Ten Facts About PVR Bangalore That Will Blow Your Mind
Posted by gautamsingh8779 on January 6th, 2020
India has seen speedy growth in the organized retail sector over the last few years due to increased population, rise in income, and increased standard of living. This gave birth to the shopping mall culture in India. According to the Global Retail Development Index 2019, India ranks 2nd among the emerging economies of the world and it is poised to grow at the rate of 18% for the next five years.
Shopping malls provide a unique and entertaining shopping experience to consumers. Mall culture can be perceived as a change in the lifestyle of Indians, as shopping is not just buying things but also considered as a standard of life and a one-stop destination for all requirements. These are the most entertaining places for spending weekends to relax and shop. Cities like Delhi, Mumbai, Chennai, Bangalore, etc. have gained great economic impetus from malls and shopping centers.
The rise in the number of shopping Centers in Bangalore city is the outcome of the quality of life, increase in income and standard of living, transportation system, urbanization, etc. The shopping center in the city pulls visitors for entertainment, multi-brand clothes, food, safety, convenience, etc. From shopping to watching movies in PVR Bangalore, these shopping centers are the one-stop destination for Bangaloreans. VR Bengaluru is one of the popular and famous shopping destinations for people in the city.
Factors Behind the Rise of Shopping Centers in Bangalore
Bangalore city is famous for its diversity as it is home to different groups of people. The city attracts people both from the state and from across the country due to plenty of job opportunities available in IT industries and other sectors. Further, the presence of world-class institutes like IISc and IIM makes it a favorite destination for students as well.
The city is witnessing urbanization at a fast pace. People are moving towards the city in search of jobs and better career opportunities. Bangalore had an estimated population of 12.47 million in 2018, a significant increase from 2014. This rapid urbanization provides opportunities for retail industries to speed up their projects for making residential and commercial spaces in the city.
Young Urban Population
The young urban and working population is the backbone of Bangalore’s economy. They are hardworking, money-focused, and entrepreneurial. With their busy schedule and hectic lifestyle, their shopping habits are highly influenced by accessibility and convenience. And shopping centers provide them accessibility and convenience of shopping along with entertainment.
Bangalore’s economy is booming due to the thriving IT industry and other sectors. According to Oxford Economics’ annual Global Cities report, by the year 2035, the city of Bengaluru in Karnataka will have a year on year GDP growth of 8.5%. This makes it the city with the highest year on year GDP growth.
Increasing Middle Class Income
The income of the middle class in the city is on the rise hence, their liking for consuming things is changing. Their spending habits have changed which provides a viable market for shopping malls owners.
VR Bengaluru, one of the prominent names in Bangalore, is a famous destination for spending weekends for shopping and watching movies at IMAX Bangalore. The shopping center is home to various world-class brands and entertainment. This could be a perfect place for you to spend your weekends to shop and relax. The group has its hotels in Whitefield Bangalore that is equipped with world-class amenities and services.
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Joined: August 6th, 2019
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