Bihar’s biggest and swankiest mall, sprawled over 3.5 lakh square feet, has Patna’ites in thrall. With more than 80 brands across categories, City Centre is set to change the way people shop here. EastIndiaRetail reports.
By Staff Reporter | October 11, 2022 | 14:00 Hours
Bihar’s biggest and swankiest mall, sprawled over 3.5 lakh square feet, has Patna’ites in thrall. With more than 80 brands across categories, City Centre is set to change the way people shop here.
What is also new for the city is the debut of anchor stores like Shoppers Stop and Lifestyle. The other players to have opened shop in the state include: Homecentre, Timezone, Decathlon, Crossword, Nykaa, Forest Essentials, Rare Rabbit, Wow Momo, GKB Optical, Miniklub, Miniso, Health & Glow, De Beers, Inc.5, Kazo, Loafers Café, Tea Junction.
#Catchment profile: Boring Road-Bailey Road; Fraser Road-Exhibition Road; Gandhi Maidan-Kankarbagh; Budh Colony-Ashok Rajpath; Patliputra Industrial Area.
#Emerging market (crosshead in a news feature story)
What makes Patna a promising retail port of call is the fact that it records the highest urban population (14%) in the state, followed by Gaya at a mere 4%, and more importantly, its population is set to grow to 4.4 lakh by 2030.
Not only is Patna the most populous district in the state, it also happens to be the 15th most populous district in India. And the focus increasingly is on education and tourism.
The #demographic pattern with increasing population is set to create #retail demand, along with trends like rising income levels and so increased disposable incomes leading to changes in consumption patterns, and therefore indicative of growth of organised retail.
The pull factors:
· High economic growth with flourishing economy
· Rich labour pool
· Ease of doing business
· Geographically well connected
· Locational advantage for trade
· Proposed integrated infrastructure network
Existing players: Apart from the just opened City Centre by the Kolkata-based Ambuja Neotia group, the only other mall is P&M which has been around since 2011. Other small shopping centres include Patna One Mall, Vasundhara Mega Mall — all with few occupants.
