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Purpose Energy-efficient retrofitting of existing buildings is an inexpensive way of reducing energy consumption and mitigating climate change impacts. The purpose of this study is to examine electricity savings and carbon dioxide (CO2) emission reduction potentials of energy-efficient retrofit measures for surveyed two large shopping malls in India. Design/methodology/approach A techno-economic model was developed to estimate the electricity savings achieved due to energy-efficient retrofit measures in shopping malls that were surveyed in 2017. Alternative scenarios were constructed based on capital cost and cost of conserved energy (CCE) value for retrofit measures: cheapest replacement, best available technology and best value for money. The life-cycle electricity and CO2 emission savings and payback period for end-use retrofit measures were evaluated. Findings The estimated average electricity savings were around 39–56% for various retrofit measures across all three scenarios while the average CO2 emission reductions were around 50–125 kt-CO2. Retrofits to light-emitting diode lights and air conditioners with inverter technology offered more life-cycle electricity savings. Paybacks for most lighting end-use measures were estimated to be within 1.5 years while for most space conditioning end-use measures were between 1 and 4 years. Originality/value The primary survey-based comprehensive research makes an exclusive contribution by estimating life-cycle electricity savings and CO2 emission reductions for energy-efficient retrofit measures of lighting and space cooling end-use appliances for existing shopping malls. The present research methodology can also be deployed in other types of commercial buildings and in residential buildings to estimate electricity savings from energy-efficient retrofit measures.