More than 100,000 sqm of new retail space appeared on the market between the beginning of April and the end of June 2022. Smaller commercial formats accounted for more than half of the delivered space. Aside from retail parks, the second quarter also belonged to convenience-type centers. In the analyzed period, a continuous fall of shopping Centre share in the total stock was observed, which are giving way to discount chains.
- Taking into account that inflation has continued to raise for months now, in the first half of the year it has not yet impacted significantly the level of demand, including fashion. This is driven by the mixture of circumstances: lifting the pandemic restrictions on one hand, on the other one, this is the impact of the season. Spring and summer create naturally better shopping moods, which are used by majority of chains, recording a rebound in sales. This is also shown in the data collected by PRCH, which indicate that in May 2022 footfall in shopping centers, measured by the number of customers per 1 sqm of leasable space, was 7.8% higher, compared to the pre-pandemic May 2019. The increase was also visible in turnover, which compared April 2022 to April 2019 increased by 13%
says Renata Weikert, from the Retail Leasing Department at BNP Paribas Real Estate Poland
However, one should underline that higher turnover does not mean that Poles are buying more. Poles are certainly buying more cautiously, taking deeply into consideration the continuously deteriorating economic situation, and inflation is the factor responsible for higher basket value (it has arisen by more than 20% since April 2019 which was the last pre-pandemic year), which then impacts the level of turnovers
- The authors of the analysis underline the increasing key role played by re-commerce, accompanied by environmental and economic motivations, while providing staunch support for technological knowledge, as well as sharp and significant marketing message. - The circular economy changes the image of online trade and will make its mark on the warehouse and logistics market in the near future. Its potential was first recognized by start-ups – which today are powerful marketplaces, valued at billions of dollars – and now it is time for large, global companies like Zalando Circle. It is estimated that the second-hand clothing market will at least double between 2022-2026, and the sector will grow at the rate of 15-16 % per year
notes Małgorzata Fibakiewicz from the Business and Intelligence HUB at BNP Paribas Real Estate Poland.