Daybreak Dead mall rising: The life and death of Indian shopping centres
13 snips
Dec 12, 2024 Abhishek Bansal, Executive Director of Pacific Development Corporation, shares insights on the changing landscape of Indian shopping malls. He discusses the alarming rise of 'ghost malls,' highlighting a significant loss in value. The conversation delves into the paradox of declining foot traffic despite consumer spending and the critical role of mall location and tenant mix. Bansal also touches on the innovative transformations of abandoned malls post-COVID, showcasing the need for strategic planning in revitalizing retail spaces.
AI Snips
Chapters
Transcript
Episode notes
Location, Location, Location
- Location remains crucial for mall success, as highlighted by Abhishek Bansal.
- Pacific Mall Ghaziabad's strategic border location initially gave it access to both Delhi and Ghaziabad markets.
Jasola Outlet Mall Strategy
- Pacific's outlet mall in Jasola, Delhi, targets a specific niche to compete with larger malls.
- The area's existing discount market and proximity to other major malls influenced this strategy.
Tenant Mix Evolution
- Mall success depends heavily on a good tenant mix, which has evolved significantly over time.
- Initially, this meant balancing national and local brands, as international presence was limited.