Bangalore emerging as city of malls

Bangalore emerging as city of malls

Bangalore emerging as city of malls

31 new malls to be developed in phased manner to cater to rising shopping culture.

For Rebecca Rassendren, 25, a typical urban shopper, no trip to Bangalore, no matter how brief, is complete without her visiting several footwear shops on Commercial Street, Brigade Road and the malls — which are rapidly becoming the shopping venue of choice for urbanites.

According to sources in the industry, a total of 31 new malls will be added to the existing 25 in the City in the coming months in a phased manner. Almost all major builders such as Prestige, Puravankara, Sobha have drawn up plans to establish such commercial spaces, sources said. 

But an analysis of shopping trends reveals that apparel remains the hottest-selling commodity lapped up by consumers today. Ask the shopkeepers. “Nothing sells like chappals and clothes,” they say. According to a break-up from analysts: An average of 54 per cent of shops on Bangalore’s high streets sell footwear and apparel. The number of malls, which are likely to double, is all set to increase the commanding share enjoyed by apparel stores.

15 more malls

According to a recent study by Vestian Global Workplace Services Private Limited, there are 15 malls under-construction in the City, and are likely to be completed soon. Another 16 are being planned on top of this.

“Of the 15 malls currently being built, two (Suraj Cambridge Mall and Embassy Galaxy Mall) are in the central business district, while four (Vega Mall, City View, Orion Mall-2 and World GT Mall) are in the secondary business district,” the study reveals.

The remaining nine –– Grand Mall and Towers, Virtuous Xander Mall, Forum Shantiniketan Mall, Salarpuria World Market, Neo mall, Gardens Galleria, Vaishnavi Sapphire, MSR Regallia Elements and RMZ Galleria — are in the peripheral business district.

The central business district is dominated by Brigade Road, Commercial Street and other locations in the immediate vicinity. The secondary business district includes areas such as the Indiranagar 100 Feet Road, Jayanagar 11th Main Road, New BEL Road and Marathahalli.

Furthermore, speaking about the concentration of footwear and apparel stores on high streets, the study points out that Commercial Street has the maximum concentration of footwear stores, constituting 74 per cent, compared to Brigade Road (53 per cent), Lavelle Road and Vittal Mallya Road (33 per cent) and Indiranagar 100-ft Road (37 per cent).

In stark contrast, bookstores and stationery shops seem to be one of the least preferred businesses, constituting an average of only four per cent.

The food and beverages sector occupies 16 per cent of space on high streets, followed by electronics and white goods (nine per cent), personal care/watches and jewellery stores (seven per cent), automobile showrooms (three per cent) and others (seven per cent).