Get every episode summarized
Each time In Focus by The Hindu publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
About this episode
India is seeing a sharp increase in the number of ghost shopping malls, according to a new report from real estate consultancy, Knight Frank India. The report, titled ‘Think India Think Retail 2024’, found that in 2023, there was 13.3 million square feet of ‘ghost shopping infrastructure’ across 29 cities, causing a loss of $798 million.
By definition, a ghost shopping mall is one where the vacancy rate of retail space is above 40%. If we counted only the eight Tier 1 cities, the pan-India vacancy rate across all categories of malls stood at 15.7%. Also, while Tier 1 cities had 271 shopping malls in 2022, the number came down to 263 (77% of total shopping centres) in 2023.
So, what is the reason behind this phenomenon of ghost shopping malls and high vacancy rates? Is it because offline shopping is giving way to online shopping? Is it due to weakening consumer demand? Or are there other industry-specific dynamics at play?
Learn more about your ad choices. Visit megaphone.fm/adchoices
Get every episode summarized
Each time In Focus by The Hindu publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from In Focus by The Hindu
US-Iran war: Why did the Islamabad peace talks fail?
In Focus by The Hindu
Apr 14, 202642:45failed
Why are Central banks not raising interest rates despite rising oil prices?
In Focus by The Hindu
Apr 13, 202626:14failed
Tamil Nadu Assembly Elections: Can DMK retain power amid BJP’s push, AIADMK’s ch...
In Focus by The Hindu
Apr 10, 202627:53failed
Can Cuba weather its worst crisis in decades?
In Focus by The Hindu
Apr 9, 202638:33failed