Published
Dec 15, 2021
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Mall operators confident for strong winter sales, growth in 2022

Published
Dec 15, 2021

Following the financial and logistical challenges of the Covid-19 pandemic, many mall operators have a positive outlook for winter sales and foresee recovery or growth in 2022.

Kolkata’s Quest Mall has seen sales recover over the festive season - Quest Mall, Kolkata- Facebook


The year 2020 saw mall operators suffer significant losses, especially as they remained closed for longer than high-streets under lockdown guidelines. The majority of malls have recovered over the course of 2021 and are expecting to end the calendar year with sales reaching the levels they saw in 2019 (before the pandemic) or better, ET Bureau reported.
 
“We are set to end the year with 10%- 15% revenue growth over 2019 despite the 45- day closure in May-June, 2019,” said South City Mall’s vice-president Manmohan Bagree, TNN reported.

“Sales during the festive season have been phenomenal. With most of the population in the city now vaccinated and indications that the Omicron variant- though more transmissible- is less severe than the Delta variant that caused havoc earlier this year, we are hoping there will be no disruptions in 2022.”
 
The rise of online shopping, especially in the fashion and beauty segments, during the first lockdown in 2020 also dented malls’ revenue. However, by the second lockdown, many malls had launched online shopping services to respond to the demand and shoppers also began to miss offline experiences like shopping malls. 
 
Quest Mall in Kolkata has already managed surpass its 2019 sales thanks to festive seasonal shopping.

“For the last few months, the percentage achievement is at 120% compared to the corresponding months in 2019,” said the mall’s vice president, Sanjeev Mehra, TNN reported.

 

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