Specialty Malls to Trigger Retail Boom in India

June 11, 2007	(7 votes, average: 2.43 out of 5)  Loading ...
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Specialty Malls seem to be the new retail buzzword which is likely to dominate the Indian retail market now onwards. With a huge influx of sparkling malls with finely tuned marketing strategies mushrooming in cyber cities like Gurgaon and Noida, the mall mania has certainly gripped every shopping enthusiast.

With the competition growing fiercer in Indian retail sector, specialty malls are resetting the trends and transforming the fundamental activity of shopping into a lifestyle statement.

Most of the world class brands have now established their presence in India. Malls in Gurgaon have always been looked upon as taking a new high. However, the growing trend is apparently visible everywhere.

Also known as Theme Malls, Specialty Malls are believed to be more popular than the simple shopping malls. The first specialty mall was the Gold Souk in Gurgaon. Dedicated entirely to the Jewellery collection, the mall houses some of the big brands in the Jewellery business in India as well as abroad.

At present, there are only few specialty malls in India, but the Retailers Association of India (RAI) expects to push specialty malls constituting nearly 10 per cent of the total malls in India thereby taking Indian retail sector to heights.

Traditionally, people in India have a craze for a theme mall. Lack of large space has encouraged property developers to create niche markets or specialty markets for different segment of customers. However, the country requires growing much faster to support the emergence of these shopping malls.

News Published Under:   Retail Market in India |

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