Retail Market. Shopping Centres | St. Petersburg | Q3 2023
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Retail Market. Shopping Centres | St. Petersburg | Q3 2023
16 октября 2023
The volume of quality retail property supply in St. Petersburg remained unchanged and at the same level as in 2022 — 3.21 million sq m.
After the expansion of tenants’ space and their presence within the walls of the shopping centers, the amount of vacant space went on shrinking both in the city as a whole and in the top-quality facilities.
New Turkish brands AVVA, Beymen Club and OXXO, which opened their first shops in SEC Galeria, have been added to the number of premiere brands for the St. Petersburg market over the past three months. MFG opened first shops of the new IDOL brand in SEC Piter Raduga, Europolis and Okhta Mall.
The abundance of brands and format varieties within one facility creates a so-called “paradox of choice” for visitors, encouraging retailers to transform themselves in order to attract new customers and stoke the interest. Most of the changes concern interior design updates, as well as creating additional spaces for shoppers (waiting areas, cafés) and new services (customized bars or stylist-led shopping).
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