- Retail turnover for tenants operating in shopping centers increased by 5.3% in October 2024 compared to October 2023.
- The largest malls (over 60,000 sqm GLA) saw a turnover increase of 6.7%. In medium-sized properties (20-40,000 sqm GLA), turnover rose by 6.3%, while in large shopping centers (40-60,000 sqm GLA), it grew by 3.9%. Only the smallest malls (5-20,000 sqm GLA) experienced a slight decrease in turnover, down by 0.8%.
- The largest turnover increase was seen in the services category, which grew by 23.9%. In the health and beauty category, turnover rose by 12.2%, and the restaurants and cafes category saw a turnover increase of 9.6%.
– In October 2024, tenant turnover in shopping centers grew dynamically, particularly in the largest properties and cities such as Warsaw, Kraków, and Wrocław. It was 5.3% higher than the previous year, while according to GUS data, total retail sales in current prices grew by 2.3%. These figures confirm that the weaker results in September were seasonal and related to isolated events – comments Marcin Klammer, Managing Director of the Polish Council of Shopping Centers.
– The most important positive news from October’s data is that they are better than September’s. This means that the weak retail performance in September did not mark the beginning of a negative trend for the industry, reflected in declining sales. Naturally, the slight drops in smaller properties are worth noting, and in larger properties, we would expect at least the same growth as in medium-sized centers. We are waiting for the December results, which should be better and will allow a comprehensive assessment of 2024 – says Przemysław Dwojak, Senior Client Business Partner at GfK – An NIQ Company.
Footfall in shopping centers (PRCH Footfall Density Index), measured by the number of customers per square meter of rental space, was 0.5% higher in October 2024 compared to October 2023. The highest growth in footfall was recorded in the largest cities, including Łódź and Wrocław.
The year-round trend of increasing the conversion rate for all tenant categories in shopping centers, which measures the average spending per customer visit to the mall, remained steady. In October, the conversion rate was 1.6% higher than in October 2023.
The PRCH Turnover Index is the largest turnover indicator for shopping center tenants in Poland. It covers retail properties with a total area of over 5 million sqm, representing 38% of the shopping center market in Poland. Due to the confidentiality and sensitivity of such data, PwC, a leading international auditor, has been responsible for collecting, verifying, and analyzing this data since 2008. The information comes from reports provided directly to shopping center owners and managers by the tenants. Tenant turnover results are reported in PLN, calculated per square meter of rental space.
The PRCH Footfall Density Index is the largest footfall indicator for shopping centers in Poland. Since 2008, PwC has been responsible for collecting, verifying, and analyzing footfall data. The index is prepared based on information from modern camera systems that allow for real-time, daily tracking of foot traffic in shopping centers. This is the most reliable system for analyzing customer flow, with accuracy reaching up to 98%. Customers visiting malls are counted using 3D cameras installed at each entrance. To minimize errors, cameras are also installed in additional locations, crucial for verifying foot traffic in the building. Data is collected from retail properties with a total area of over 5 million sqm, which makes up 38% of the shopping center market in Poland. This makes the index a highly reliable measure of customer numbers per month, per square meter of rental space.
Source: managerplus.pl
