India’s retail sector has witnessed unprecedented growth over the past decade, driven by rapid urbanization, rising disposable incomes and a shift towards organised retail. Notably, in cities like Gurugram, the retail sector has grown exponentially with the increasing presence of global brands and businesses. According to a report by the Boston Consulting Group (BCG) and the Retailers Association of India (RAI), India’s retail market, currently valued at Rs 82 lakh crore in 2024, is projected to more than double to over Rs 190 lakh crore by 2034.
Besides, the increasing demand for premium high-street retail and the rise of mixed-use developments have propelled Gurugram’s retail revolution. With world-class malls, high-end shopping avenues, and immersive brand experiences, Gurugram is cementing its status as the go-to destination for aspirational consumers and high-spending shoppers. Improved connectivity via metro and expressways has increased accessibility, driving greater footfall. Additionally, tech-driven retail innovations and omnichannel experiences are reshaping consumer engagement, making Gurugram a frontrunner in India’s evolving retail landscape.
From iconic high-street projects to exquisite malls, developers are curating premium retail spaces designed to attract top global brands and elite consumers. These projects emphasize unique architecture, high-end aesthetics, and prime locations across Gurugarm to ensure maximum visibility and footfall. With a focus on offering an exclusive shopping environment, developers are integrating luxury boutiques, fine dining, and entertainment hubs, transforming the city into a sought-after destination for experiential and high-end retail.
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Pankaj Jain, Chairman and CMD, SPJ Group, says, “Delhi-NCR’s retail indicated significant growth and evolution in consumer preferences that showcase an increase in demand for comprehensive retail destinations. Gurugram is displaying rising demand for premium experiential shopping, fine dining, and much more. It is important to meticulously plan retail on strategic locations and align as per the need gap of the targeted demographics. Some untapped high potential markets are like hidden gems and one of them is Sector 14 in old Gurugram.”
According to Kearney Research, India’s retail industry is set for significant expansion, growing at 9% annually from $779 billion in 2019 to $1.4 trillion by 2026 and likely to surpass $1.8 trillion by 2030. This growth reflects a transformative shift in consumer behavior, particularly in Tier-1 cities, where shoppers are increasingly drawn to immersive, experience-driven retail.
Arjun Gehlot, Director, Ambience Group, says, “India’s retail sector is growing at an incredible pace, and malls are at the heart of this transformation. Shopping today is no longer just about transactions, it is about experiences. Gurugram, especially, is witnessing an upsurge in retail growth, driven by rising consumer demand and strategic real estate developments. We believe the city’s purchasing power now rivals that of Delhi, further strengthened by a growing urban population, enhanced metro connectivity, and infrastructure projects like the Dwarka Expressway.”
Brands in malls and high street projects are responding by prioritizing engaging store environments, incorporating interactive displays, live demonstrations, and themed designs to enhance customer experiences. Advanced technologies like AI-driven recommendations, AR/VR try-ons, and smart displays are further bridging the gap between digital and physical retail, creating seamless, hyper-personalized shopping journeys.
Harinder Singh Hora, Founder Chairman, Reach Group, says “Gurgaon is evolving beyond a retail hub into an experiential lifestyle destination, driven by mixed-use developments that seamlessly integrate shopping, entertainment, workspaces, residences, and hospitality. These developments are redefining urban experiences by creating all-in-one destinations where people can live, work, and socialize within a single, well-connected environment.”
Ashwani Kumar of Pyramid Infratech says, “Gurugram’s retail landscape is transforming, driven by a growing preference for high-street retail. As aspirational consumers seek premium brands and upscale dining experiences, strategically-planned high-street developments are flourishing. Key corridors like Dwarka Expressway and SPR are emerging as prime retail destinations, offering strong accessibility and a diverse tenant mix.”
Gurugram’s evolving shopping landscape, fueled by high consumer spending and innovative retail formats, is set to attract even more global players. This transformation will not only redefine consumer experiences but also have a lasting impact on real estate, boosting property values and making retail investments highly lucrative. As demand for high-end, immersive retail spaces continues to rise, Gurgaon is set to lead the next phase of India’s retail revolution.