Latest news with #RetailLevel-up–TheEntertainmentEdition
Hans India
08-05-2025
- Business
- Hans India
Malls, High Streets Compete as Entertainment Preferences Shift
India's retail entertainment ecosystem is undergoing a significant transformation, with malls, high streets, and standalone experience centers rapidly adapting to evolving consumer demands, according to the newly launched Retail Level-up – The Entertainment Edition report by CBRE South Asia Pvt. Ltd. in partnership with Invest India. The CBRE & Invest India Retail Entertainment Survey 2024-25 blends stakeholder interviews and survey responses from key players, including developers, theme park operators, and family entertainment centre (FEC) providers, offering insights into consumer preferences and sector growth. As per the findings, interactive formats such as bowling alleys, rock climbing, escape rooms, and arcade gaming are drawing higher footfall compared to traditional passive formats like museums or theatrical performances. Among the most frequented options, amusement parks and bowling alleys continue to dominate due to their broader accessibility and deeper market penetration. Child-focused zones, including indoor playgrounds and gaming arcades, are witnessing an uptick in demand, driven by families seeking regular and cost-effective leisure options. Roughly 90 per cent of surveyed individuals expressed willingness to allocate up to Rs 4,000 monthly toward leisure and entertainment experiences, with the Rs 1,000–Rs 2,000 range cited as the most common spend. Respondents from younger age groups particularly favored affordable yet engaging experiences, indicating the need for pricing strategies that balance cost with entertainment value. Additionally, 65 per cent of those surveyed preferred either pure-play entertainment or entertainment paired with food and beverage offerings. Regular participation patterns showed that around 29 per cent engaged in entertainment activities once every three to four months, with stand-up comedy, game arcades, and children's play zones among the top selections. While malls maintain their stronghold in the entertainment landscape, 35 per cent of Gen Z respondents revealed a preference for high streets, and 31 per cent favored standalone centres, pointing to a shift in venue preferences based on convenience and novelty. This evolution suggests a diversifying ecosystem that's no longer reliant solely on traditional mall formats. Anshuman Magazine, Chairman & CEO of CBRE for India, South-East Asia, Middle East, and Africa, noted that entertainment formats are reshaping retail spaces. 'The inclusion of family-centric and experience-oriented zones is redefining mall strategies. Developers now see these entertainment anchors as key components for future-proofing properties through optimized tenant mixes.' Echoing this, Ram Chandnani, Managing Director of Advisory & Transaction Services, CBRE India, pointed out the consistent revenue generation across both metro and tier-II markets. 'Placemaking through experiential dining, green areas, and community spaces is leading to sustained footfall and customer retention. Entertainment zones are not just an add-on—they are central to the consumer draw.' With consumer engagement becoming increasingly experience-led, developers and operators are aligning retail strategies to match this shift.
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Business Standard
07-05-2025
- Business
- Business Standard
Indians seeking newer forms of entertainment activities in malls: CBRE
Indian consumers are increasingly preferring active entertainment and newer activities such as trampoline parks, escape rooms, rock climbing, and AR/VR experiences over passive options, even as traditional amusement parks and bowling alleys remain popular. High streets and standalone experience centres are being equally favoured—especially by Gen Z—and consumers are willing to spend up to Rs 4,000 monthly, with a majority willing to spend in the range of Rs 1,000–2,000, according to a survey by real estate consultant CBRE South Asia and Invest India. A relatively smaller portion prefers passive experiences such as immersive art, art fairs, museums, and theatre, the report said. Ram Chandnani, managing director, advisory and transaction services, CBRE India, told Business Standard, 'Across Indian cities, both high streets and shopping malls have evolved into distinct retail ecosystems. Take Bengaluru, for example—micro-markets like Indiranagar have developed into vibrant neighbourhood clusters, largely driven by F&B.' 'They offer a curated retail experience catering to younger consumers who value not just dining but an immersive outing—grabbing a sandwich, coffee, or enjoying a full meal while shopping. These high streets thrive on proximity to residential hubs and infrastructure, which enhances accessibility and footfall,' Chandnani added. On average, over 65 per cent of respondents preferred to focus solely on entertainment experiences or combine them with food and beverages (F&B), as per the report titled Retail Level-up – The Entertainment Edition. Chandnani also highlighted the growing interest from international entertainment brands, such as the US-based dining and entertainment centre Dave & Buster's, introduced by the Malpani Group. 'High-quality entertainment centres are thriving in both metros and tier-II cities, with leading brands reporting similar revenue performance across these markets. This growth is fuelled by a focus on immersive experiences, as developers invest in placemaking through experiential dining, large-format stores, green zones, and community amenities. Regular events further enhance footfall and customer loyalty,' said Chandnani. Anshuman Magazine, chairman and CEO – India, South-East Asia, Middle East and Africa, CBRE, said, 'The entertainment sector's growth is redefining retail real estate in India. As consumers increasingly seek experiential engagement, entertainment formats—particularly family entertainment centres and children entertainment centres—are becoming critical to mall strategies. We believe the integration of experience-driven formats will be central to the next phase of retail development in India.'
