Investigating the Relationship between Retail Property Market Performance and Consumer Movement Patterns in Delhi

Abstract

This research investigates the correlation between spatial accessibility and the performance of Delhi's retail property market. By analyzing human movement patterns, the study uses spatial configuration analysis to explore how the retail sector is influenced. To measure retail property market performance, changes in retail rental value and land value are examined, as well as the spatial accessibility index of integration metrics and footfall to analyze consumer movement across 5 different locations within the city. Our primary objective is to develop effective strategies that can support the growth of Delhi's retail sector and potentially other cities facing similar challenges. This research is motivated by current difficulties in the retail property market, such as store closures, declining high streets, online shopping versus physical stores, and low absorption rates of retail space. Our study aims to fill knowledge and application gaps in analyzing relationships between spatial configuration parameters and urban economic variables, particularly in the context of retailing. To achieve this, the research adopts the spatial configuration method of space syntax to compute the accessibility of street networks in Delhi. We use secondary data sources from public and private organizations to gather information on retail property market variables. To process, analyze, and visualize the data, we employ various tools such as QGIS, ArcGIS, DepthMapX, MS Excel, and SPSS. The findings of this study will benefit stakeholders in the retail sector, policymakers, and urban planners by providing valuable insights into the impact of consumer movement patterns on the retail property market and how to develop effective strategies to support its growth.