Delhi emerges top shopping destination

Delhi has emerged as the top shopping destination for global and domestic brands, with 57 malls spread over more than 11 million square feet, says a report ‘What Makes Delhi's Retail Market Tick?’ released by CBRE India Research at CII Delhi Retail Summit 2015.

As per Vivek Kaul, Head, Retail Services India, CBRE South Asia, the past decade has been instrumental in shaping retail dynamics in the city. From one shopping mall in 1999, Delhi now has 57 spread over more than 11 million square feet.

Factors such as a large population base, high propensity to spend as well as a more developed intra-city transit network have contributed significantly to the evolution of the retail market in the capital. The report discusses multiple factors for the success of leading malls in Delhi including the convergence of food and beverage (F&B) retail brands in the city and how online shopping has taken on traditional retail. The report also examines strategies adopted by retailers and shopping centres in the capital to remain relevant in an ever-changing retail marketplace.

“From being a largely unorganised market with most retail activity being concentrated across its high streets to becoming the top city in India in terms of global retailer activity, Delhi’s retail market has come a long way, feels Anshuman Magazine, CMD, CBRE South. He added the rising prominence of India's capital city as an attractive retail destination can also be gauged from the fact that nearly 120 global brands have chosen it since 2012.