The increase in turnover and in footfall indicates that Poles have permanently returned to shopping centers. At the same time, we are witnessing further development of retail parks, convenience centers, and mixed-used facilities in line with the concept of the 15-minute city. Analyzing the third quarter, experts from BNP Paribas Real Estate Poland also note a decline in vacancy rates in shopping centers and growth in AI-driven retail solutions.
Malls regain popularity
The overall footfall in malls increased by 4.3% compared to the previous year in July and was the highest so far this year. The sustained trend of increasing customer numbers shows that Poles have permanently returned to shopping centers. However, when analyzing the shopping baskets of customers in medium and smaller facilities, we observe that during a period of high inflation, their purchasing decisions are still cautious
says Fabrice Paumelle, Head of Retail, BNP Paribas Real Estate Poland.
Dwindling number of vacancies
AI Makes its mark
Undoubtedly, the development of technology in online stores was accelerated by the pandemic, which in turn raised customer expectations for shopping, both online and in brick and mortar stores. Retailers, by meeting consumer needs and optimizing their costs and efficiency, more and more rely on AI-based solutions. Their main goal is to improve customer service quality by reaching them with personalized offers and presenting exactly what they need
emphasizes Anna Pływacz, Director, Retail, BNP Paribas Real Estate Poland.
The boom in mixed-use schemes
Mixed-use investments allow for an efficient use of land, especially in large urban centers where there are essentially no empty areas without history to develop. The commercial real estate market has become saturated with traditional projects, as exemplified by Warsaw's Mordor, which for well over a decade was predominantly an office monoculture and is now gradually being transformed into a modern urban district with efficient road communication, green spaces, and educational facilities
adds Anna Pływacz.