Clothes are escorted according to the mind – Newspaper Kommersant No. 15 (7460) of 01/27/2023
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The departure of some global fashion brands from Russia has led to a sharp decrease in the activity of tenants in this segment in shopping centers. In 2022, the share of clothing and footwear stores in the structure of new rental transactions decreased to a five-year low of 34%, and now service and entertainment operators take their place. The latter provide a stable flow of visitors and rent large areas, but pay low rental rates.
The share of fashion retailers in the total volume of new transactions for the lease of space in shopping centers in 2022 fell from 42.2% to 34%, which was the lowest level over the past five years. This is stated in the CORE.XP study. Similar figures are provided by Nikoliers, where they calculated that by the end of 2022, fashion retailers occupied 32.6% of the space in shopping centers and 21.6% in the structure of new lease transactions. The dynamics at Nikoliers were not disclosed.
Alexey Vanchugov, managing partner of Vanchugov & Partners, attributes the trend to the departure of some foreign fashion brands. It was the global players that previously ensured the high activity of clothing retailers, he points out. According to CORE.XP, 37% of brands have announced the termination of their activities among shopping center tenants. The most sensitive for property owners was the departure of the H&M group (which managed about 150 stores), indicate in CORE.XP. And the points of Inditex (Zara, Massimo Dutti, Pull & Bear, Bershka, etc.) came under the control new owners.
Fashion Consulting Group (FCG) CEO Anna Lebsak-Kleymans notes that in the world, global brands such as Zara, H&M and Uniqlo also slowed down the pace of opening new stores in 2022, activating various marketing programs to attract customers online. According to her, this is due to the general transition of part of the demand for clothing and footwear to online platforms, which intensified even during the pandemic.
According to CORE.XP, against this background, operators from the service and entertainment sector began to increase activity in renting premises in shopping centers. In 2022, their total share in the structure of new transactions increased from 18.6% to 39.3%, the company calculated. These consultants include spas, bowling alleys, fitness clubs, repair shops, medical centers, beauty salons, etc.
Nadezhda Tsvetkova, head of the CORE.XP retail space leasing department, notes that such tenants are more profitable for the owners of shopping centers, as they form a stable flow of visitors and rent large areas. If clothing stores occupy an average of 380 sq. m, then services – 670 sq. m, and entertainment centers – 1.95 thousand square meters. m, she says. Franshiza.Ru expert Anna Rozhdestvenskaya also notes an increase in demand for organizing restaurant spaces in shopping centers. But, adds Ms. Tsvetkova, operators of service and entertainment outlets pay a low rental rate, the growth potential of which is limited.
As CORE.XP points out, tenants who generate stable traffic are especially important for shopping centers today. According to Focus Technologies, from January to November 2022, the Mall Index (the number of visitors per 1,000 sq. m) in shopping centers with an area of 80,000 sq. m. m in Moscow and the Moscow region decreased by 25% year-on-year. In objects ranging from 40 to 80 thousand square meters. m indicator decreased by 7%.
President of the National Fitness Community Elena Silina notes that clubs receive offers to rent premises in shopping centers, but they are not always interested in such options. “Often, the cost of rent in shopping centers is overpriced, and the level of engineering communications may be insufficient,” she explains. In addition, Ms. Silina adds, reduced traffic in shopping centers reduces the ability for clubs to attract customers. Evgenia Khakberdieva, regional director of retail real estate at NF Group, says that for owners of shopping centers, the ongoing events may become an indicator of the need to change the concept and adapt objects to the needs of other tenants.
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