In a recent survey of retailers present in shopping centers in the Czech Republic, 75 percent said they expect life to return to normal. The main subject of discussions between owners and retailers centered around potential rent reductions, which 35 percent of the companies asked for, either through implementing turnover rent or rent-free periods. A full 44 percent of the retailers were offered some sort of deal by their landlord, while 39 percent took advantage of the COVID-najemne program. The research was carried out by CBRE. “The result of the survey show the stability of the Czech retail network and the experience of its seasoned tenants,” said Tomas Micek, head of shopping center management at CBRE. “Nearly three-quarters of the companies expect no long-term changes in strategy in terms of market diversification or supply chains.” He said that of the companies planning changes, 19 percent are looking to cut costs at their stores, while 25 percent will be making their parameters for opening new stores more strict. However, 25 percent of the company have decided to implement changes said they have put a stop to their expansion programs.
