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Rise in online shopping leads to decline in shopping mall footfall: survey
In the wake of unprecedented surge in e-commerce, shopping malls already under huge pressure due to large vacant spaces are expected to see a sharp decline in the footfalls could be to the extent of 55.58 per cent during the ongoing festive season this year, reveals an ASSOCHAMrecent survey.
According to the just concluded survey, Delhi-NCR has recorded the highest decline in footfalls at city malls. As per the study, about 120-150 malls were launched in the past two years but close to 65-70% of the spaces in many of the malls still remain empty. Several malls, unable to attract the shops are even shutting down.
The major factors attributed to this situation are economic slowdown, online shopping, high interest rate and inflation of consumer good items, the steep drop in shoppers have hit the malls which are already suffering from large vacant spaces, said ASSOCHAM paper.
Delhi-NCR malls expect 55.58% decline in footfalls this Diwali: ASSOCHAM | Business Standard News
In the wake of unprecedented surge in e-commerce, shopping malls already under huge pressure due to large vacant spaces are expected to see a sharp decline in the footfalls could be to the extent of 55.58 per cent during the ongoing festive season this year, reveals an ASSOCHAMrecent survey.
According to the just concluded survey, Delhi-NCR has recorded the highest decline in footfalls at city malls. As per the study, about 120-150 malls were launched in the past two years but close to 65-70% of the spaces in many of the malls still remain empty. Several malls, unable to attract the shops are even shutting down.
The major factors attributed to this situation are economic slowdown, online shopping, high interest rate and inflation of consumer good items, the steep drop in shoppers have hit the malls which are already suffering from large vacant spaces, said ASSOCHAM paper.
Delhi-NCR malls expect 55.58% decline in footfalls this Diwali: ASSOCHAM | Business Standard News
