In Q3 2020 retail brands and retail schemes were focused on activities aimed at rebuilding sales’ volumes. These activities have been yielding results: footfall and turnover levels were gradually improving. In the first three quarters, the market experienced over 140,000 sq m of new retail space, while further 120,000 sq m has been announced to be delivered by the end of 2020. As a result, new supply is estimated to be only 10% lower than in the previous year, proving that the Covid-19 pandemic has not resulted in any delays in projects at an advanced planning stage or under construction. The retail market is now leaning strongly towards the “convenience” segment. The analysis of vacancy levels in the 8 largest Polish agglomerations showed an increase in the average ratio by 0.7 pp in August 2020 in relation to the end of 2019. This is a relatively small increase when taking into account the unusual circumstances associated with the pandemic impact on the retail market.

 

We wish you pleasant reading!