Transformative Trends in Consumer Preferences

MUMBAI, SEPTEMBER 18, 2024: The retail landscape in India is undergoing a significant transformation as Indoor Amusement Centers (IACs) emerge as pivotal attractions, driving foot traffic and reshaping consumer experiences. A recent report by JLL India, titled “Game on! Entertainment as the new frontier in Indian retail,” highlights this shift, emphasizing the growing demand for immersive experiences that go beyond traditional shopping.

IACs: The New Cornerstone of Retail

Indoor Amusement Centers are redefining how consumers interact with retail spaces. These centers provide a wide range of entertainment options, combining games, attractions, and food and beverage offerings. Currently, India hosts approximately 6.6 million square feet of operational IAC space across more than 500 locations. This number is projected to rise to around 11 million square feet by 2028, underscoring the increasing significance of these entertainment hubs in retail developments.

The Rise of Premium Formats

The report reveals a notable trend toward premiumization within IACs. As per experts, one-fifth of these centers now occupy spaces larger than 50,000 square feet, catering to a growing demand for upscale entertainment experiences. These premium venues focus on quality, featuring high-end gaming options, upscale dining, and a curated atmosphere designed for an elevated visitor experience.

Innovative Concepts Capturing Attention

Emerging concepts such as “Eatertainment” are gaining traction, offering integrated dining and entertainment experiences that appeal to diverse demographics, particularly teens and young professionals. Currently, over 50 centers in India are embracing this format, combining multiple games and attractions in a single location. Similarly, the trend of competitive socializing is on the rise, where venues focus on specific games paired with enhanced dining options and vibrant atmospheres.

The Future of Retail and Entertainment

As the boundaries between retail, entertainment, and dining continue to blur, larger retail spaces are expected to allocate more resources to IACs. This evolution will likely transform shopping centers into holistic lifestyle destinations that offer a rich array of experiences beyond mere retail transactions.

In conclusion, Indoor Amusement Centers are not just reshaping the entertainment landscape; they are also poised to redefine the future of retail in India. This trend presents exciting opportunities for both consumers seeking diverse experiences and investors looking to tap into the expanding experience economy.