Behind ghost shopping malls, a new consumer trend glimmers indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
The new supply of retail space in shopping malls increased 72 percent last year to 59.48 lakh square feet across eight major cities to meet rising demand from retailers, according to Cushman & Wakefield. In 2023, as many as 11 shopping malls became operational, covering 59,48,395 square feet of space across the top eight cities. In the previous year, nine malls came into eight markets, totalling 34,49,222 square feet area.
The new supply of retail space in shopping malls increased 72 percent last year to 59.48 lakh square feet across eight major cities to meet rising demand from retailers, according to Cushman & Wakefield. In 2023, as many as 11 shopping malls became operational, covering 59,48,395 square feet of space across the top eight cities. In the previous year, nine malls came into eight markets, totalling 34,49,222 square feet area.
The fashion retail segment has been struggling with a demand slowdown since January this year due to inflationary headwinds. The overall growth slowed down to 6% in both March and April, according to the RAI, indicating the slowest sales expansion in more than 14 months and increasing marginally to 9% in August and September.
Upping the glam quotient - Brand Wagon News | The Financial Express financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.