Tenant turnover in shopping malls was 4.2% higher in the first half of 2024 than in the first half of 2023. During the same period, the Central Statistical Office reports, the increase in the prices of consumer goods and services was 2.7% in total.
“During the first six months of 2024, tenant turnover in shopping centers increased by 4.2% compared to the first half of 2023. This means that it was significantly higher than the increase in the prices of consumer goods and services for total retail trade, which during the same period was 2.7%. This is evidence of the good condition of shopping centers as a sales channel. An interesting case is the clothing and accessories category – tenants from this segment, operating showrooms in shopping centers, recorded a 3.5% increase in turnover, while the Central Statistical Office data shows that total trade in the category covering such products recorded a 14% drop in sales,” says Marcin Klammer, Managing Director of the Polish Council of Shopping Centres.
“The sales results in the clothing and accessories category in the monitored shopping centers are better than those reported by the Central Statistical Office and are partly due to the fact that shopping centers gather the most popular retail brands, while the office covers a broader spectrum, including smaller retail companies, in its monitoring. The scale of operation in shopping centers and investment in marketing allow for achieving better results than the market and prove the strength and attractiveness of this distribution channel,” comments Przemysław Dwojak, Senior Client Business Partner at GfK – An NIQ Company.
In the first half of 2024, tenant turnover, compared to the first half of 2023, increased in all categories of retail properties. The best results were achieved by the smallest centers (5-20 thousand sq. m. GLA), showing an increase of 5.9%. In large facilities (40-60 thousand sq. m. GLA), tenant turnover increased by 4.2%, similar to the results of the largest galleries (over 60 thousand sq. m. GLA) – their turnover increased by 4%. In medium-sized facilities (20-40 thousand sq. m. GLA), turnover increased by 3.6%.
In selected categories, the largest turnover increases in the first half of 2024, compared to the first half of 2023, were noted in: entertainment 11.4%, health and beauty 10.9%, and gastronomy 5.9%.
In June 2024, tenant turnover increased by 1.7%, compared to June 2023.
Visits to shopping centers (PRCH Footfall Density Index), measured by the number of customers per 1 sq. m. of rental area, were 0.9% higher in the first half of 2024 than in the first half of 2023.
The PRCH Turnover Index is the largest indicator of tenant turnover in shopping centers in Poland. Due to the confidentiality and sensitivity of this type of data, since 2008, the collection, verification, and analysis of these data has been supervised by PwC, a leading international auditor. The information comes from reports provided to owners and administrators of shopping galleries directly by tenants. The results of tenant turnover in shopping centres are given in PLN, in terms of 1 sq. m. of rental area.
The PRCH Footfall Density Index is the largest index of shopping center attendance in Poland. A leading international auditor, PwC, has been continuously responsible for collecting, verifying, and analyzing attendance data since 2008. The index is prepared based on information from modern camera systems that allow for actual, daily measurements of traffic in shopping centers. This is the most accurate system for analyzing customer flows in shopping centers, with an accuracy of up to 98%. Visitors to galleries are counted using 3D cameras installed at each entrance. To minimize the possibility of errors, cameras are also installed in additional places, crucial for the verification of traffic in a given facility. Information is collected in retail facilities with a total area of over 4.5 million sq. m., which makes up over 33% of the shopping center market in Poland. Thanks to this, the index very accurately shows the number of customers per month, in terms of 1 sq. m. of rental area.
Source: https://managerplus.pl/obroty-najemcow-w-centrach-handlowych-w-i-polroczu-2024-r-znaczaco-wyzsze-od-inflacji-60185
