fashion Brands with 10 to 15 percent and overall growth of 20 – 25 percent in terms of general trading in the Mall.

Marketing Strategies

Consumer needs are changing, and malls globally are evolving with the implementation of technology and creative innovations.

At the macro level of the CITYWALK community, the marketing strategy has focused more on specific target groups like runner groups and influencers groups. “Having a strong social media presence and using relevant social media personalities to increase awareness around new initiatives has helped us immensely in increasing the footfall,” stated Sharma.

Infiniti Mall has emphasized innovation and creative initiatives that drive massive footfalls. Alongside adding comfort elements elevating the technology at Infiniti Mall.

Believing that the customer experience one provides in a store is the base of retail success. To boost mall traffic and get shoppers through our doors, Oberoi Mall recently introduced three new initiatives. “We have introduced- Kidzbotics with its technical partner Coboticca, which is based on robotics exclusively for kids, engaging them in various fun with learning activities once a quarter; Fun Bunch partnered with an NGO – Adhata Trust, which is a specially designed event for senior citizens organized once a month, and Pooch Party an annual event curated exclusively for the four-legged friends and pet parents that include various activities and promote bonding with fun games,” added Pathak.

Apart from this, the mall has a robust event calendar with various activities planned to cater to various age groups.

Future Plans

Infiniti Mall is looking into Business Expansion- looking out for opportunities in other cities for its expansion, while welcoming new brands to the mall making it a one-stop-shop destination covering various categories with a wide range of brands. Moreover, it also intends on using experiential resources that will help it provide the customers with a great experience.

The main focus for Oberoi Mall is to expand its tenant portfolio by hosting new brands that have emerged and are quickly becoming popular among buyers. “We are looking at providing a fresh look and augmenting our retail partners in Dining out, Family Entertainment Centre, and the fast fashion segment. This shall help us give a fresh and new appearance to the existing look and feel of the mall,” asserted Pathak.

With categories such as eyewear, footwear, and menswear having shown enormous growth, the positive response from the customers has given Oberoi momentum to add new retail space in its current Oberoi Mall, Goregaon. The mall further intends to redesign close to 25,000 to 30,000 square feet of its existing retail space aiming to add approximately 20-22 new retail outlets to the current brand mix.