The new trends shaping up in the retail segment are dominated by evolved lifestyle choices of consumers, technology transformation, increased focus on health, wellness, and safety, and the desire for an indulgent shopping experience. The demand for organized retail in India is constantly on the rise and the customers are now actively preferring shopping destinations that are easier & more convenient, tech-savvy, and most importantly provide everything under one roof. Also, organized retail spaces redefine the shopping experience for customers by offering an array or wider selection range of products at a single stop in an enhanced shopping environment that is safe and advanced.
A shining example is the development of Omaxe Chowk- a multilevel parking cum commercial destination in the heart of Delhi. It is being developed in partnership with North DMC in Chandni Chowk which is Asia’s oldest and largest retail hub that experiences more than 5-6 lakh, serious shoppers, daily. It is going to provide ultra-modern retail spaces, the biggest food court, shops with state-of-the-art amenities in an area spread over 4.6 acres. The project will not only enhance the shopping experience with dedicated space for jewelry, food capital, flash retail space, funtainment zone for kids, and others but will also make it hassle-free with a multi-level car parking space that can hold 2100+cars and 81+ tourist buses. To make connectivity to all floors easy, it will come with 17 lifts, modern surveillance and hi-tech safety systems, dedicated space for tourist information, pick & drop for buses, radio, and app-based cab services, and others. With all these features, it will cater to a footfall of customers which is 7 times more than any other mall in Delhi.
Such organised retail development is catching the fancy of policymakers, private developers and investors & shoppers alike. Located in the midst of a thriving marketplace, such organised development not just help in enhancing the shopping experience but also is an opportunity for policymakers to create asset classes out of utility facilities like parking. The presence of a thriving marketplace will give mall developers a foot in the door with the presence of lakhs of visitors already visiting these markets. A mall will only garnish the overall aesthetics of the place, enrich the experience and bring about a transformation in the cityscape.
No doubt organized retail will redefine the shopping experience in India with more convenience and value. Owing to advantages, the segment has expanded significantly and it will continue to grow.
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