Developers of shopping malls who were shying away from Bangalore's high-streets are now returning to establish their presence. The city, presently having six operational malls, is likely to see 30 more by 2009.
The key reason attributed for this development is that the presence of a mall within an established high-street has increased the retail appeal and attractiveness of the entire stretch and allows malls and high-street to equally benefit from a growing footfall base of consumers flocking to such a street, and also shoppers find a combination of both high-street retailing and climate-controlled shopping in new malls.
The development is coming on the success of high streets (M G Road, Brigade Road and Commercial Street) and malls (Garuda, Sigma and Central) all complementing each other within 1.5-2 kms radius in the city centre.
"Though it is early days, the initial evidence shows Bangalore is likely to see more malls which does suggest that departmental stores as well as malls and high streets can indeed play to each others strengths," said Shubranshu Pani, managing director-retail services, Jones Lang LaSalle-Meghraj (JLLM).
"The city has six operational shopping malls, which are expected to rise to over 30 by 2009. Interestingly, most of the new malls have been able to establish themselves well and have been successful in attracting consistent footfalls," he added.
The young, upwardly mobile consumer base of Bangalore has been patronising the city's prime shopping areas such us Brigade Road, M G Road, Commercial Street, Vittal Mallya Road and 100 Feet Road Indira Nagar.
Sharing study of three high streets of Bangalore - Brigade Road, Commercial Street and 100 Feet Road in Indira Nagar in JLLM's report on