With organised retail accounting for just 5 per cent market share in India, there is tremendous scope for its expansion. At least 200 new malls are expected to open across the country in the next two years. However, experts feel the mall format cannot succeed without more innovation.
“There will be more innovation- and theme-based malls. The Dilli Haat format is already entering malls,” said BS Nagesh, vice-chairman, Shoppers Stop.
“There is a need to identify consumers, predict what they will consume and convince them to come to our shopping centres,” said Pranay Sinha, MD, Star Centres, at the India Shopping Centre Forum here.