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India Retail Figures H1 2022

September 1, 2022

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Global headwinds and inflationary pressures notwithstanding, the retail sector has recorded a sharp recovery – triple-digit Y-o-Y growth was witnessed in both leasing volumes and supply addition in H1 2022. Further, increased spending on non-essential purchases continued and retail sales surpassed the pre-pandemic levels across several retail categories.

Other key trends witnessed during H1 2022:

  • Retail demand stood at 1.54 million sq. ft., up by 166% Y-o-Y.
  • Delhi-NCR, Pune, Bangalore and Mumbai dominated leasing activity and together accounted for more than 70% of the total leasing volume.
  • Leasing was dominated by the fashion & apparel brands with a 32% share, followed by supermarket along with homeware and department store categories.
  • Owing to a low base, supply addition was up by 523% Y-o-Y and stood at 0.81 million sq. ft.
  • Overall leasing for 2022 is expected to reach around 6.0 - 6.5 million sq. ft., while close to 5.5 - 6.0 million sq. ft. of investment-grade mall supply is expected to come on stream.

For more insights on this comeback story and the city-level retail dynamics, please click ‘download’