|Price||Check with seller|
|Date Published||January 25, 2023|
|Number of Visits||9|
What the state of Madhya Pradesh missed all along was a high-fashion and one-stop destination experience. With Phoenix Citadel rising in the city of Indore, high-end shopping gets a new address. The destination mall has thrown open an unparalleled one-stop shopping and entertainment experience in a modern, highly-pleasing environment, delivering positive outcomes to all stakeholders.
Phoenix Citadel, the newly launched mall at Indore in Madhya Pradesh, reflects shopping in a large-scale consumption centre offering high-fashion brands and a one-stop shopping destination with diverse F&B options and exceptional entertainment preferences. The mall is a destination where people congregate not only to shop from high-fashion designer stores. At Phoenix Citadel, you can get a bite at the snack bar or candy store, or shop for groceries at the supermarket, while your kids work up an appetite at the family entertainment centre that has TimeZone or FunCity.
The impact that Phoenix Citadel is already having on the state of Madhya Pradesh is truly sublime and fantastic. The destination mall offers a well-balanced, incredible and comprehensive one-stop shopping, food and leisure experience to locals, presenting an enchanting hub. The mall remains committed to intensive urban activity where the city's shoppers gain new experiences, new surprises, a change of pace and a change of ambience.
Phoenix Citadel is truly a mall delivering positive outcomes to all its stakeholders on a long-term basis. Whether they are consumers, retailers, communities, the environment or the nation. Our insights help us understand what motivates each of these stakeholders to visit the malls, stay longer and return more often.
Consumption across all the categories continued its upward trajectory, a testament to the leadership position of Phoenix Group’s retail destinations, with 6.0 million sq. ft. spread across 9 malls in 6 gateway cities in India. Apparels, Fashion, Hypermarkets and Department Stores have registered growth since the mall’s operations started in December 2022, largely driven by new-store openings and strong same-store-sales growth across the category. Trading density, which is consumption per square feet of carpet area, also increased.
How we Benefit all our Stakeholders
Consumption is one of the key themes driving a vibrant economy like India and making it resilient to economic cycles. The geographic pattern of India’s income and consumption growth is fast shifting. The high-fashion market is taking aspirational spending to its natural conclusion, while discretionary spending is also rising by leaps and bounds.
Rising Consumption in India
Following the period of upheaval post-COVID, India’s retail malls are witnessing an accelerated rebound in footfalls, conversion into revenue and higher occupancy levels. According to a BCG-RAI report titled ‘Racing towards the next wave of Retail in India’, the retail industry in India is on an upswing and is set to record an annual growth of 10% to reach approximately US$ 2 trillion by 2032, contributing the most to the Indian economy. From shopping to F&B and entertainment, health and wellness to gaming, malls deliver fulfil customers’ demands and deliver engaging and seamless experiences.
To know more: https://www.phoenixcitadel.in/blogs/delivering-positive-outcomes-to-our-stakeholders