By Mr. Ashish Bhutani, CEO, Bhutani Group
It’s fascinating to watch how the retail landscape is re-inventing itself. Not just shifting, but going through something like an architectural metamorphosis. We are now entering the exciting era of Retail Real Estate 2.0, where the traditional shopping model is evolving to embrace a more experiential, customer-centric approach. The shift is evident, and the numbers are telling a compelling story. Retail space absorption in India’s major cities reached an impressive 3.2 million sq. ft. in the first half of 2025, driven primarily by the addition of new, high-quality supply in investment-grade malls, according to a recent CBRE report. This growth reflects the increasing demand for innovative retail environments that offer more than just shopping—it’s about creating engaging experiences that resonate with today’s consumers.
What’s truly interesting is how the tenant mix has changed. Entertainment and F&B brands are demanding much larger spaces, in some cases taking up more than expected of total mall area in prime developments. It shows that consumers are no longer visiting malls only to buy something; they come to feel something. This growing desire for integrated lifestyle ecosystems is the reason our projects focus not only on retail infrastructure but on building multi-use destinations that can hold people’s attention for an entire day.
Consumers have changed with time. They need best of both worlds now. Be it online or be it Offline experience which gives them chance to see shopping, entertainment, cultural activities under one roof. This is where the beauty of physical experiences really shines—combining the digital world, such as AR-driven apps or social media pop-ups, with the physical setting of a thoughtfully crafted retail environment.
Then there is the rise of the family entertainment centre and other niche attractions. This trend has completely changed how we look at mall design. Now it is the main attraction, the anchor that draws visitors and lifts overall footfall across the property. When people stay longer, they spend more. It is simple economics, enhanced by clever design. These are not just commercial properties; they are living environments that bring people together and make memories.
Families now treat malls as cheerful spaces to unwind, browse around, and share memorable moments. This very shift is giving rise to the Experiential Hub. We are converting basic shopping corridors into full-scale lifestyle destinations that combine every piece of modern living offices, fine dining, leisure zones, and high-street retail. When a grade-A office tower stands right beside a top-tier destination mall, as in our mixed-use developments, it naturally attracts steady, high-quality footfall every single day of the week. It becomes a self-contained ecosystem. The idea is to design spaces that serve an entire day’s needs, an entire family’s routine, and an entire community’s aspirations. This clarity of vision and the belief that Retail Real Estate 2.0 is about experience, integration, and belonging will define the difference between a lasting landmark and a short-lived shopping complex.
