Goa: The retail real estate industry came together in Goa for one of its most forward-looking events—Shopping Centres Next (SCN) 2025. Hosted by the IMAGES Group, SCN has cemented its reputation as India’s leading platform for stakeholders across the shopping centre ecosystem.

Held over two days at the Grand Hyatt (July 23–24), the event welcomed 500+ professionals, 200+ brands, 100+ speakers, and more than 10 powerful sessions—all exploring the central theme: “What’s Next for India’s Malls?” Discussions were driven by key trends, including the rise of Tier 2/3 markets, institutionalisation of retail assets, AI-powered retail planning, and the evolving role of malls in the digital era.

This edition spotlighted a critical shift: malls are no longer just shopping hubs—they are evolving into immersive, cultural, and community-centric environments. The agenda reflected this transformation, with deep dives into changing consumer behaviour, technological advancements, innovative design, sustainable practices, and new economic models shaping the future of retail real estate.

In his welcome address, Vineet Chadha, COO – Retail, IMAGES Group, set the tone for the event by highlighting the urgency of reinvention. “SCN 2025 is about shaping shopping centres into iconic lifestyle and social destinations. Thank you to DLF Malls and all our partners for supporting this vision. Together in Goa, we celebrate the power of experience, engagement, and imagination to redefine the future of India’s cities and retail.”

The event’s inaugural session—“Recode the Mall: Purpose, People, Possibility”—brought together some of India’s most forward-thinking leaders in mall development and investment. Discussions focused on how malls can move beyond footfalls and rentals to become immersive, multifunctional destinations that resonate with today’s and tomorrow’s consumers.

Pushpa Bector, Sr. Executive Director & Business Head, DLF Retail, emphasised a consumer-first approach to mall creation, “Mall development today is both an art and a science. At DLF, we begin every project with a deep understanding of consumer catchments, brand preferences, and behavioural data. From connectivity to sustainability, every element is engineered for experience. Mixed-use formats are the future, and the customer remains at the heart of every decision.”

Abhishek Bansal, Executive Director, Pacific Group, added, “Designing and managing malls around ‘experience per square foot’ has been a proven formula for us. It’s not just about retail; it’s about creating emotionally resonant environments built on the right brand mix, insights, and culture.”

Rajneesh Mahajan, CEO, Inorbit Malls, reflected on the blurring boundaries between asset classes and the growing role of design and service. “As mall developers, we now focus on three key pillars—strategic positioning, operational excellence, and design aesthetics. Today, a mall must offer more than functionality; it must inspire and connect. With infrastructure and lifestyle converging, customer experience becomes the key differentiator.”

Other sessions, including “Beyond Brick & Mortar: The Future of Shopping Centres” and “Shared Goals, Shared Growth: The New Mall–Retail Equation,” showcased how retail real estate must align with digital evolution and collaborative growth models. The latter session, in particular, explored how the outdated landlord–tenant mindset is being replaced with performance-based, empathy-driven partnerships between malls and brands.

The session “Connected Commerce: From Browsers to Buyers in a Seamless Retail World” explored how malls are evolving beyond traditional physical formats to become integral players in the omnichannel retail ecosystem. The discussion focused on how malls can adopt integrated strategies to bridge the digital–physical divide and drive seamless consumer experiences.

“While the industry continues to discuss omnichannel strategies, true implementation remains complex and evolving,” said Rehan Huck, VP & Head – Leasing, DLF Shopping Malls.

“There are valid concerns from developers around reporting accuracy, POS integration, and ensuring physical stores don’t become mere fulfilment hubs. However, we believe that bridging the digital–physical divide is inevitable and accelerating faster than expected. At DLF, we’ve invested heavily in robust loyalty and tech systems that seamlessly connect multiple malls and consumer touchpoints. While there’s still grey space to navigate, integrated strategies are showing promise, and long-term coexistence is both possible and necessary.”

“Today, malls aren’t just about driving footfall—they’re about attracting relevant footfall,” said Sameer Verma, General Manager, Lulu Mall Lucknow.“The focus is on identifying and engaging the right customers through targeted strategies. At Lulu, our loyalty programme ‘Lulu Happiness,’ with 2.6 million users, gives us deep insights into consumer behaviour—what they buy, when, and from whom. This data allows us to run highly focused campaigns and category promotions. By integrating technology and collaborating with brands on shared insights, we’re bridging the digital–physical divide and creating measurable, meaningful engagement that benefits both retailers and consumers.”

The session “From Empty Units to Engaged Spaces – Reactivating Underperforming Zones in Shopping Centres” addressed the ongoing challenge of vacant or low-performing areas within malls. It explored actionable solutions for transforming these underutilised spaces into vibrant, revenue-generating zones. Discussions centred around innovative approaches such as short-term activations, adaptive reuse, and creative tenant mix strategies—all aimed at boosting footfall, driving engagement, and enhancing the overall customer experience.

SCN 2025 also provided attendees a platform to explore cutting-edge innovations—from AI-powered space planning and sustainable construction models to urban integration strategies and phygital engagement tools. Across all sessions, one idea echoed strongly: malls must embed themselves into the cultural and social fabric of the cities they inhabit.

With representation from top mall operators, real estate investors, retail CEOs, architects, urban planners, and technology providers, SCN 2025 has set the stage for a collaborative, future-forward vision of India’s shopping centre evolution.

India’s shopping centres are evolving at a dramatic pace. No longer just spaces to transact, malls are now experience engines, cultural arenas, social hubs, and data-driven consumption ecosystems. And that’s the story the industry is coming together to explore and co-author at Shopping Centres Next (SCN) 2025, on July 23–24 in Goa.

Organised by the IMAGES Group, SCN is India’s most influential forum for modern retail real estate stakeholders. This year’s theme, infused throughout the agenda, is a directional question: What’s next for India’s malls?

The answers are emerging from a confluence of trends: rising Tier 2/3 aspirations, the institutionalisation of retail assets, AI-driven retail planning, and a radical redefinition of what it means to be a “mall” in the age of connected commerce.

Let’s explore these shifts through a layered narrative inspired by the SCN 2025 agenda.

1. Recode the Mall: Purpose, People, Possibility

In this new era, malls must mean more. The old formula of footfalls and floorplates is giving way to climate-conscious architecture, hyperlocal tenant curation, and human-first design.

Success Story: DLF Avenue Saket redesigned itself from a retail property into a curated social and cultural space, with art installations, pet-friendly zones, open-air courtyards, and a strong emphasis on F&B.

Global Cue: Coal Drops Yard in London redefined mall culture by converting an old industrial warehouse into a high-design retail precinct, where shopping meets storytelling.

Next: India’s future malls will need to prioritise ESG metrics, urban integration, and cultural programming to remain relevant.

1. Shared Growth: From Landlords to Partners

The landlord-tenant equation is being rewritten. Malls and retailers are increasingly entering co-risk, co-reward agreements driven by mutual performance and shopper-centricity.

Case Study: LuLu Mall Lucknow partnered with 40+ tenants on a unified mall-wide festival, which increased weekend footfall by 27% and dwell time by 3x.

Case Study: Pacific Malls created a major industry moment by launching the Pacific Festival of Shopping—a multi-city campaign across its properties in Delhi-NCR, Dehradun, and Jaipur. With over ₹2 crore in prize giveaways, curated weekend carnivals, and gamified app integrations for brand discovery, the campaign delivered 30% growth in weekend footfall and heightened brand visibility for over 100 participating retailers.

Innovative Trend: Revenue-share leasing models, combined marketing campaigns, and shared customer data platforms.

What’s Next: Co-created loyalty programs, unified digital wallets, and deeper brand-mall collaborations on experiential retail.

III. Retail as an Asset Class: The Rise of REITs

India’s shopping centres are becoming institutional-grade assets. REITs like Nexus Select Trust are proving that malls can be stable, income-generating platforms.

Nexus Snapshot:

• 19 consumption centres
• 6 million sq ft retail GLA
• 130 million footfalls
• 2% occupancy
• INR 124 Bn tenant sales (FY24–25)

Next: Expect consolidation of Grade A malls under REITs, more foreign institutional interest, and capital-backed innovation in mall operations.

1. Beyond Brick & Mortar: Format to Ecosystem

Today’s shopping centres aren’t just places to buy—they’re ecosystems that blend retail, dining, co-working, health, and culture.

Case Study: Taurus Zentrum, Thiruvananthapuram is India’s first integrated retail destination located inside a tech park. The larger Taurus Downtown development offers over 700,000 sq ft of gross leasable area with retail, potential hospitality space, convention venues, and SEZ/non-SEZ parcels. This pioneering model brings lifestyle and commerce directly into Kerala’s IT corridor, with built-in customer flows from nearby tech campuses and government offices.

Case Study: Avenue Mall @ Texvalley, Erode stands out as South India’s first and largest outlet mall, spanning over 500,000 sq ft within the 2 million sq ft Texvalley textile hub. Developed by Beyond Squarefeet, it fuses wholesale strength with aspirational retail, offering factory outlets, regional fashion brands, local artisans, F&B, and entertainment. Its curated Independence Day launch is set to mark a cultural milestone for Tamil Nadu’s Kongu belt and a new benchmark in Tier 3 retail transformation.

Case Study: Phoenix Malls activated a mall-wide digital-first experience at Phoenix Mall of Asia in Bengaluru with QR-based rewards, influencer-led soft launches, and a cultural calendar featuring car rallies, stand-up comedy shows, and art installations. The launch phase saw over 20 million digital impressions and a 40% spike in weekday footfall compared to projections.

Global Benchmark: Westfield Century City, LA offers valet parking, rooftop lounges, digital concierge, and event programming to enhance lifestyle relevance.

Next: Mixed-use destinations will dominate; malls will function like mini-cities.

1. Connected Commerce: From Browsers to Buyers

Digital and physical are no longer distinct spheres. Today’s consumer expects to browse online, touch offline, pay anywhere, and receive products everywhere.

Example: Inorbit’s e-Shop initiative lets consumers shop from their favourite mall brands online and pick up in store or opt for delivery.

Global Trend: Malls offering smart parking, AR navigation, mobile POS, and in-mall app integrations.

Next: Shopping centres as omnichannel fulfillment hubs; QR-led discovery in physical aisles; embedded online-to-offline triggers.

1. Reviving the Empty: Activating Underperforming Zones

Vacant zones hurt more than just revenue; they impact shopper perception. Leading malls are responding with creative reuse and short-format experimentation.

Example: DLF Promenade’s Pop Box model cycles through emerging D2C brands every 30 days, bringing freshness to underused spaces.

Next: Expect test zones, pop-up culture, influencer collaborations, and rotating themes to bring vibrancy back to quieter pockets.

VII. Move the Market: Shared Consumer Strategy

Malls and brands are no longer separate storytellers. Together, they must script narratives that connect emotionally and culturally.

Example: Quest Mall Kolkata curates regional food festivals, Bengali indie cinema screenings, and local art to build deep cultural resonance.

Trend: Brands creating mall-exclusive SKUs, storytelling-led visual merchandising, and mall-wide thematic events.

Next: Mall as cultural platform—one that inspires, not just sells.

VIII. The AI Advantage: Precision-Led Planning

AI is transforming how shopping centres are built, leased, and managed. From catchment analysis to predictive leasing and tenant rotation, data is now the key tenant.

Use Case: Inorbit Malls, in partnership with Waysahead Global, uses AI to predict catchment trends, plan tenant mix, and adjust lease durations.

Next: Expect AI-driven mall layouts, heatmaps for dwell zone optimisation, and even tenant scoring models.

1. Retail Architecture as Urban Catalyst

Malls are increasingly shaping not just consumption but the very fabric of cities. Architecture, urban design, and placemaking are becoming key mall strategies.

Case Study: Phoenix High Street Phoenix in Mumbai transformed a former textile mill compound into a mixed-use precinct, combining luxury retail, hospitality, residential towers, and cultural venues. It now anchors the city’s most dynamic commercial district.

Next: Future malls will co-develop infrastructure with city planners, offer transit integration, and invest in open, programmable public spaces.

Conclusion: From Next to Infinite

Shopping Centres Next is more than a theme—it’s a mandate. India’s malls are standing at the edge of reinvention, with infinite possibilities ahead.

As developers, retailers, REITs, architects, and tech platforms gather at SCN 2025, they’re not just discussing the future of malls. They are, in fact, building it.

The next era of shopping centres isn’t about more space. It’s about more meaning, more collaboration, and more imagination.

Because Shopping Centres Next… means Shopping Centres Better.

Agenda link: https://www.shoppingcentresnext.com/agenda-2025/

Speakers link: https://www.shoppingcentresnext.com/speakers-2025/