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What’s behind India’s ‘ghost mall’ phenomenon?
Manage episode 418214869 series 2606066
Content provided by The Hindu. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Hindu or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
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?
849 episodes
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Manage episode 418214869 series 2606066
Content provided by The Hindu. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Hindu or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
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?
849 episodes
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Similar to In Focus by The Hindu
Daily news updates from across the Slate Podcast network.
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continue reading
A show about the law and the nine Supreme Court justices who interpret it for the rest of America. Want more Amicus? Join Slate Plus to unlock weekly member-exclusive episodes from Dahlia. Plus, you’ll access ad-free listening across all your favorite Slate podcasts. Subscribe now on Apple Podcasts by clicking “Try Free” at the top of our show page. Or, visit slate.com/amicusplus to get access wherever you listen.
…
continue reading
Host Marco Werman and his team of producers bring you the world's most interesting stories that remind us just how small our planet really is.
…
continue reading
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…
continue reading
Tempers fly as the newsmakers of the week face-off in this award-winning show. Anchored by Sanket Upadhyay, this weekly program has politicians battlling wits with a live audience.
…
continue reading
Anderson Cooper brings you highlights from CNN's premier nightly news program AC360.
…
continue reading
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…
continue reading
Three astrologers, Heather Roan Robbins, Mark Wolz and Anne Ortelee combine their talents to make real astrology accessible through information-packed, entertaining and interactive weekly talks which are meaningful, useful and fun. We know astrology is a great tool to make the most out of life, love, and this moment in time, and want to share it with you. For more detail, please see our bios and individual websites: www.dharmarising.com for Mark Wolz, www.astroanne.com for Anne Ortelee and w ...
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Storytelling, insight and compelling perspective on American culture and politics. Glenn Beck's quick wit, candid opinions and engaging personality have made this one of the most popular radio programs in America. Watch The Glenn Beck Radio Program, Monday through Friday, 9am - 12pm ET on BlazeTV. www.BlazeTV.com/Glenn
…
continue reading
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…
continue reading
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