Hyderabad: Co-working to virtual shopping, malls find new ways to stay afloat

HYDERABAD: After a complete no-show for months, Hyderabad’s malls are gradually getting their footfall back, reaching 30% and 35% of pre-Covid figures. But with the crowd-pulling multiplexes still shut, owners say they are mulling new ways to keep their coffers ringing. If some are exploring the idea of introducing co-working spaces within their premises, others are curating innovative online shopping models to attract buyers.

“We are giving the co-working option a serious thought. The idea is still at the drawing board stage,” said G Yoganand, chairman and managing director of Manjeera Constructions. He admitted that the Manjeera Mall in Kukatpally has seen a sharp drop in revenue. “We haven’t been getting any rent from the theatres. They aren’t even paying common area maintenance (CAM) charges. Also, since 40% to 50% of the footfall is drawn by the multiplex, it’s affected us adversely,” he added.
While Inorbit Mall, Madhapur too is feeling the heat, officials say they are slowly recovering. “Currently, we see customers spending about one to one-and-half hours, whereas with the multiplex it usually is over two-and-half hours,” said Naviin Ibhrampurkar, head of marketing and corporate communications, Inorbit Malls. To beef up its popularity, the city branch will soon launch its own virtual mall experience for customers. “This will allow customers to view products at the mall and shop. We also have the virtual video calling service, curb side pickup option, home deliveries and contactless dining services as a part of our offering,” he said.
Another prominent mall is also toying with the idea of online sales to increase their earning. “If we decide to roll it out, we’ll tie up with delivery agents to ensure that stocks from our outlets are dropped off at the buyers’ homes the same day,” said a senior official, adding that post lockdown, the mall’s footfall has improved from 8,000 (June) to 38,000 (September). Prior to March, it touched 1.2 lakhs over weekends.