RBC: attendance at shopping centers in Moscow fell by 39% since 2019

Attendance at shopping centers in Moscow fell to a minimum in four years, transmits RBC with reference to the attendance index data Rstat Index and Mall Index. The indicator reflects attendance per 1000 sq. m of retail space.

In the first two weeks of August, according to the Mall Index, attendance at the capital’s shopping centers fell by 11% compared to the same period last year. The indicator was 18% below the level of 2020 and 23% below the level of 2019. According to the Rstat Index, traffic decreased by 9%, 18% and 39%, respectively.

In general, in Russia, the indicator in August decreased by 9% compared to last year and fell 19% below the level of 2019, according to the Mall Index.

According to Mikhail Vasiliev, head of research and consulting at Focus Technologies, commercial facilities did not return an average of 15 to 25% of the audience compared to 2019.

After the start of Russia’s special operation in Ukraine, many foreign companies suspended their work in Russia. Among retailers, this decision was made by the Inditex group (brands Zara, Zara Home, Massimo Dutti, Bershka, Stradivarius, Oysho), Tommy Hilfiger, Calvin Klein, Warner’s, H&M Group, etc. At the end of March, the Ministry of Industry and Trade recommended that shopping centers set a fixed rent for stores who suspended work in Russia, based on average pay rates.

In June, Crocus Group First Vice President Emin Agalarov said that the Crocus City Mall and the Vegas shopping mall chain lost 30% anchor tenants, including H&M, Inditex and Adidas brands.

Now he told RBCthat in the shopping centers of the Crocus Group in early August, attendance decreased by 14-21% compared to the same period in 2021, and compared to 2019, the figures fell by 20-35%.