Spending per head at shopping centres has decreased by 1.7% over the past year, to the lowest level since the end of 2015. One of the reasons could be that consumers appear to prefer shopping at their local neighbourhood centre rather than at a big mall
One of the reasons for this could be that consumers increasingly appear to prefer doing their shopping at their local neighbourhood centre rather than at a big mall.
The growth in trade density for the year ending in September also increased by 4.3%, against reviewed growth of 4.1% for the year to June. De Goede said stronger growth in trade density had to be seen against a backdrop of the consolidation of space in retail, especially among grocery retailers. “Although some of the retailers have reduced the size of their centres, they are still succeeding in trading at similar levels to some of the bigger shops,” he said.
Their performance is affected by the fact that many of these centres are located in the same catchment areas as some of the smaller convenience centres and some of the superregional centres, with a larger variety of lessors and longer trading hours.
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