PRCH: Shopping center revenues up 6.5% y/y, footfall grows 4.5% y/y in July
In July, turnover for mall tenants in Poland increased by 6.5% y/y, as reported by the Polish Council of Shopping Centers (PRCH). Visitor numbers, measured per 1 square meter of rental space, were 4.3% higher y/y, reaching the highest point in 2023. Tenant turnovers outpaced the overall retail sales growth of 2.1% reported by the Central Statistical Office. This trend indicates a solid return of Poles to shopping centers. The growth in turnovers was observed across all categories of shopping centers, with the largest ones experiencing a 6.9% increase. Entertainment (26%), services (18.4%), gastronomy (17.2%), and fashion (5%) showed notable turnover growth.
The conversion rate, reflecting average customer spending per visit, was 2% higher in July compared to the same period in 2022. The sustained increase in customer numbers suggests a permanent return to shopping centers, although high inflation had a noticeable impact on consumer decisions, particularly in medium and smaller shopping centers.
Source: ISBnews
