Authored by- Gaurav Gulati, Managing Director of CCPL, the owning company of EDM
Neighbourhood malls have established themselves as the key drivers in offering rapid, easy, and available shopping experiences to the local communities.
In fact, these malls have grown to be appreciated in every locality through the provision of wide-ranging amenities within easy reach. From having a place to say, “Let’s have a cup of coffee” with friends to go for a quick grocery or household shopping, the neighborhood malls have become the hub of our day-to-day lives.
In metro cities like Delhi-NCR, especially in areas like Ghaziabad, they serve as accessible social hubs where people meet, interact, and enjoy leisure activities.
Over the years, neighborhood malls have steadily increased in Delhi-NCR and have changed the retail landscape in the region. These malls that cater to convenience and community have not only backed the commercial realty growth of areas such as Ghaziabad but reflect consumers’ increasing preference for organized retail environments.
Moreover, fast urbanization and the changes it brings about in social behavior find neighborhood malls serving the needs of residents for a change in lifestyle and immediacy to shopping, dining, and entertainment. These malls boast stunning national and international brand options for dining and lifestyle, and of course, food and entertainment zones catering to families.
Because a neighborhood mall is located close to the residential community, it saves one from travelling all the way to far-off shopping complexes. Such accessibility improves the livability of the place, as core services are close by.
Besides, these malls resonate with the technological revolution, offering technology-competent solutions for urban living. Neighbourhood malls enhance customer satisfaction and increase footfall by integrating AI to analyse shopper behaviour, predict preferences, and optimize store layouts.
Through such technologies, these malls bridge the gap between online and in-store shopping, providing every visitor with a seamless and personalized shopping experience. Also, through extensive renovation, the neighborhood malls emerge with a distinctive design, offering more space and a smoke-free environment, facilitated by a network of elevators and escalators, backed up by an electronically manned computer-operated security system, making it more equipped with technology and digital fronts.
Further, with a focus on supporting the government’s smart city initiative, neighborhood malls keep sustainability at the core of their operations.
Various malls install an advanced RO system to reduce reliance on municipal water, with the refuse from RO treatment used for horticulture. They install sewage and treatment plants to recycle water for irrigation and automated systems like lighting and air conditioning to improve energy efficiency. In addition, these malls reuse construction materials to minimize their carbon footprint. All these measures enhance the mall’s operational efficiency while positioning it as a sustainable shopping destination.
Further, local malls contribute to community interaction. In their various ‘trending’ activities during different seasons, these malls tend to attract huge footfalls where people from all age groups come together. By organizing exhibitions, cultural events, and other activities, the malls become one sort of center of traditional events that allow local visitors and residents to interact with each other and build more healthy community bonding.
What further adds to the appeal of neighborhood malls is the direct contribution of employment and enhancement of economic viability in that area. In such malls, kiosks, shops, or service providers provide ample avenues for local entrepreneurs to set up a base and gain from the footfall and consumer requirements.
In addition, neighborhood malls offer retail space for local businesses and entrepreneurs. In the second quarter of 2024, leasing of retail spaces in malls was up 15%, thereby allowing the smaller business enterprises to go toe-to-toe with the larger brands and helping local businesses grow. By reaching local consumers and enriching their shopping experience with quality products, these malls strengthen customer loyalty and the area’s economy.
Thus, neighborhood malls have emerged as essential hubs in the rapidly urbanizing Delhi-NCR region. From accessible and convenient services and strengthening community engagement to contributing to the growth of the local economy, these malls act as the pillars of urban life, solidifying their role in future urban developments.