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Retail high on the high streets

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  • The retail diversity on leading high streets of India is now a crowd puller. Serious buyers now visit these markets for quality shopping experience. The leading high streets of India like Connaught Place or Khan Market in Delhi and Linking Road, Colaba or Bench Candy of Mumbai now have both domestic and international brands. According to a study more than 50 per cent of the top 30 brands having high rate of penetration are of international brands while rest are domestic ones. The rentals as well as the capital values of the shops on high streets across markets of Delhi and Mumbai are now touching international levels.

    According to a recent survey done by Jones Lange La Salle-Meghraj, Leading High Streets of India - Embracing Change, top rung India's shopping streets are steadily making it to the most expensive high streets of the world. Shubhranshu Pani, managing director, Retail- Jones Lange La Salle-Meghraj says, "High streets in particular enhance the retail appeal and attractiveness of a brand. Malls on the other hand, enhance the overall shopping experience for any brand. But the ability and willingness of the buyers to spend and the catchment area are some of the key factors for the growth of these high streets."

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    On the question of why high streets in India are now showing up on the world map, Pani says, "Malls in India are taking time to establish themselves as a one-stop destination. Also, the construction of a mall takes time. Moreover, usually high-end malls come up in some distant suburb or off-prime locations. But high streets do not have that kind of customized environments. Developments are in the pipeline. Major developers are still in the process of construction.

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