PL

POLAND Trad retail still set to play a major role – Colliers

Retail & leisure
In H1 2020 app. 135,000 sqm of shopping centre space was added to the Polish market, bringing the total stock up to 12.2 mln sqm, according to Colliers International.

At the end of Q2 2020, more than 350,000 sqm of retail space was under construction, of which app. 60 pct is to be completed in Q3 or Q4 2020. Therefore the annual supply of retail space should amount to 300–350,000 sqm, slightly higher than in 2019.

New retail properties are mainly being built in towns and cities with less than 100,000 inhabitants (over 60 pct of the space) and are small properties (5–10,000 sqm) with a ‘daily shopping’ profile. Only 22 pct of the new space is being constructed in the largest cities. The largest project completed in H1 were Park Kujawia in Włocławek (23,700 sqm).

At the end of June, the density of shopping centres in Poland increased to 319 sqm per 1,000 inhabitants. In the group of the largest conurbations, the highest saturation was recorded in Wrocław (888 sqm) and among medium-sized cities in Rzeszów (1,173 sqm).

In Q2 renegotiations were common between tenants and owners of shopping centres due to the onset of the Covid-19 pandemic as retail chains were forced by the lockdown to make drastic decisions related to maintaining sales continuity and minimising costs.

The pandemic period significantly accelerated the dynamics of the changes in retail, towards multi-channel sales. The temporary closure of shopping centres has resulted in many chains deciding to launch additional sales and distribution channels, either on marketplace platforms or by expanding the scope and forms of electronic order and delivery. The digitalisation strategies of companies has clearly become fundamental for the development and maintenance of business stability, and this trend will be more and more visible.
Dominika Jędrak, the director of research and consultancy services at Colliers International in Poland

Activity in the e-commerce sector has been growing significantly. For many companies, online business is set to reach about 20–25 pct of total sales within a few years. More mobile pick-up points and click & collect services have been introduced during the pandemic, while internet sales and cooperation with taxi operators have been launched.

Rumours of the death of traditional retail have been greatly exaggerated. Brick-and-mortar stores will continue to play a large role in building sales and the development of retail companies. However, strategies regarding the number, type of location and format will clearly have to be modified.
Katarzyna Michnikowska, an associate director for research and consultancy services at Colliers International in Poland

Dominika Jędrak, the director of research and consultancy services at Colliers International in Poland

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