Footfalls building up, domestic sales improving: DLF Retail Malls
As the festive season gears up, domestic spending on luxury brands is rising while mall owners are witnessing an increase in footfalls and healthy sales growth. In an interaction with CNBC-TV18, Pushpa Bector, Executive Director, DLF Retail Malls said that the company opened its Delhi malls first and noticed that the domestic consumption was on the rise, especially when it came to luxury brands.
As the festive season gears up, domestic spending on luxury brands is rising while mall owners are witnessing an increase in footfalls and healthy sales growth.
In an interaction with CNBC-TV18, Pushpa Bector, Executive Director, DLF Retail Malls said that the company opened its Delhi malls first and noticed that the domestic consumption was on the rise, especially when it came to luxury brands.
“In festive months, we are seeing both luxury and premium malls doing much better. As things go, we feel that the footfall has reached 50 percent of previous levels. Sales, our anticipation is it should be 70-75 percent in this quarter,” said
According to Bector, the food and beverage space was the most impacted as they declined to 45-50 percent of previous levels. However, spend per footfall has risen.
“The interesting part is that spend per footfall has risen drastically. It has gone up by 160-170 percent which means we are getting more out of every customer who is walking in because there is focused shopping, and focused dining,” Bector added.
Mukesh Kumar, CEO, Infiniti Mall said that they were 100 percent operational barring few stores which got closed down.
“Some of the stores lost their licenses, some had issue with finances, and they are hardly 1-2 percent,” Kumar said.
“As far as occupancy is concerned, we are close to 100 percent barring few which is not allowed by the government. Footfall is building up slowly and in terms of sales there is a very good growth,” he added.
Bector and Kumar also spoke to CNBC-TV18 about the impact on mall business, rental negotiations and demand check during the festive season.
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First Published: Oct 27, 2020 12:26 PM IST
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