Sales in top malls still 20-35% less than pre-Covid levels
Synopsis
Mall developers expect consumption to improve through this calendar year, with relaxations in night curfew and operating hours, rollout of Covid-19 vaccination drive, and gradual rollback of density norms in malls.
Mumbai / New Delhi: Sales in top shopping malls in the country in the festive season quarter ended December were 20-35% less than the previous year as the impact of the pandemic continues to sting the offline retail industry.Phoenix said consumption at its retail portfolio was 66% of last year while DLF and Viviana reported sales at 80-85% during the quarter despite festive sales and discounting – events that traditionally attracted shoppers to
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