Colliers International sums up H1 2020 in Polish retail market

According to Colliers International's research, in H1 2020 approximately 135,000 sqm of modern shopping centers were delivered to the market, which has resulted in an increase in the total stock of this space in Poland to 12.2 million sqm.

At the end of Q2 2020, over 350,000 sqm of modern retail space was under construction, of which approx. 60 percent will be delivered in Q3-Q4 2020. Taking into account the completed and under construction projects, the annual supply of modern retail space should amount to 300-350,000 sqm, slightly higher than in 2019.

New retail properties are being built mainly in cities with less than 100,000 inhabitants (over 60 percent  of the area) and are small properties (5-10,000 sqm) with a "daily shopping" profile. 

The largest project completed is Park Kujawia in Włocławek (23,700 sqm). Constantly the largest markets, both in terms of the number of facilities and their area, remain the markets of Warsaw agglomeration and Katowice conurbation. At the end of June, the density of shopping centers in Poland increased to 319 sqm/1,000 inhabitants. 

“The period of the pandemic significantly accelerated the dynamics of trade changes, which are moving towards multi-channel sales. The temporary closure of shopping centers has resulted in many chains deciding to launch additional sales and distribution channels, either on marketplace platforms or by expanding the scope and forms of electronic order and delivery. Definitely the strategy of digitization of companies has become fundamental for the development and maintenance of business stability, and this trend will be more and more visible”, Dominika Jędrak, director of Research and Consultancy Services at Colliers International, said.

(WBJ)