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Real estate players deploy AI, plug into AR and VR tech to boost sales

Buying one s dream home requires planning, funds, and these days, putting on an AI-enabled virtual reality (VR) headset. Realtors are increasingly providing customers an immersive experience, courtesy generative artificial intelligence (GenAI), mixed reality, and metaverse. For realty consultancy Anarock group, AI and machine learning (ML) are enabling predictive market analysis, facilitating virtual property tours, and improving property management through predictive maintenance.

Short Call | Realty on outreach overdrive; Castrol on smooth climb, Nerolac in green, UP powers BEL, Adani Wilmar in focus

Developers now focus on new growth menu: Food-only malls

Food and beverage outlets covered about 10% of the retail space in malls until about three years ago, which has now risen to 20%. Mall operators say they are ready to give more space to eateries. "Food is big business, and it becomes unbeatable when paired with the right ambience. That s precisely what we have done at Dawatpur, the Omaxe Chowk food court," said Mohit Goel, managing director, Omaxe Group.

No end to retailers travails even with end of season sales

Retailers are offering discounts of up to 75% in an attempt to boost sales during end of season sales (EOSS). However, concerns are rising as business levels are still lower than last year. Brands such as Shoppers Stop, Reliance Trends, Lifestyle, Pantaloons, VMART, Max, and Westside have started their sales earlier this year, with a decline in revenue of 5-15% YoY.

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