Disinfection Tunnels, Fewer Food Court Seats: Delhi Malls Plan Reopening

Sales up over a fifth year-on-year, spurred by attractive discounts by retailers and due to SRK blockbuster
Writankar Mukherjee & Faizan Haider (THE ECONOMIC TIMES; January 28, 2023)

Republic Day sales increased more than a fifth year-on-year, spurred by attractive discounts and the release of Shah Rukh Khan-starrer Pathaan, which ensured additional footfall in shopping malls, said industry executives.

The increase in sales in the three days leading to Republic Day indicates an improvement in consumer sentiment and discretionary spending, which saw a lull for about three months after the festive season, they said. Republic Day sales, promoted by retailers in the past 15 years, have emerged as the largest consumption event in the country after the festive season.

Retailers said the sales boost will last at least till this weekend, as retailers extend the R-Day offers and Pathaan continues to draw crowds. "We saw triple digit sales growth against last year due to the low base of the Omicron wave. However, even when compared with 2021, sales were strong and we were able to liquidate most of the stock that we had," said Devarajan Iyer, CEO, Lifestyle International. "The release of Pathaan brought higher footfall to malls which helped retailers and food service players in terms of boosting demand further."

Big discounts on offer
Anjan Chatterjee, managing director at Speciality Restaurants, said the combination of Pathaan and Republic Day offers drove consumers out of their homes, leading to a 25-30% boost to restaurant business over last year. "We are sure this euphoria will continue at least for a week," he said. Speciality Restaurants operates more than 100 outlets.

Most apparel retailers offered higher discounts during this period, while consumer electronics and appliance companies launched special promotions to drive sales.

Pathaan set a new record for Hindi films, becoming the first film to cross Rs. 100 crore in box-office collections globally on the opening day.

Rajendra Kalkar, president-west at Phoenix Mills, which operates more than half-dozen malls in Mumbai, Pune and Bengaluru, and in some tier-2 cities, said Pathaan has become a crowd puller and customers are planning their day at the mall as per the availability of the movie.