- In the first quarter of 2024, tenant turnover in shopping centers was 6% higher than in the same period of 2023. Compared to the corresponding months of 2023, after a minimal decrease in turnover in January – by 0.7%, there was a significant increase in February (by 8.2%) and in March (by 10.4%).
- Turnover for the first quarter of 2024 increased across all categories of shopping centers. The best results were recorded by large centers (40-60 thousand sqm GLA), where tenant turnover was 8.5% higher than in the first quarter of 2023. During the first three months of 2024, the smallest centers (5-20 thousand sqm GLA) had 8.2% higher turnover, medium-sized centers (20-40 thousand sqm GLA) saw a 6% increase, and the largest galleries (over 60 thousand sqm GLA) recorded a turnover increase of 3.9% compared to the same period in 2023.
- In selected categories, the highest turnover increases in the first quarter of 2024 were recorded in: entertainment (18.3%), health and beauty (14.2%), and gastronomy (9.3%).
- Shopping center footfall, measured by the number of customers per sqm of rental area, was 3.1% higher in the first quarter of 2024 than a year earlier.
–The indices of the Polish Council of Shopping Centers, the largest cyclical study of turnover and footfall in shopping centers in Poland, show a higher than inflation rate increase in tenant turnover in the first quarter of 2024. Compared to the same period in 2023, tenant turnover increased by 6%. Similar data was announced by the Central Statistical Office for retail sales at current prices for the entire trade sector, where the growth in the first quarter was 5.6%. In the first quarter of 2024, shopping center footfall also increased by 3.1%. The PRCH indices are representative of the shopping center market. They aggregate actual data on footfall and turnover from facilities with a total area of over 4.5 million sqm, which constitutes more than 33% of the shopping center market in Poland. PwC, an international auditor, has been overseeing their collection, verification, and analysis continuously for 17 years, informs Marcin Klammer, Managing Director of the Polish Council of Shopping Centers.
The conversion rate for all categories of tenants in shopping centers, meaning the average customer expenditure per visit to the gallery, was 4% higher in the first three months of 2024 than in the same period in 2023.
In January 2024, shopping centers had 1.7% lower footfall compared to January 2023. In February, the number of visits increased by 4.7% year-on-year, and in March by 6.2% year-on-year. As a result, in the first quarter of 2024, shopping center footfall (PRCH Footfall Density Index), measured by the number of customers per sqm of rental area, was 3.1% higher than a year earlier.
PRCH Turnover Index – is the largest tenant turnover indicator in shopping centers in Poland. Due to the confidentiality and sensitivity of such data, PwC, a leading international auditor, has been overseeing their collection, verification, and analysis since 2008. The information comes from reports provided to shopping center owners and managers directly by tenants. Tenant turnover results in shopping centers are reported in PLN, per sqm of rental area.
PRCH Footfall Density Index is the largest footfall indicator in shopping centers in Poland. PwC, a leading international auditor, has been continuously overseeing the collection, verification, and analysis of footfall data since 2008. The index is prepared based on information provided by modern camera systems, allowing for real-time, daily measurement of traffic in shopping centers. It is the most reliable system analyzing customer flows in shopping centers, with accuracy reaching up to 98%. Customers visiting galleries are counted using 3D cameras installed at each entrance. To minimize the possibility of errors, cameras are also installed in additional key areas for traffic verification in a given facility. The information is collected from shopping centers with a total area of over 4.5 million sqm, which constitutes more than 33% of the shopping center market in Poland. Thanks to this, the index very reliably shows the number of customers per month, per sqm of rental area.
