Infiniti mall's winning formula: Interview with Gaurav Balani, DGM - Marketing

As one of the key players in shaping the customer experience at Infiniti Mall, Gaurav Balani, DGM - Marketing, offers valuable insights into the evolving trends and developments within the retail and mall industry. From modest growth in India's retail sector to the emergence of innovative marketing tactics and technological advancements, Balani sheds light on how Infiniti Mall has navigated the challenges of 2024 and what lies ahead for 2025.

In this interview, Gaurav delves into the performance of the retail market, changes in consumer behavior, the impact of technology, and strategies that have propelled Infiniti Mall forward during the festive season.

How did the overall retail market perform this year compared to last year?

India's retail sector boasts an impressive market size, ranking fourth globally and contributing over 10% to the nation's GDP. The overall retail market in India grew by 2% in 2024 compared to the corresponding period in the previous year, according to the Retailers Association of India's 53rd Retail Business Survey. While this growth is modest, it indicates a steady performance despite challenges. Regionally, West India led the growth with a 3% increase, followed by South India at 2%, and North and East India at 1% each. Food and grocery sales saw the highest growth at 6%, followed by apparel and jewelry at 3%. Although the growth is slower than previous years, the festive season saw some increase in sales, and upcoming weddings and Christmas season in December are expected to provide a further boost.

What were the major trends in consumer behavior that impacted retail sales this year?

Millennial influence on retail is significant, driving the demand for fast fashion. This demographic expects immersive, digitally-enabled experiences. To cater to this expectation, malls focused on creating engaging and memorable experiences through experiential marketing. This included hosting live concerts, comedy shows, art and culture events, workshops, and activations that encouraged social sharing, fostered brand loyalty, and drove foot traffic to physical stores.

What innovations in technology have had the most significant impact on the retail industry this year?

Loyalty programs and omnichannel are transforming the retail industry by enabling personalized customer interactions and fostering loyalty. In addition, malls and retailers are adopting cutting-edge technologies to elevate customer experiences. Artificial Intelligence (AI) and Machine Learning (ML) are driving personalized marketing and customer support, while Internet of Things (IoT) sensors help track foot traffic and refine store layouts. Augmented Reality (AR) and Virtual Reality (VR) offer immersive brand experiences. Collectively, these innovations are reshaping the retail landscape, enhancing customer engagement, and fueling business growth.

How has the foot traffic changed in the Q3 as compared to previous quarters?

We've seen a 7-10% increase in foot traffic during the festive season in Q3, compared to the previous year. This growth is attributed to improved consumer sentiment, effective marketing strategies, and enhanced customer experiences.

What were the top-performing categories in retail for the last quarter?

Beauty and wellness, fashion and lifestyle, and home decor and furnishings emerged as key growth drivers during the festive season. The beauty and wellness segment witnessed significant growth, with some retailers expecting a substantial increase in sales. Fashion retailers also reported strong demand, with expectations of robust sales growth. Additionally, home decor and furnishing retailers saw increased demand, with some expecting a notable surge in sales. Overall, these categories benefited from consumers' desire to upgrade their homes, refresh their wardrobes, and indulge in self-care during the festive season.

What marketing tactics showed the most effectiveness in driving sales last quarter?

We organized various engaging events, including live concerts and kids' carnivals, which attracted large crowds and generated significant buzz around our brand. The mall was adorned with festive decorations, creating a vibrant and inviting ambiance that encouraged visitors to shop and explore.

To add to the festive excitement, we organized a Black Friday sale featuring attractive discounts and promotions from various brands. This strategy significantly boosted sales and foot traffic. All the events at Infiniti Mall were a resounding success, showcasing the effectiveness of our marketing strategies in creating a vibrant atmosphere that drove both engagement and revenue.

What festive events or activities are planned for families and children?

At Infiniti Mall, we've organised a diverse range of events, including a dog show, art festival, etc.. Music lovers enjoyed a mesmerizing musical concert by the talented Javed Ali. We've also hosted special art and cultural programs on Independence Day, which celebrated the spirit of patriotism and national pride. As Diwali approached, we hosted a range of activities, including decorations, workshops, and festivities that captured the essence of this joyous festival. Bookworms enjoyed our Book Fest, which brought together authors, publishers, and readers for a celebration of literature and learning. These events have been a huge success, and we're grateful to have been able to bring our community together to celebrate and have fun! Looking ahead, we're excited to plan special games and activities for Christmas and New Year's celebrations.

What trends and developments have shaped the retail and mall industry this year, and what strategic initiatives do you expect to drive growth in 2025?

This year, many D2C brands have focused on expanding their retail presence through brick-and-mortar stores, recognizing the importance of offering customers a tactile, in-person shopping experience. In addition, malls have embraced experiential marketing, hosting live shows, concerts, carnivals, and book fairs to enhance the shopping experience. Retail stores are also attracting more customers by incorporating innovative experiential and technological features.

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