‘Online offers convenience, but malls deliver experiences that digital platforms can’t’

Bengaluru: From seasonal shopping festivals to immersive experiences, concerts and sneaker culture, India’s malls are evolving into lifestyle destinations as consumer preferences change and quick commerce reshapes retail. In an interview with DH’s Hrithik Kiran Bagade, Nexus Malls Chief Marketing Officer Nishank Joshi talks about the evolution of mall culture, the growing importance of Tier-2 cities, changing consumer behaviour and the rise of experiential retail. Edited excerpts:Malls have changed dramatically over the years. How has that evolution taken place?Earlier, it used to be just a few days of eventing — summer sales, Christmas and Deepavali. Today, it has evolved into something very different. We are experimenting with thematic events, concerts, stand-up comedy and experiential retail, with things like anamorphic signages. We have created our own IPs around sneakers and street culture because that’s what consumers are following today. At the same time, some ideas have come back in vogue. Years ago, I had done a live boxing tournament and we recently brought live boxing back at one of our malls. That’s the nature of this business. As consumers travel more and become more aware of global shopping trends and experiences, we also have to evolve and keep changing the game.Flash mobs were once a major attraction in malls. Why don’t we see them as often now?Everything works in cycles. When something becomes too predictable, people feel they have already seen it. Flash mobs will come back. The difference is that abroad they were executed much better. They were filmed from multiple angles and created content that lived on social media long after the event. In India, they largely remained performances for that particular day. If you keep innovating and changing the format, these experiences will always find a way back.How has the retail mix inside malls evolved?D2C brands are now ruling the hearts of youngsters. They grow online, but eventually they reach a stage where they want a presence in malls. Jewellery has become a very important category because of the trading density it offers. F&B has always been a crowd puller and continues to remain strong. Cinema is cyclical, but over the last couple of years, it has come back well. Regional cinema has done something Bollywood has not been able to do — it has broken barriers and found audiences across the country.FM Sitharaman lands in US for six-day visit for G20 talks and meeting with business leadersHas quick commerce changed the way malls operate?Yes. The one category that has clearly reduced is groceries. Supermarkets have become smaller and, in a couple of our malls, we don’t have them anymore. Quick commerce has really made a difference.Nexus has a strong presence in Tier-2 cities. How are they different from metros?In cities like Bengaluru, Mumbai or Delhi, traffic naturally limits your catchment area. People usually come from within 3-5 km. In Tier-2 cities, it’s completely different. When you introduce organised retail and high-quality experiences, the entire city becomes your catchment. Whether it is Mangaluru, Mysuru, Bhubaneswar, Amritsar or Udaipur, people don’t mind travelling because they know they will get the same quality of brands, merchandise, service, hygiene and experiences that they would expect in a metro. That’s why, wherever we are present in Tier-2 cities, we have become the top mall in that city.Why has experiential retail become such an important strategy?A large part of India still shops through touch and feel. Online offers convenience, but malls can deliver experiences that digital platforms cannot. We have done immersive experiences like the Van Gogh exhibition, live boxing, Disney-themed events, dragons and dinosaurs, AR and VR experiences, and anamorphic signages. A sneaker festival today is not just about discounts, but about customisation, hip-hop, rap battles, basketball, and understanding the entire sneaker culture. You have to understand how the consumer is evolving and deliver experiences that actually resonate with them.Are these experiences replicated across all your malls?Not necessarily. It depends on the size of the mall and what best suits that market. Some experiences travel across all properties, while larger concerts or immersive events happen in malls that have the space for them. Even smaller malls host regional concerts and community events. The idea is to deliver the right experience for that consumer.What has been the biggest lesson from the past decade?The consumer has evolved brilliantly and expects more today. The youngsters visiting our malls today are the shoppers of tomorrow. We have to strike a balance between someone who is 60 years old and someone who is 18. Our journey has been about understanding the consumer, evolving with them, and delivering experiences that continue to resonate with them.

Source: Deccan Herald