India Retail Figures H2 2022
February 15, 2023
Backed by sustained discretionary spend and rebound in brick-and-mortar sales after the pandemic, retail consumption continued to strengthen during 2022, leading to expansionary space take-up by domestic and international retailers.
Given below are some of the key trends witnessed during H2 2022:
- Retail leasing grew by 21% Y-o-Y to touch 4.7 million sq. ft. during 2022; in H2 2022, it stood at 2.43 million sq. ft., up by 5% on a half-yearly basis.
- Bangalore and Delhi-NCR together accounted for more than 60% of the annual and half-yearly leasing activity.
- Close to 1.45 million sq. ft. of supply became operational during the year, down by 57% Y-o-Y. However, in H2 2022, supply addition improved by 129% on a half-yearly basis to almost 1.01 million sq. ft. Bangalore and Pune were the two main contributors to supply addition during the year.
- Fashion & apparel players led both the annual and half-yearly space take-up. Other prominent categories that dominated leasing were homeware and department stores, hypermarkets and F&B players.