Newsec Property Outlook - Spring 2022
In this edition of the Newsec Property Outlook, Newsec has analysed trends on the physical retail market in the Nordics and Baltics. In the report, Newsec has identified a number of trends on the retail market that have not been highlighted earlier. Newsec find that the physical retail market in the Nordics and Baltics is thriving. A sizeable amount of retail is doing better than ever – including not just external retail areas and grocery stores, but also shopping centres.
From the report
Key insights
- Retail is doing very well. All forms of shopping centres – regional, district and neighbourhood - are performing well, and in many cases better than ever. In 2021, turnover increased compared to 2019 for both “experience-based” and “local” shopping centres. It is essentially only city malls which continue to post turnover figures substantially below those seen 2019.
- Footfall on the high street in the Nordics in 2021 is down an average of 29% - with the European average being closer to down 40%, and individual countries such as the Netherlands being down as much as 55%.
- Remarkably, almost all forms of retail tenants in shopping centres have seen turnover increase compared to 2019 in 2021, with only books and other retail continuing to decline. Even clothes & shoes have seen turnover in stores increase in 2021.
- Retailers are starting to think more about what experiences and community service they can provide to enhance the retail experience, but more can still be done.
- The intersection between ESG and retail space is becoming more important – and physical retailers can capitalize on this in many ways.
Details
Publication date
220309
Language
English
Tags
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