some retailers feel city consumers still have a long way

From Silicon Valley, Bangalore is fast turning into shopping valley of India. If statistics are to go by, the city will see 16 more malls in the next three years.

Presently, there are 20 malls in the city, making Bangalore the most preferred retail destination after Mumbai and New Delhi, say estimates from workplace solutions firm Vestian Global.

Growing disposable income levels coupled with the tendency of flocking to malls for entertainment is fuelling the rise in mall culture across the city, including in areas like Mysore Road, Tumkur Road, Hosur Road etc.

Whether shopping for apparels, footwear or gadgets or spending on food and movies, each individual ends up spending an average between Rs 2,500-3,000, apart from 3 hours in a mall during every visit.

While during weekdays an average 40,000-50,000 consumers would visit any given city mall, on weekends that number more than doubles.

“People cannot always go to Lalbag or Cubbon Park to spend an evening. Currently it is more for tourism and entertainment purposes that most people visit malls,” says Indraneel Majumdar, general manager (mall operations), Inorbit, Whitefield.

According to Shrinivas Rao, CEO, Asia-Pacific, Vestian Global, the city today offers an array of large-scale retail formats, including neighbourhood malls, community and regional malls that continue to evolve.

“Another key factor positively impacting malls is the inclusion of traditional food stores and saree shops inside malls,” says Rao.

Experts say malls are realising that to increase consumer spending, alongside international food and fashion brands, a healthy mix of traditional stores are required.

“Malls in areas like Rajajinagar or Malleswaram cannot just run by opening international brands. They need to have outlets selling ethnic ware, sarees, traditional jewellery to garner more footfalls and revenues,” says Rao.

Jonathan Yach, CEO of Mantri Square, says they have a cobbler, lungi-stitching fellow, tailor and key-cutting fellow to provide a complete experience to shoppers. “So that a shopper does not have to look beyond the mall.”

Experts say another criteria that distinguishes Bangalore consumers from those in other metros is the shift from products of necessity to lifestyle products.

“Many Bangaloreans travel abroad and tend to scout for international and high-end products in the malls here. We have seen that people who move up the value curve on shopping by purchasing premium products don’t tend to slide down the value ladder,” says Sumit Saran, director at agribusiness consulting firm SCS Group.

However, some retailers feel city consumers still have a long way to go before they can catch up with their counterparts in Mumbai or New Delhi.

Majumdar says Bangaloreans still have a problem with lavish spending. “Unlike New Delhi, people here weigh their options carefully and make measured purchases.”