Community, Convenience and Experience Emerge as Key Drivers of Mall Success in India, Say Leaders at PRC 2026

 

Industry leaders at PRC 2026 discussed how community-led engagement and evolving consumer aspirations are redefining the future of shopping malls in India

Mumbai, 13 May 2026: India’s leading mall developers and retail experts believe the next phase of organised retail growth will be driven by immersive experiences, strong community ecosystems, technology integration and the rapid rise of aspirational consumers across Tier-2 and Tier-3 cities.

These insights emerged during discussions on Day 1 of the 7th edition of the Phygital Retail Convention (PRC) 2026, being held on 13-14 May at the Jio World Convention Centre, Mumbai. 

Speaking about what defines a successful mall in 2026, Rajneesh Mahajan, CEO, Inorbit Malls, said consumers today seek much more than just physical infrastructure. “A successful mall today is defined by the quality of infrastructure, strong vibes and the buzz consumers feel even when the mall is empty,” he said. He added that malls are no longer built only with “sand, cement and bricks” but increasingly require technology, customisation and instant gratification to stay relevant.

Luxury retail and community-building also emerged as key themes during the discussions. Pushpa Bector, Group Executive Director & Business Head, DLF Retail, said Indian consumers are increasingly choosing to shop luxury within the country as brands now offer better pricing, merchandise and service experiences locally. “Consumers today discover digitally but prefer shopping physically. More people want to be part of micro communities and experience-led ecosystems,” she said. 

Industry leaders also highlighted the growing potential of smaller cities in driving organised retail growth. Abhishek Bansal, MD, Pacific Group, said developers today think like both retailers and real estate players while evaluating new markets. “Consumption today is driven by aspiration and accessibility. If the right product is brought to the right city, there is no dearth of demand,” he said. 

Echoing similar views, Harsh Vardhan Bansal, Co-Founder, Unity Group, said malls today have evolved into lifestyle and community destinations rather than just shopping centres. “It is not only about brick and mortar anymore. Activities, events and the right retail mix are what create stronger consumer engagement,” he said, adding that celebrations and community-led events are increasingly driving repeat footfalls.

On the role of experience-led retail, Shibu Philips, Director, Shopping Malls, Lulu Group India, said malls now need to offer compelling reasons for consumers to step out of their homes. “Convenience has already been taken over by online platforms. Our job now is to create experiences that encourage consumers to come to malls,” he said. Philips added that understanding local culture and consumer preferences across cities is critical in curating successful shopping destinations in India’s diverse retail landscape.

Earlier in the day, PRC 2026 sessions explored themes around AI-led transformation, experiential consumption and the rapid evolution of India’s retail landscape. Rajesh Jain, MD & CEO, Lacoste India discussed India’s expanding consumption economy and the opportunities for Indian brands, while Mallikarjuna Reddy Yarabolu, MD, De Beers, and Rajat Agrawal, CEO, Barista, spoke about luxury growth and experience-led consumption trends shaping the sector. 

The day also witnessed the launch of the report Leasing Trends in Premium Malls in Major Indian Metros, published jointly by IMAGES Group and ANAROCK. The report was unveiled by Anuj Kejriwal, Founding Partner & CEO – Retail and CEO – Europe, Middle East & Africa, ANAROCK, along with Amitabh Taneja, Chairman & Managing Director, IMAGES Group. 

Organised by IMAGES Group under the theme ‘The Great Indian Bazaar: A Global Growth Engine’, the PRC 2026 is bringing together over 3,000 attendees, 1,000+ brands and retailers, and 300+ industry leaders across sessions focused on retail real estate, technology, omnichannel retail and consumer trends.

Image Caption: Sagar Daryani, Co-Founder & CEO, Wow! Momo; Abhishek Bansal, MD, Pacific Group; Harsh Vardhan Bansal, Co-Founder, Unity Group; Mukesh Kumar, CEO, Malls & Business Head, New Businesses, K Raheja Realty; Peayush Agarwal, CEO, Smarr Realty; Pushpa Bector, Group Executive Director & Business Head, DLF Retail; Rajneesh Mahajan, CEO, Inorbit Malls; Shibu Philips, Director, Shopping Malls, Lulu Group India