Shopping center turnover increased by 5% y/y and footfall by 2% y/y in October

In October 2023, shopping centers in Poland experienced a 5% year-on-year increase in tenant turnover, according to the Polish Council of Shopping Centers (PRCH). Visitorship, measured by customers per 1 m2 of rentable area, rose by 2% compared to the previous year. The turnover growth aligns with a 4.8% increase in retail sales reported by the Central Statistical Office. Notably, the fashion category saw a significant 9% surge in turnover. After a September slowdown due to record-breaking warm weather, October marked a rebound. The footfall of shopping malls increased by 2% compared to October 2022.

The conversion rate for all tenant categories rose by 2.9% in October 2023 compared to the same period in 2022. In terms of commercial facility size, the smallest centers (5-20 thousand m2 GLA) recorded a 10% turnover increase, large facilities (40-60 thousand m2 GLA) saw a 7.5% rise, and the largest shopping malls (over 60,000 m2 GLA) reported a 4.2% increase. Medium-sized facilities (20-40 thousand m2 GLA) experienced a 2.1% growth. The PRCH, a not-for-profit association with over 200 members in the trade and service industry, provided these insights. 

Source: inwestycje.pl