New brands boost traffic on high streets

"The market of native high streets, compared to Western European countries, still has a small share in the retail and catering sectors. However, its role is still growing, and we will catch up with Western markets in about 10 years. The development was accelerated by a pandemic in which both brands and customers began to turn to shops and restaurants accessible from the street level more often, especially compared to those located in less accessible shopping centers. As a result, the vast majority of tenants on high streets stayed in their locations, both in the gastronomic, fashion, and cosmetic ones, Renata Kamińska, a high street specialist at CBRE, assessed.

We also observe great interest among new businesses that want to enter this market. There is a growing need to diversify your locations. Interestingly, they include not only restaurants or small trade but also companies from the automotive industry, e.g. producing electric cars. The most popular are premises in city centers, but there is also more traffic in typically residential districts.

“We can forecast that in the coming months, high street retailers that have not yet reached pre-pandemic levels will be able to make up for this,” Renata Kamińska added.

(WBJ)