Why the physical mall still matters

As online shopping makes buying easier, physical retail faces a more interesting challenge: giving people a reason to show up. For Kamakshi Mantri, Chief Strategy Officer, Mantri Group, the answer lies in creating spaces built around experience, discovery and connection. She discusses how changing consumer habits are reshaping malls, hospitality and commercial real estate, and what will keep physical spaces relevant.

People can shop from almost anywhere today. What makes them still want to visit a mall, and what does that tell us about the new Indian consumer?

Today’s consumer has more choices than ever, but online convenience doesn’t replace the pull of a shared physical space — discovering new brands, trying things on, catching up with friends and family, eating out or watching a film. At Mantri Square, we’ve built the mall around exactly that: shopping, dining, entertainment and community experiences under one roof, so there are multiple reasons to visit, not just one.

Online platforms can offer convenience, but they can’t offer the chance to discover, connect and create shared experiences with the people around you. That’s the gap malls are best placed to fill.

You work across retail, hospitality, and commercial real estate. What are you seeing change most quickly in how people want to use physical spaces?

Across retail, hospitality and commercial real estate, the biggest shift is the same: people no longer show up because they have to, so when they do, the space has to earn the visit. In retail, that shows up as demand for experience alongside product — F&B, entertainment and events aren’t add-ons at Mantri Square anymore, they’re a growing part of why people come.

In hospitality, it’s the same behaviour — our F&B outlets like Tapeo and Asia Alive have to work as social destinations in their own right, not just service points. In commercial real estate, occupiers are asking for buildings that support how people actually want to work now: flexible layouts, on-site amenities, spaces that don’t feel purely transactional.

The common thread is that physical space has to compete for attention on its own merits now — being the only option isn’t enough anymore.

A good mall today seems to be selling more than products. How do you think about creating a place that people genuinely want to spend time in?

A mall today has to be more than a place to shop—it needs to be a place of participation and experience. People may walk in with a specific purchase in mind, but they choose to stay when there is an opportunity to discover, relax, dine, be entertained and spend meaningful time with others.

At Mantri Square, we look at this through the idea of creating a complete day-out experience. A family may come in for shopping, stay for a meal, catch a movie, explore gaming and entertainment options, or participate in a seasonal event. Our mix of retail, food and beverage, cinema, gaming and family-oriented experiences gives visitors the flexibility to shape their own experience. Programming also plays an important role. Initiatives such as summer camps, fashion activities, festive celebrations, cyclothons and Dandiya events give people reasons to visit even when shopping is not the primary purpose. These experiences help us stay connected with Bengaluru’s community and become part of people’s social calendars.

Ultimately, the goal isn’t to be the biggest mall—it’s to be the one people default to because there’s always something worth showing up for, whatever that means for them that week: fashion, food, a film, or just time with people.

Looking ahead five years, what do you think will separate malls that remain relevant from those that struggle to give consumers a reason to walk through their doors?

Over the next five years, malls will need to evolve from being collections of stores into living, evolving destinations. The competition is no longer limited to other malls; consumers have e-commerce, quick commerce, high streets, restaurants and entertainment venues competing for their time and attention.

The key will be giving people a reason to visit even when they don’t have a specific purchase in mind. This means bringing together a strong retail mix with food and beverage, entertainment, wellness, family experiences, events and community-led programming. It is less about having the most stores and more about creating a relevant and cohesive experience. Malls will also need to understand their local catchment better. In a city like Bengaluru, where consumers are digitally connected and experience-driven, convenience, discovery and meaningful experiences will play an important role.

Technology will help at the edges—parking, wayfinding, personalised offers—but it won’t be the differentiator. What will separate the malls that last is genuine community relevance: events, culture, fitness, food and family activities that make a mall part of people’s everyday lives, not just a place they pass through. Ultimately, the future of malls will be about competing for time, attention and connection—not just the consumer’s wallet.