Poland saw 33 new schemes delivered to the market in 2020 despite retail being in crisis. What does the future hold for the newly-built and existing shopping centres and retail parks? Beata Kokeli, Head of Retail Agency at Cushman & Wakefield, talks about trends in the retail sector.
What’s in store for the retail market? This is a million-dollar question. The market is mired in uncertainty and nobody knows how long we will have to operate in the pandemic reality. According to many predictions, vaccinations will enable a return to the pre-pandemic world and, subsequently, to shopping in brick-and-mortar stores in the middle of this year. What then? No research is available on this topic yet, but as we continue to monitor the market we expect a significant increase in vacancy rates. Premises are likely to be vacated particularly by tenants from such sectors as food & beverage, fitness and entertainment operating in shopping centres, high streets and on ground floors of office buildings.
The pandemic has undeniably changed shopping patterns and raised many questions: will shopping centre food courts be in demand? Will customers want to leave their children in kids’ play areas? How to develop a tenant mix? Will Gen Zers want to spend their leisure time in shopping centres, as most shoppers in brick-and-mortar stores are now over the age of 40?
Although research into shopping centre trends in the post-covid era is still a thing of the future, some directions of change that were revealed by the pandemic can already by identified:
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