Christmas footfall fails to spread cheer evenly
DLF Retail, said. “We have seen a growth of 9% to 12% (this December) over last year. Brands have declared early discounts as winter has been weak so far this year.
In fact, sales have picked up post-discounting. We expected a growth of over 15%," she said. Brands declared early end-of-season sales to boost demand for apparel.
“We have seen like-to-like sales stabilize, as end-of-season sales started owing to changes in weather. Footfall in malls is amazing, but conversion on apparels is low compared with previous years. Average spend per customer is better.
But overall season’s mark down (discount) is higher than previous years," said Akhil Jain, executive director, Jain Amar, which retails a women’s fashion brand Madame. Nexus Select Trust, which operates a portfolio of premium malls, however, said that demand for fashion and gadgets remained strong. “The festival season has been fantastic.
Beginning in October and continuing through November and December, we have recovered almost 130% of our revenues before the holidays, compared with 2019. We anticipate that fashion, jewellery, and gadgets will perform strongly this holiday season," said Jayen Naik, chief operating officer, Nexus Select Trust. The company operates a portfolio of 17 grade-A malls with a gross leasable area of 9.9 million sq.
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