It almost seemed like a giant vacuum cleaner had gobbled its way through Phoenix Mills in central Mumbai. Overnight, all the scaffolding, corrugated tin sheets and swathes of cement-caked jute had vanished to reveal the facade of new luxury mall Palladium. All in good time for the festive season in October.
Pre-festive launch: The Palladium–High Street Phoenix mall in Mumbai is set to open on 26 September, at least a month earlier than expected. Abhijit Bhatlekar / Mint
“We’ve literally white-washed the place for Diwali,” says Gayatri Ruia, development director for Palladium–High Street Phoenix, which will open to the public on 26 September, at least a month earlier than expected.
While only 20 of the 60 brands to be housed there will actually be ready for business, the management is keen to launch early. “The idea is to improve their experience here, get people to walk through the mall and drum up some excitement closer to Diwali,” Ruia says.
Several recent indicators suggest that the worst is behind us, but mall developers and retailers aren’t taking any chances this festive season.
While some such as writing instrument brand Montblanc are looking to expand their reach with their first ad campaign in 10 years featuring actors Anil and Sonam Kapoor, others such as Cadbury India Ltd, India Yamaha Motor Pvt. Ltd and Kansai Nerolac Paints Ltd are launching their festive campaigns far earlier and for longer durations than usual. Consumer durables, auto, jewellery and apparel companies, which typically rely on the festive season for a sizeable chunk of their sales, are also looking to reach consumers where it really matters—at the point of sale, fighting fit and ready to compete for their share of the consumer’s wallet.
“Basically, we have to set the mood right,” says Anuj Jain, vice-president (sales and marketing) at Kansai Nerolac Paints, which has launched five different television commercials for the festive season, against the usual two.
Headstart: While only 20 of the 60 brands to be housed at Palladium will be available when it opens, the management is keen to launch early. Abhijit Bhatlekar / Mint
“It’s not like people don’t have the money, so the idea is to focus on activities that will trigger spending,” he says, adding that the company was spending an equal amount on promotions and activities to drive sales at the store level this year, against the usual 70:30 ratio in favour of traditional media such as television.
The aggressive battle plans for the festive season are not so surprising. According to Boston Analytics Pvt. Ltd, a Mumbai-based research and analytics firm, consumer sentiment and spending continued to take a hit for the sixth month in a row in August on the back of fears about an uncertain future, delayed and weak monsoon and a sluggish job market.