This resurgence comes even as shopping mall construction continues. The report suggests a shift in consumer preferences, with high streets emerging as strong competitors to malls.

Why Shoppers are Choosing High Streets:

Several factors are driving the revival of high street retail:

• Experience is King: Today's shoppers crave an enjoyable shopping trip. High streets offer a vibrant atmosphere, a sense of community, and the convenience of browsing closely located stores.
• Cost Advantage: Renting space on a high street is generally cheaper than renting in a mall. This attracts established brands and new businesses, creating a more diverse shopping experience.
• Prime Locations: High streets are often situated in well-connected areas with high foot traffic. This gives stores greater visibility and makes them easier to find.
• Community Focus: High streets often have a strong local character, attracting residents who enjoy a familiar shopping environment and a sense of community.

City-by-City Growth: High Streets Rise as Malls Face New Challenge

The report reveals a city-wise variation in how high streets are embraced. Bengaluru leads the pack, with four of its high streets (MG Road, Commercial Street, Brigade Road, and Church Street) ranking among the top 10 nationally. Other thriving high streets include Hyderabad (Somajiguda), Mumbai (Linking Road), and Delhi (Khan Market). While the report doesn't explicitly mention saturated cities, it suggests established high streets may not see rent increases as high as those in developing areas. This indicates a shift in investor focus towards high-growth potential areas.

Changing Retail Landscape:

The report highlights a shift in the types of stores found on high streets. While traditional stores remain, there's a clear rise in non-traditional (organized/modern) retail formats:

• Organized Retail on the Rise: The expansion of organized retail chains on high streets is driven by factors like standardized products, efficient operations, and strong brand recognition. Investments in infrastructure like improved pedestrian walkways and parking further enhance the appeal of high streets for these retailers. Their arrival brings a wider variety of products and a more standardized shopping experience, providing a compelling alternative for brand-conscious consumers.
• Fashion Takes Center Stage: Fashion/apparel dominates high street retail, catering to a large segment of consumer demand. This dominance can be attributed to several factors:
• Excellent visibility allows fashion brands to attract customers with storefront displays and window shopping opportunities.
• The open and walkable nature of high streets encourages impulse purchases, benefiting fashion retailers with trendy items.
• High streets offer a mix of established brands, local boutiques, and budget-friendly options, appealing to a wider customer base.

A Bright Future for High Streets:

The Knight Frank India report highlights a significant shift in the Indian retail landscape. With their focus on experience, affordability, and accessibility, high streets are poised for continued growth, offering a dynamic and evolving platform for both retailers and consumers.