New Delhi, March 11 -- Consumers are expected to shift spending from categories such as apparel and footwear to beauty and eating out over the next four to five years, prompting retailers and mall developers to re-examine their portfolios of offerings.

Dalip Sehgal, CEO, Nexus Select Trust, which operates a portfolio of over 18 premium malls in India, said consumers are increasingly diversifying their expenditure with more focus on experiences and grooming. "Beauty will become even bigger. So, let's say fashion today is 45-50% of the business. My sense is that between 5-7% of that will migrate to beauty because that's under-penetrated as a category," Sehgal said in an interview withMint.

Brands such as Nars (cosmetics), Gucci Beauty, Pr...