Overview

• By 2030, Tier-2 and Tier-3 cities are projected to account for 65% of India's total online shopping activity, up from their current dominance over Tier-1 cities.
• India's online shopper base has grown from 140 million in 2020 to 260 million in 2024 and is expected to reach 700 million by 2035.
• Over 16.6 million sq ft of Grade A retail space will be added in Tier-1 cities by 2026, with Delhi-NCR and Hyderabad contributing 65% of the new supply.
• Mall leasing continues to outpace new supply, with 12.6 million sq ft of retail space projected to be leased in the next two years across major urban centers.
• The entry of over 60 international retail brands in the past four years has driven demand for premium retail spaces in malls and high streets.