What is driving the rise of High Street Retail in India? | Financial Express
High street retail, characterized by its open-air environment and direct street access, has historically been the bustling heart of urban commerce in India. Iconic areas like Connaught Place in Delhi and Colaba Causeway in Mumbai epitomize this vibrant culture. However, the advent of shopping malls transformed the retail landscape by centralizing shopping, amenities, and entertainment. Despite this shift, high streets have evolved to offer unique consumer experiences, blending convenience with a mix of mid to luxury brands.
Examples include Khan Market in Delhi and Kala Ghoda in Mumbai, illustrating their role as not just shopping destinations but vibrant community hubs. According to Cushman & Wakefield, India currently has 13.2 million sq ft of high street space, significantly less than malls occupying 93 million sq ft, highlighting the rising demand for high street retail amidst a predominantly mall-focused market.
