Mall Retailers Experience 15-20% Sales Growth Amid Heatwave and Holidays
Heatwave and holidays drive 15-20% sales surge for mall retailers
Image: The Economic Times
Retailers in malls across India are witnessing a sales surge of 15-20% due to heatwave conditions, school holidays, and reduced travel. Key sectors like food and beverage, fashion, and beauty are thriving as families seek air-conditioned environments for shopping and dining.
- 01Sales for mall retailers are projected to increase by 15-20% compared to last year, according to Saurabh Khanijo, managing director of Kylin restaurants.
- 02DLF malls expect a revenue growth of 10-11% for April and May, driven by increased consumer spending in air-conditioned environments.
- 03The average family dwell time at malls has increased, with enhanced activity zones attracting more visitors.
- 04Cafe Delhi Heights reports a 10% rise in sales, reflecting broader trends in the mall retail sector.
- 05Footfall in malls can increase by 15-25% during peak holiday and high-temperature periods, benefiting food and lifestyle brands.
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Mall retailers in India are experiencing a significant sales boost of 15-20% this season, driven by a combination of heatwave conditions, school holidays, and reduced travel. Saurabh Khanijo, managing director of Kylin restaurants, noted that their outlets are seeing increased business compared to last year, with waiting times extending to hours at popular locations like Mall of India in Delhi NCR. Pushpa Bector, group executive director at DLF Retail, also reported a 10-11% revenue increase for DLF malls in April and May. The trend indicates that families are spending more time in air-conditioned malls, leading to higher per capita spending on food, beauty, and fashion. Ravinder Choudhary from Vegas & Unity Group highlighted that the average time families spend at malls has risen, with activity zones encouraging longer visits. Additionally, Shriram PM Monga from SRED noted that footfalls during extreme weather can rise by 15-25%, resulting in stronger sales for food and lifestyle brands.
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The increased sales in malls indicate a shift in consumer behavior, with families opting for indoor activities during extreme heat, which could lead to sustained growth in the retail sector.
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