Business EconomyPosted at: Jul 11 2024 10:17PM


Bengaluru's retail growth projected to double by 2030

Bengaluru, July 11 (UNI) Bengaluru's retail sector is poised for a dynamic transformation, with projections indicating a substantial growth to 20-30 million square feet by 2030, a remarkable 1.4 times increase from current levels.
This surge is fuelled by escalating demands in fashion & apparel, entertainment, and food & beverage sectors.
Since 2013, Bengaluru's retail landscape has more than doubled, soaring from 7.2 million sqft to over 16 million sqft by June 2024, now standing prominently as India's second-largest retail hub.
The city's retail success story is underpinned by the rise of major malls, heightened consumer awareness, increasing disposable incomes, and a preference for well-organized shopping experiences, driving an annual absorption rate of 1.5-2 million sqft.
Bengaluru leads the nation in Retail REIT malls, hosting three of India's 17 listed malls. Annual demand is buoyed by thriving sectors such as entertainment, fashion and apparel, and homeware and department stores, concentrated in key micro-markets across North and South Bengaluru.
The influx of international and luxury brands has further enriched Bengaluru's retail landscape, solidifying their presence in both malls and trendy high-street locations.
Looking forward, Bengaluru's high streets are evolving into vibrant shopping hubs, attracting a diverse array of national and international brands.
Enhanced infrastructure, improved parking facilities, and captivating storefront designs are enhancing the overall shopping experience for consumers.
Future growth prospects are promising, particularly in micro-markets like Bellary Road, Yelahanka, and Sarjapur Road, bolstered by ongoing metro expansions and other infrastructural developments.
With supportive policies and robust infrastructure initiatives, Karnataka is set to fortify Bengaluru's commercial and residential sectors, extending its economic influence beyond city limits to neighbouring Tier-II cities.
UNI BDN SS
Please log in to get detailed story.
Tags: #Bengaluru's retail growth projected to double by 2030
More News
Sensex crashes by 895 43 points

Sensex crashes by 895 43 points

13 Jun 2025 | 10:19 AM

Mumbai, June 13 (UNI) The BSE Sensex on Friday crashed by 895.43 points to 80,796.55 in early trade, as Israel’s military strikes on Iranian nuclear facilities sent shockwaves through global markets, triggering a risk-off mood across asset classes and amplifying domestic concerns following the fatal crash of an Air India Dreamliner.

see more..

Anupam Rasayan India Ltd signs MPA with a Japanese Multinational Conglomerate

12 Jun 2025 | 9:03 PM

Mumbai, Jun 12 (UNI)Anupam Rasayan India Ltd on Thursday said that it has signed a long-term Master Purchase Agreement (MPA) with a Japan-based Multinational Conglomerate., a global leader in fluorochemicals and advanced technology solutions.

see more..

Torrent Green Energy wins 300 MW wind project

12 Jun 2025 | 8:21 PM

New Delhi, June 12 (UNI) Torrent Green Energy Private Limited, a wholly owned subsidiary of Torrent Power Limited, has bagged a 300 MW wind power project under the Wind Tranche-XVIII auction conducted by the Solar Energy Corporation of India (SECI).

see more..

Flipkart and Telangana govt host workshop on ‘e-Commerce for Meeseva representative'

12 Jun 2025 | 6:21 PM

Hyderabad, June 12 (UNI) Flipkart, India’s homegrown e-commerce marketplace, in collaboration with the Government of Telangana, conducted a workshop here on Thursday aimed at equipping MeeSeva representatives with the knowledge and skills required to facilitate market access for local businesses through e-commerce.

see more..

Hyd: Cyient partners with MIPS to develop ASIC and ASSP solutions

12 Jun 2025 | 5:26 PM

Hyderabad, June 12 (UNI) Cyient Semiconductors Private Limited, a fast-growing custom silicon company based in Hyderabad, and MIPS, a global leader in RISC-V processor IP, on Thursday announced a strategic collaboration to develop domain-optimized ASIC (application-specific integrated circuit) and ASSP (application-specific standard product) solutions that leverage the MIPS Atlas portfolio of advanced, efficient processor IP.

see more..