Tier II and tier III cities are undoubtedly the future growth engines of the country. The rise in internet penetration, influence of social media and growing disposable incomes of the new generation have essentially ushered in an era of commerce,resulting in a mall boom in India.
Such is the growing mall culture in India that 34 new shopping malls, covering 13.6 million sq. ft. area are expected to come up in top eight cities by the year 2020. However, with the growth of e-commerce and m-commerce, malls understood the need to reinvent themselves in order to offer more than just retail to bring in and retain the modern consumer. This was especially essential in Tier II cities, where the penetration of Internet meant people could access brands that could not physically reach them. Today’s Tier II consumer is as evolved, educated and well-travelled as anyone living in a metropolitan city.
He’s demanding and has a high disposable income. To cater to him, new malls being constructed in smaller cities are allocating substantial square footage to Family Entertainment Centres (FECs). Maximising on digital technology, these malls are improving upon customer engagement to stimulate footfalls as a business strategy to boost sales.
99 D N REGALIA MALL, BHUBANESWAR
“We are now planning to bring in the biggest FEC player of the country, Smaaash, an initiative of Sachin Tendulkar and Virat Kohli, to our mall. This first-of-its-kind venture in Odisha includes a contract signed with 40 international cricketers,” he adds. Another attraction by the mall is a huge VR roller coaster ride.
Nayak says the most interesting feature of this ride is that visitors can any random design and the coaster will drive them in a similar path – a novel concept in as far as FEC rides go.
For parents with small kids, the mall has built dining options next to the kids’ zone, so parents can catch their breath and enjoy a bite while watching their children play. The mall is coming up with a complete floor that offers a 10000 sq.ft. micro-brewery, a Cyber Hub-like concept called Food Hub with six top fine-dine restaurants.
“The mall – which is a mixed-use development – will see the first Taj hotel opening up in the city. Vivanta Bhubaneswar will comprise 137 well-furnished guest rooms and other features, including multi-cuisine restaurants, recreation facilities, modern meeting spaces, well-equipped conference rooms and 4 banquet halls and five fine dine restaurants. It is slated to open in September 2020,” he stated.