According to Jones Lang LaSalle, Indian retailers are keenly eyeing tier-2 cities to cater to newer and wider customers. These cities are emerging lucrative locations as retailers/brands are attracted by the increasing incomes and rising brand awareness among consumers there. Also, a substantial number of shopping malls are being planned or are already under development in these cities. Click on next slide to view the list of the top 6 cities retailers are looking out for.
Kochi The retail activity in the spice city of India has traditionally been concentrated on a central high street, with M.G Road being the dominant retail corridor. The other emerging retail destinations in Kochi include Marine Drive, Vytilla Junction, Palarivattam and Edapally. Shopping malls are also emerging in areas such as Maradu and Edapally. The Upcoming mall developments include Lullu Mall, among others.
Jaipur Jaipur has progressed tremendously on the retail front, and is considered one of the most important emerging retail destinations of North India. It has shopping malls with multiplexes operational at various locations in the city. Organised retail has come up and is proliferating in areas such as Tonk Road, Malviya Nagar and Ajmer Road, among others.
Indore Traditional high streets that flourised by selling traditional glass bangles and leather, still dominate Indore's retail landscape but it is gradually yielding market share to organised retail with the arrival of new malls and shopping centres in the city. M.G Road along with Jawaharlal Nehru Road was traditionally Indore's retail hub before the emergence of markets adjacent to Palasia Chauraha and Bombay Hospital.
Ludhiana Ferozpur Road is the main growth corridor for retail in Ludhiana; consequently, it has seen the highest incidence of major organized retail developments with Ansal Plaza, Flamez Mall and Westend Mall. Over time, various national and local developers have entered the market - these include Ansal API, DLF, MBD Group, Omaxe and Chadha Group.
Udaipur: The traditional retail destinations of Udaipur include Bapu Bazaar, Chetak Circle, Suraj Pole, Nehru Bazaar, Bada Bazaar and Chand Pole. Organised retail is also widespread throughout Udaipur, with Durga Nursery Road, Shakti Nagar and Sudkhadia Circle having the largest concentration of new entrants. Shopping mall developments are beginning to make their presence felt in Udaipur, in light of the growing demand among local consumers for a modern shopping experience.
Nagpur India’s orange city-Nagpur’s unorganised retail has more or less always existed in areas such as Itwari and Sitabuldi, and in western part of the city. The city’s established prime retail areas include Dharampeth, Ramdaspeth, Gokulpeth, Central Avenue, Gandhibagh and Sadar. Shopping malls are also operational in Nagpur, and a lot of retail brands are entering there. Presently, Central Nagpur is a noteworthy retail destination in terms of shopping mall developments - however, both West and South Nagpur are rapidly emerging as the next generation retail hubs.