Increase in turnover in shopping centers in May
According to a report by the Polish Council of Shopping Centres (PRCH), tenant turnover increased in May this year in all categories of commercial facilities.
“The best results were recorded by the smallest centres (5-20 thousand sq m GLA), where turnover increased by 8.2%. In the largest galleries (over 60 thousand sq m GLA), the increase in tenant turnover was 6%. In medium-sized facilities (20-40 thousand sq m GLA), turnover increased by 4.9%. A similar result was recorded by large facilities (40-60 thousand sq m GLA), where turnover was higher by 4.2%,” the release read.
Analysis of the growth in turnover dynamics in shopping centers
Marcin Klammer, Managing Director of the Polish Council of Shopping Centres, indicated in a press release that in May 2024 the dynamics of turnover in shopping centres increased compared to April 2024. “The indices of the Polish Council of Shopping Centres, which are the largest cyclical survey of turnover and footfall in shopping centres in Poland, show that tenant turnover was 5.4% higher than in May 2023,” said Klammer, quoted in the press release.
Citing data from the Central Statistical Office, he added that retail sales for the entire trade had exactly the same dynamics in current prices in May.
The biggest increases in turnover by trade category
In May this year, the highest increases in turnover in selected categories of commercial facilities were recorded by health and beauty (14.6%), home furnishings (8.5%) and clothing and accessories (6.8%).
“The increases in shopping centre turnover reported by PRCH were twice as high as the inflation level in May. This is good news, which means that it was consumption, not price increases, that increased turnover in stores. At the same time, as can be seen from the comparison of the category containing textiles, fashion and footwear in the data of GUS and PRCH, branded clothing stores located in shopping centres are doing better with the sale of clothing and accessories than the entire market reported by GUS, which also includes fragmented and non-affiliated trade,” said Przemysław Dwojak from GfK, quoted in the press release.
Comparison of spending in shopping malls with other trade segments
“In May 2024, shopping centers saw an increase of almost 7% in this category compared to May 2023, while retail sales for all trade and online sales fell by almost 14% in this category,” he added.
The report highlights that the average customer expenditure per single visit to the mall was 6% higher in May 2024 than in the same period in 2023.
GfK is one of the largest research companies in the world, employing over 10,000 experts.
The Polish Council of Shopping Centres (PRCH) is a not-for-profit association with over 200 members operating in the retail and service sector. (PAP)
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