JLL Releases New Report at CII India Retail Conclave 2017

International property consultancy JLL India released its latest research report on the Indian retail real estate landscape at the CII India Retail Conclave 2017 in Delhi today. JLL India was the official Knowledge Partner for this event – which was, as always, attended by the Who’s Who of the Indian retail industry.

Entitled ‘India Retail: Change is the New Constant’ the report studies the latest trends and approaches driving this sector in India and globally. It also examines the new regulations and policies which are reshaping the way retail business is done in the country, the rapid-fire impact of technological innovations and the brands which have adopted technology to best advantage.

Pankaj Renjhen, Managing Director – Retail Services, JLL India said, “We are seeing an unprecedented pace of evolution in Indian retail, with proactive government policies improving the ease of doing business here and thereby attracting more Foreign Direct Investments as well as international brands into the country. This report encapsulates the latest trends and takes a close look at what the future holds for Indian retail, especially in the light of the rapid innovations in technologies which are bringing retailers closer to their customers than ever before.”

Report Snapshots:

• Completions and mall withdrawals recorded across the country in 1Q17, and impact on total retail stock
• Primary factors resulting in mall failures
• Mall vacancy rates and rental value appreciation in cities like NCR Delhi, Mumbai and Pune
• Impact of increased Private Equity interest on the back of eased FDI norms for single-brand retailers and an updated framework for REITs
• How retail spaces are adapting to an increasingly virtual world
• E-commerce impact on physical store space demand
• International retailer expansion

Impact of:

• Urbanization & population growth
• Information explosion
• Responsible retailing
• Multi-speed economic growth
• ‘Big data’

The report comes to several key conclusions. Among these is the fact that with the need to merge online experiences with offline ones, the future of Indian retail will depend on how consumers evolve and retailers adapt. It also observes that the redefinition and reinvention of retail spaces in India to suit the needs of the younger generation is a phenomenon being witnessed in major retail markets across the globe.