Malls Report Higher Conversion & Revival Rates in 2021 The year 2021, marks another successful yet demanding year for the shopping centre industry. In comparison to 2020, the year was fully under the infl uence and threat of the pandemic. Shopping centres became Omnichannel and included digital innovations in their portfolio. Yes, malls becoming phygital has become a reality in India. Every mall took decisive steps in raising their digital and innovations bar.
Mall developers also embraced feedback more and more from the retailers on how the current shopping centres need to embrace the phygital element, as well as their inputs for all future shopping centre developments. Yet again the festival season turned out to be a saviour for the shopping centres and the mall developers in 2021 as well.
Most malls reached the 100 per cent recovery mark during this season. The opening of cinema and multiplexes in the later half turned outto be another huge achievement. Fortunately, while the beginning of the year posed a setback for the Indian economy, the end saw a lift in business and revenues, indicating a new hope, a new dawn and a new vision for the industry in the new year.
Malls Report Higher Conversion & Revival Rates in 2021 The year 2021, marks another successful yet demanding year for the shopping centre industry. In comparison to 2020, the year was fully under the infl uence and threat of the pandemic. Shopping centres became Omnichannel and included digital innovations in their portfolio. Yes, malls becoming phygital has become a reality in India. Every mall took decisive steps in raising their digital and innovations bar.
Mall developers also embraced feedback more and more from the retailers on how the current shopping centres need to embrace the phygital element, as well as their inputs for all future shopping centre developments. Yet again the festival season turned out to be a saviour for the shopping centres and the mall developers in 2021 as well.
Most malls reached the 100 per cent recovery mark during this season. The opening of cinema and multiplexes in the later half turned outto be another huge achievement. Fortunately, while the beginning of the year posed a setback for the Indian economy, the end saw a lift in business and revenues, indicating a new hope, a new dawn and a new vision for the industry in the new year.