Innovate . Differentiate . Accelerate .

India's retail sector in 2022 and beyond

September 12, 2022
  • Shweta Kakkar
  • Abhishek Vohra
  • Tirthankar Basu

The organized retail landscape of India is evolving rapidly to align itself with the changing market dynamics. Led by strong consumer demand, footfall and sales are seeing a significant increase in retail developments. Malls are re-inventing themselves as there has been a rise in online retailing and shoppers are seeking differentiated experiences and excellent amenities. There has been an emergence of newer formats and categories by retailers. In addition to the progress witnessed in the top 7 cities, tier 2 and 3 counterparts are also rapidly emerging as growth corridors for the retail segment. All these positive factors have propelled strong leasing momentum and new store launches by both national and international retailers.

Institutional investment in the retail sector has shown a growth trajectory with more than USD 862 million (excluding portfolio deals) recorded from 2021 till the first half of 2022. The investment in retail developments is also leading to the upgradation of existing malls and the adoption of best practices in operations to stay relevant.

This report provides insights into some of the key trends in the retail segment and shopping malls. Led by a buoyant demand, a robust supply pipeline by established developers is expected to get operational by 2025. More than 70 shopping malls encompassing a total retail space of 31.02 million sq ft are expected to become operational during this period across the top seven cities of India.

It is seen that superior-grade malls are preferred by both consumers and retailers. Therefore, there is a widening gap between vacancies in superior and average malls, leading to vacancy polarization. One of the trends seen in shopping malls is the growing importance of F&B in terms of space allocation as well as diversity in formats and cuisines curated by the developers to increase the footfalls and dwell time of the shoppers. 

We have seen that the retail component in mixed-use projects is not only limited to amenities serving the needs of the building occupants but also has the potential to evolve into destination-oriented retail developments. An eclectic mix of retail adds vibrancy to the office project, thus uplifting the overall development. We hope this report provides you with insights to make more informed retail and real estate decisions with a special focus on redefining the customer experience and placemaking initiatives.

Fill out this form to download report

There was an error submitting the form. Please try again.


Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of downloading materials you have requested.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Let’s find a home that works for you.

Whether you’re looking for an apartment in a city-centre or a suburb, you can rely on us for superior service and for our end-to-end solutions. We’re simplifying home search for you. Click here to experience it.