Mak­ing spe­cialty malls work in In­dia

HT Estates - - HTESTATES - Pankaj Ren­jhen

In­dia is fa­mous for its tra­di­tional mar­kets and shop­ping streets that of­fer spe­cial­ity prod­ucts, en­ter­tain­ment and leisure in­ter­face.

With emer­gence of or­gan­ised re­tail and shop­ping malls, there has been pro­found evo­lu­tion in the In­dian re­tail in­dus­try.

Due to chang­ing as­pi­ra­tions of In­dian con­sumers and com­ing up of in­ter­na­tional brands, shop­ping malls are them­selves adapt­ing to meet the chang­ing re­quire­ments.

The spe­cial­ity malls that emerged a few years ago to pro­vide such ser­vices left a lot to be re­quired.

This is now chang­ing, as well. Spe­cial­ity malls cater to a par­tic­u­lar re­tail cat­e­gory.

Malls of­fer­ing brands of a par­tic­u­lar cat­e­gory such as gold, au­to­mo­biles, wed­ding, fur­ni­ture, life­style, home etc. are called spe­cial­ity malls.

Si­mul­ta­ne­ously, malls which of­fer prod­ucts of a par­tic­u­lar po­si­tion­ing can also be termed as spe­cialty malls - for ex­am­ple, malls of­fer­ing lux­ury brands can be ter med as spe­cial­ity malls. The au­thor is manag­ing di­rec­tor – re­tail ser­vices,

JLL In­dia

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