Summary:

A CBRE and Invest India survey highlights a shift in India’s retail sector, driven by a growing demand for experience-based entertainment. Over 70% of respondents prefer interactive activities such as bowling, amusement parks, and escape rooms over passive options. Gen Z favors high streets and independent experience centers over traditional malls. Nearly 90% are willing to spend up to Rs. 4,000 per month on entertainment, with 65% opting for food and beverage experiences.
The changing entertainment industry is transforming retail real estate in India. According to CBRE's Anshuman Magazine, experiential formats, such asfamily and children's entertainment centers, are crucial to mall strategies, ensuring future-proof assets with a creative tenant mix. Ram Chandnani emphasized the success of high-quality entertainment venues in metros and Tier-II cities. Developers are focusing on placemaking with experiential dining, green zones, and community activities to increase foot traffic, necessitating a shift to experience-driven retail models to meet demand.

Source: IBEF

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