Infiniti Mall, like other malls, are also competing with not just the mall or shops next door, but also with the fast-growing e-commerce space. Infiniti Mall understands the need for an omni-channel presence to boost growth. Keeping this in mind, the retailer is working on an omni-channel platform, revealed Mukesh Kumar, CEO of Infiniti Mall to Free Press Journal. Apart from omni-channel platform, Kumar also touched up on other topics that are of concerns for its growth.
How has the footfalls been in malls like Infiniti Mall this year, when you face growing competition from e-commerce?
Infiniti Mall business has grown by 12 per cent and footfall has increased by 20 per cent as compared to previous year.
How has Infiniti Mall used the advantage of e-commerce or digital or technology to attract shoppers and others?
We will be launching our more enhanced customer friendly loyalty programme where earning and burning of points will happen at the POS itself. We are still on test and run stage and will be able to share more details once it is completed. Having said that our current loyalty programme is a customer friendly platform that offers more than just shop and gain points.
It provides a complete map of our latest offers and promotions to our patrons that allows them to shop in much more convenient way. We have launched Infiniti Mall App this year. This will provide updates about ongoing offers, events and stores at our mall. Additionally, they can upload bills and earns point through our application.
We are also working on an omni-channel platform which is expected to be launched in the next few months. This will be first of its kind where the shoppers can log on to our website and block the product online and collect off-line.
How is the food and beverage segment doing in the mall? There is a growing number of people who visit the mall as it offers some good options in food and beverage category? How has that space grown?
Food courts in shopping malls are the gastronomic destination for shopaholics and foodies alike that are playing a pivotal role in increasing footfalls in shopping centres. Additionally, the mall needs to have a gathering place where people can relax and sit down along with a meeting place for their ‘we time’.
Consumers of 21st century visit malls not just to shop for designer items and accessories but also in search of exceptional experiences that surpass conventional way of shopping. When it comes to entertainment, one cannot rule out the significance of dining-out as an important form of entertainment, and hence the importance of food courts hold a very special place in the growing mall culture of the country.
How important is it to innovate in malls to attract more people to it?
It is the mall who provide better service, ambience, amenities, secured and comfortable environment to the guests, having said that personalisation and engagement need to be provided by the sales representative who is highlighting the benefit of the product. Considering the shift towards a digital world, we are trying to merge technology with the infrastructure retail through Omnichannel (Click and pick), POS-based loyalty programme, Brand promotions at customer’s fingertips.
At what rate is mall business growing? Has the increase in real estate prices have positive impact in your revenues?
g Mall has seen an average growth of 10-12 per cent in its business for the retailers from its inception whereas revenue of the mall has grown by approximately 6-8 per cent year on year.
What is the progress in your expansion plan? Would you be looking at investment for the same or you have enough capital to meet your expansion plans?
We are evaluating various options to grow our portfolio across major regions of the country. Additionally, we focused more and more on our marketing and customer service strategies so maximum events and promotions can give a push in terms of footfalls and sales. We continued our best practices and enhanced our services to try offering infinite experiences to our customers under one roof.
Do we see you diversify in other areas too or experiment in other models as well?
The model will be tweaked to suit the requirement of each market. The brand mix, are of the mall, space allocation of each category will change from market to market.