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Big Discounts do the Trick for Shopping Malls Delhi, Mumbai malls see an increase in footfalls and sales as retailers lure customers with 40-50%

January 04, 2019 07:07 AM


Big Discounts do the Trick for Shopping Malls
Delhi, Mumbai malls see an increase in footfalls and sales as retailers lure customers with 40-50% discounts

New Delhi:

Higher quantum of discounts starting with flat 40-50% at some retailers are enticing consumers as malls from Delhi to Mumbai are reporting growth in sales for the end of the season sales compared to last year.

Delhi’s Select Citywalk Mall witnessed a 5% increase in footfall and 14-15% jump in sales during this holiday season, according to Yogeshwar Sharma, CEO, Select Citywalk. Pushpa Bector, head of DLF Malls, said business is up by 20-25% this year at their malls.

Industry experts say brands from Zara to Marks & Spencer are reporting good numbers to malls where the shopping centres have revenuesharing agreements with the brands.

“In December 2018 we have seen the best footfall in our mall,” said Manoj Agarwal, chief executive of Viviana Mall in Mumbai. “We expect the trading numbers to commensurate as those numbers will come by mid-January. Most of the retailers are saying sales are above their target or around the targeted number.”

Bector of DLF Malls said the prevailing cold weather in the North and the ongoing wedding season is especially helping fashion retailers. “Winter has really set in this year and wedding season is all the way till March so people are continuing with the wedding shopping,” she said. “These are the two reasons.”

Alok Dubey, CEO for US Polo, Flying Machine and Ed Hardy at Arvind Brands said his company has curtailed the quantum of discount to around 21% compared to about 32% last year, during mid-end December, as it wanted more consumers to purchase products on full prices.

“Since our discounts are lower this year our bottom line is better this end of season sale (EOSS),” Dubey said.

This year, many fashion brands had advanced their EOSS in a bid to capture the Christmas and New Year shoppers.

“Once somebody advances a particular sale, others follow and same thing has happened this time too,” said Vasanth Kumar, CEO of Dubai-based Lifestyle department store chain.

A day before Christmas, there were long queues at various stores including Zara and M&S in Ambience Mall in Gurugram where the mall said footfall has been up by about 20% this year.

“Footfalls have been up since December 23 when school vacations started,” said Arjun Gehlot, director of Ambience Group that runs malls in Gurugram and Vasant Kunj.

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