India’s retail industry is undergoing a dramatic transformation as the masses are scampering to shopping malls and foreign investors are poised to move in ever ready to sweep them in to the retail bosom. Citiyplaza in Taikoo Shing is a typical example of shopping mall acting as the centre of the residential development Figure 10. In the beginning, retail merchants were doubtful about opening their shops in the outlying places, as we discussed in the last section about the first department store moving into the New Town Plaza in Sha Tin.
Phase one of Dubai’s new luxury outlet mall opened its doors in early September 2016 with 1.5 million square feet of retail space that includes three department stores, over 125 brands (with more on the way) as well as premium food and beverage outlets to help fuel a full day of shopping.
The mall contains sufficient space for as many as 2,350 stores in approximately 659,612 square metres (7,100,000 sq ft) of leasable space and 892,000 square metres (9,600,000 sq ft) of total only problem with the New South China Mall is that it’s almost completely empty and South China Mall is the largest shopping mall in the world would draw an average of 100,000 customers per day.
When the shopping mall format was developed by Victor Gruen in the mid- 1950s , signing larger department stores was necessary for the financial stability of the projects, and to draw retail traffic that would result in visits to the smaller stores in the mall as well.
India retail industry is reflected in its sprawling shopping centers, multiplex- malls and huge complexes offer shopping, entertainment and food all under one roof, the concept of shopping has altered in terms of format and consumer buying behavior, ushering in a revolution in shopping in India.