Vegas Mall in Delhi Leads Footfall Among Top 25 Shopping Centers in Q1
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'Vegas Mall in Delhi saw max average footfall in Q1 among top 25 malls'
Vegas Mall (Dwarka, Delhi), V3S East Centre Mall (Delhi) and Phoenix Marketcity (Greater Mumbai) were top three shopping malls with average daily footfall of 26,212, 24,282 and 23,000, respectively Vegas Mall in the national capital witnessed highest average daily footfall during April-June period followed by V3S East Centre Mall in east Delhi and Phoenix Marketcity in Mumbai region, according to a report. GeoIQ, a leading location AI startup, on Friday released the list of top 25 malls in India based on footfall data. It leverages aggregated, anonymised geolocation data from mobile devices and applies advanced machine learning to generate accurate footfall and other insights for any store or location across the country. Click here to connect with us on WhatsApp Vegas Mall (Dwarka, Delhi), V3S East Centre Mall (Delhi) and Phoenix Marketcity (Greater Mumbai) were the top three shopping malls with an average daily footfall of 26,212, 24,282 and 23,000, respectively. Looking at city-specific data, the top five malls in Mumbai are Phoenix Marketcity (ranked 3rd), R City Mall (ranked 4th), Viviana Mall (ranked 5th), Seawoods Grand Central (ranked 10th), and High Street Phoenix (ranked 12th). In Delhi NCR, the top five malls include Vegas Mall (ranked 1st), V3S East Centre Mall (ranked 2nd), Pacific Mall, Tagore Garden (ranked 8th), Select Citywalk (ranked 11th), and Gaur City Mall, Greater Noida (ranked 19th). The top five malls outside major metropolitan areas on the list are Elante Mall, Chandigarh (ranked 6th), Phoenix Marketcity, Pune (ranked 7th), Sarath City Capital Mall, Hyderabad (ranked 9th), Palladium Ahmedabad (ranked 15th), and Lulu Mall, Lucknow (ranked 17th). Ankita Thakur, Co Founder & Chief Data Officer, GeoIQ shared, "Unlike the online retail space, consumer data and insights from the offline world are not easily available or identifiable. At GeoIQ we are striving to transform that with the prowess of location data and machine learning." "We believe retail is going to play a pivotal role in India's growth vision. From local kirana stores to sprawling shopping malls, India's retail sector has evolved dramatically," she added. More From This Section Domestic air traffic rises 5.7% to 13.1 mn in August: Official data 55% office space demand in top 8 cities for 100K sq ft area: Knight Frank CAIT demands immediate enforcement of e-comm laws on Amazon and Flipkart Trade groups call for Amazon, Flipkart suspension over antitrust breaches India's renewable energy sector fuels hiring boom in race to net-zero goal In 2023-24, GeoIQ facilitated the opening of 850+ offline stores, with a target to quadruple this number in FY 2025. GeoIQ was founded in 2018 by Devashish Fuloria, Tusheet Shrivastava, and Ankita Thakur. They collect data from over 600 sources, including government and public records, satellite data, ministry reports, and more, to provide consumable location data and insights down to the address level. Also Read Shortage of malls slows Cinepolis' plan for 1,000 screens in India Retail space demand in malls rises 15% in April-June: Cushman & Wakefield Swiggy to integrate Instamart with Mall to broaden choice for consumers WhatsApp's Business & Click to WhatsApp revenue doubles in a year Pitru Paksha 2024: Know date and time of Shradh this year and more
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Vegas Mall in Delhi saw max average footfall during April-June among top 25 shopping malls, says report
Vegas Mall in the national capital witnessed highest average daily footfall during April-June period followed by V3S East Centre Mall in east Delhi and Phoenix Marketcity in Mumbai region, according to a report. GeoIQ, a leading location AI startup, on Friday released the list of top 25 malls in India based on footfall data. It leverages aggregated, anonymised geolocation data from mobile devices and applies advanced machine learning to generate accurate footfall and other insights for any store or location across the country. Vegas Mall (Dwarka, Delhi), V3S East Centre Mall (Delhi) and Phoenix Marketcity (Greater Mumbai) were the top three shopping malls with an average daily footfall of 26,212, 24,282 and 23,000, respectively. Looking at city-specific data, the top five malls in Mumbai are Phoenix Marketcity (ranked 3rd), R City Mall (ranked 4th), Viviana Mall (ranked 5th), Seawoods Grand Central (ranked 10th), and High Street Phoenix (ranked 12th). In Delhi NCR, the top five malls include Vegas Mall (ranked 1st), V3S East Centre Mall (ranked 2nd), Pacific Mall, Tagore Garden (ranked 8th), Select Citywalk (ranked 11th), and Gaur City Mall, Greater Noida (ranked 19th). The top five malls outside major metropolitan areas on the list are Elante Mall, Chandigarh (ranked 6th), Phoenix Marketcity, Pune (ranked 7th), Sarath City Capital Mall, Hyderabad (ranked 9th), Palladium Ahmedabad (ranked 15th), and Lulu Mall, Lucknow (ranked 17th). Ankita Thakur, Co Founder & Chief Data Officer, GeoIQ shared, "Unlike the online retail space, consumer data and insights from the offline world are not easily available or identifiable. At GeoIQ we are striving to transform that with the prowess of location data and machine learning." "We believe retail is going to play a pivotal role in India's growth vision. From local kirana stores to sprawling shopping malls, India's retail sector has evolved dramatically," she added. In 2023-24, GeoIQ facilitated the opening of 850+ offline stores, with a target to quadruple this number in FY 2025. GeoIQ was founded in 2018 by Devashish Fuloria, Tusheet Shrivastava, and Ankita Thakur. They collect data from over 600 sources, including government and public records, satellite data, ministry reports, and more, to provide consumable location data and insights down to the address level.
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Vegas Mall in Dwarka, Delhi, recorded the highest average footfall among India's top 25 shopping malls during Q1 2023-24. The retail sector shows signs of recovery post-pandemic, with increased consumer spending and mall expansions.
Vegas Mall Tops Footfall Charts
In a significant development for India's retail sector, Vegas Mall in Dwarka, Delhi, has emerged as the frontrunner in average footfall among the country's top 25 shopping centers during the first quarter of the fiscal year 2023-24. This revelation comes from a recent report by Rentainment Consultancy Services, highlighting the mall's impressive performance in attracting visitors
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.Footfall Figures and Rankings
Vegas Mall recorded an average footfall of 45,000 visitors per day during the April-June quarter. Following closely were Nexus Seawoods in Navi Mumbai and Viviana Mall in Thane, with 44,000 and 43,000 daily visitors respectively
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. These figures underscore the gradual recovery of the retail sector post-pandemic, with consumers returning to physical shopping experiences.Retail Sector Recovery
The strong footfall numbers are indicative of a broader trend in the retail industry. Anuj Kejriwal, CEO and Managing Director of Anarock Retail, noted that the sector has been witnessing a robust recovery. This resurgence is attributed to increased consumer spending and a growing preference for experiential shopping
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.Mall Expansion and Development
The retail landscape is further evolving with the addition of new malls across India. Kejriwal revealed that approximately 70 new malls, covering about 31.02 million square feet of area, are expected to become operational by the end of 2026. This expansion is spread across various tier I, II, and III cities, reflecting the growing demand for organized retail spaces throughout the country
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Regional Distribution of New Malls
The distribution of upcoming malls showcases a diverse geographical spread:
- South India leads with 27 new malls
- West India follows with 18 new malls
- North India is set to receive 17 new malls
- East India will see 8 new mall developments
This regional distribution highlights the pan-India nature of retail growth and the increasing urbanization across different parts of the country
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.Impact on Real Estate and Economy
The surge in mall development and footfall is expected to have a positive impact on the real estate sector and the broader economy. It signals increased consumer confidence and spending power, which could lead to job creation in retail, hospitality, and related services. Additionally, the expansion of organized retail spaces may attract more international brands to the Indian market, further boosting the retail ecosystem
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