Tenant turnover in shopping centers in October 2023 was 5% higher y/y, the Polish Council of Shopping Centres (PRCH) said. Visitability of shopping centers, measured by the number of customers per 1 m2 of leasable area, was 2% higher in October than a year earlier.
“In October 2023, the turnover of tenants in shopping centres increased by 5% compared to the same month of 2022. They are in line with the results of retail sales given by the Central Statistical Office at current prices for the whole trade – here the increase was 4.8%. The results in the fashion category are distinguished, where the increase in turnover in shopping centers amounted to nearly 9% (GUS data in this category for all trade shows an increase in retail sales by 2.6%). After the September slowdown in turnover in this category, which was the result of record warm weather, previously not recorded in the history of temperature measurements in Poland, October brought a rebound. In turn, the visitability of shopping malls, measured by the number of customers per 1 m2 of leasable space, was 2% higher than in October 2022,” said the managing director of PRCH Krzysztof Poznańsk..
By category, the best results in October were noted: entertainment 31.6%, gastronomy 10.2% and fashion 8.8%. In the case of the first two categories, the results since the beginning of 2023 have a very high dynamic growth of turnover. In turn, in the case of the fashion category, good results of October reverse the September drop in turnover, which caused the warmest temperature of September in the history of IMGW measurements, i.e. since 1951. Thus, the results of the clothing industry returned to the upward trend in 2023.
The conversion rate for all categories of tenants in shopping malls, i.e. the average customer’s expenses per single visit to the gallery, was 2.9% higher in October 2023 than in October 2022.
The best results in October recorded the smallest GLA centres (GLA) by the best results in October, where the increase in turnover amounted to 10% compared to October 2022. In large facilities (40-600,000 m2 of GLA), tenant turnover increased by 7.5%, and 4.2% of the growth was recorded by the largest galleries (aer 60,000 m2 of GLA). In medium-sized objects (20-40 thousand m2 GLA), turnover increased by 2.1%, and was also reported.
Source: PRCH and ISBnews
