Growth of Retail in IndiaGrowth of Single brand Stores In India :
Globalization of the economy has exposed the Indian consumer to a gamut of products and brands. “Quality of life” is a buzzword with the Indian consumer today. As a result, international brands of lifestyle products are increasingly making their presence felt in the Indian retail scene as Single-brand Stores
Growth of Malls in India :
The Indian Retail Sector is booming and mall growth is being seen as a clear indicator of the economic prosperity in India. These shopping cum entertainment options are getting bigger and better, sporting multiplexes and food courts to woo shoppers. Retail Market Delhi Delhi, a modern cosmopolitan city, is the best example of a multi-ethnic and multi-cultural society with an ever-expanding economy. Being the capital city, it has an affluent population comprising a cosmopolitan mix from across the country.
Delhi is ranked as the second largest market in the country in terms of size and socio-economic profile and it's steadily increasing quality of life, a booming economy and consumer market makes it one of the hottest destinations for Retail segment Traditionally, Delhi has been one of the leaders in retail activity in the country. Several large retailers first opened shop in the capital city.
The cash-rich Delhi population is an ideal market for high-end retailers and this explains the presence of all the premium brands, including Marks & Spencer's, , Louis Vuitton, Nike, Reebok, Wallmart, and McDonald etc in the city. Almost all Indian retail giants are present in the Capital and looking at expansion.
The traditional prime retail areas in Delhi, including areas like Connaught Place, South Extension, Greater Kailash, and Vasant Kunj would continue to command high prices due to lack of fresh supply.
Taking the advantage of shortage of retail space in Delhi, many private developers have come up with new retail projects in South and North Delhi. Saket District Center the prime retail mall Select City Walk, MGF Metropolitan, DLF Place and Square One have already started attracting major foot falls and they cater high end societies in the south and Pitampura's Netaji Subhash Chander Place have started catering mix of high end and middle class societies in North and West Delhi. Retail and NCR (National Capital Region)Retail expansion in the National Capital Region (NCR) is primarily being planned in the new malls. An estimated 75 malls would be in placed in NCR, all this development is taking place, keeping the rising demand for real estate by the retail brands. Retail industry is set to grow by leap and bound by 2010.
It is Gurgaon that has initiated organized retail boom in Delhi and NCR in the form of malls. Major retail brand presence is along MG Road in Gurgaon and now it has started spreading across Golf Course Raod, Sector Roads, Sohna road, DLF Phase V are next in the row. Concept of specialty malls was first introduced in Gurgaon, a few malls such as The Gold Souk has already come up which houses around 70 retailers and another The Wedding mall on Sohna Road which will house everything from trousseau to event managers and jewellery.
In Noida, Sector 18 is the hub of retail activ ity. Besides the 3,50,000 sq ft Center stage Mall and Unitech’s Great India Place, which are now operational give immense bump in terms of footfall. Presence of retail giants like , Adidas, McDonald's, Papa jones, Madura Garment, Bata, Provouge, and Reebok makes it imperative for other brand to set up their base at the same place.