Shopping centre tenant turnover in 2023 was 9.2% higher y/y, the Polish Council of Shopping Centres (PRCH) reported. Shopping centre footfall, measured by the number of customers per square metre of leasable area, was 4.6% higher last year than the year before.
“The indices of the Polish Council of Shopping Centres, Poland’s largest cyclical survey of shopping centre turnover and footfall, show that in 2023, despite the economic slowdown, tenant turnover was 9.2% higher than in 2022. For trade as a whole, according to the CSO, retail sales growth in current prices was 5%. Shopping mall footfall also increased by 4.6% in the past year. The data from the PRCH indices are representative of the market and have been continuously collected, verified and analysed for 16 years by international auditor PwC. The indices include information from facilities with a total floor area of more than 4.5 million m2, which represents more than 33% of the shopping centre market in Poland,” said PRCH managing director Krzysztof Poznański.
In the last two months of 2023 (November and December), turnover grew by 5.4% and 5.2%, respectively, compared to the corresponding months in 2022, it was reported.
Average annual turnover increased in all categories of retail facilities. The smallest centres (5,000-20,000 sqm GLA) recorded the best results in 2023, showing turnover growth of 12.2% year-on-year. In large facilities (40-60 thousand m2 GLA), tenant turnover increased by 10.8%, and an average increase of 9.1% was recorded by the largest galleries (above 60 thousand m2 GLA). In medium-sized facilities (20-40 thousand m2 GLA), turnover in 2023 increased by 6.5% y-o-y, lists PRCH.
In selected categories, the highest turnover increases for the whole of 2023 (y/y) were recorded by entertainment 30.3%, services 24.8% and catering 17.4%, it further reported.
The conversion rate for all shopping centre tenant categories, i.e. the average customer spend per single mall visit, was 4% higher in 2023 than in 2022, the organisation’s data shows.
Shopping centre footfall (PRCH Footfall Density Index), measured by the number of customers per square metre of floor space, was 4.6% higher in 2023 than the year before. The best footfall performance was recorded by malls above 60,000 sqm GLA, where the increase was 6.1%. Facilities between 40,000 and 60,000 sqm GLA attracted 5.9% more customers than in 2022. For centres between 20,000 and 40,000 sqm GLA, the increase in footfall was 2.7%, and the smallest facilities, 5,000-20,000 sqm GLA, were visited by 2.4% more customers than a year earlier.
Source: PRCH and ISBnews
