{"id":806,"date":"2018-10-22T14:31:52","date_gmt":"2018-10-22T14:31:52","guid":{"rendered":"http:\/\/ceo.com.pl\/en\/?p=806"},"modified":"2018-10-22T14:31:52","modified_gmt":"2018-10-22T14:31:52","slug":"polish-retail-market-in-q3-2018","status":"publish","type":"post","link":"https:\/\/ceo.com.pl\/en\/polish-retail-market-in-q3-2018\/","title":{"rendered":"Polish retail market in Q3 2018"},"content":{"rendered":"<ul>\n<li>Retail assets accounted for nearly 45% of the total investment volume recorded in the first three quarters of 2018<\/li>\n<li>42% of the retail space to be completed by year-end 2018 will open in cities with fewer than 100,000 inhabitants<\/li>\n<li>Five new brands entered the Polish market in Q3 2018: San Marina, Ximi Vogue, Kocca, Saffiano and Armani Exchange<\/li>\n<li>During the first six months of the Sunday trading restrictions in force, average shopping centre footfall was down by 6.6% and turnover fell by 3.0%<\/li>\n<\/ul>\n<p><strong>The Polish retail market maintains its momentum despite the partial Sunday trading ban. This year\u2019s supply is expected to hit approximately 490,000 sq m, the highest annual level in the last three years. Of that total, 52% will be delivered in cities a population of more than 400,000 while 42% will be handed over in cities with a population of less than 100,000, says global real estate services Cushman &amp; Wakefield in its latest report<\/strong><strong>\u00a0<em>MARKETBEAT POLISH RETAIL MARKET IN Q3 2018.<\/em><\/strong><\/p>\n<p><em>\u201cThe investment volume on the commercial real estate market in Poland hit nearly EUR 5bn after the first three quarters of 2018, an equivalent of 2017\u2019s total. Retail assets remained the most in-demand sector attracting EUR 2.14bn worth of capital, which accounted for 45% of the total transaction volume. More than 1.24 million sq m of retail space changed hands in 2018, accounting for 8.5% of Poland\u2019s total retail stock. 55% of the investment volume noted in the CEE region in the retail sector was registered in Poland, \u201d\u00a0<\/em>says\u00a0<strong>Jakub Budych, Senior Consultant, Capital Markets, Cushman &amp; Wakefield.<\/strong>\u00a0<em>\u201cThis year\u2019s investment volume is likely to set an all-time high on the Polish commercial real estate market. The final market performance will, however, depend on whether pending transactions are closed by the end of the year. Poland\u2019s upgrade to a developed market status on the FTSE Russel index has led to an increased investor interest in the Polish market and is a confirmation that Poland is ranked as an attractive and safe haven for capital,\u201d\u00a0<\/em>adds\u00a0<strong>Jakub Budych<\/strong>.<\/p>\n<p>Poland\u2019s total retail stock amounted to more than 14.4 million sq m at the end of September 2018. In Q3 2018, only 20,000 sq m of new retail space was opened across two new DIY stores (Leroy Merlin in Tarn\u00f3w and Castorama in Grudzi\u0105dz) and an extension of the Dekada retail park in Gr\u00f3jec. Poland also saw several smaller shopping centres and retail parks (sized below 5,000 sq m) completed in the period, including Vendo Park in Chodzie\u017c, Retail Park in Olecko and Retail Park in Radomsko.<\/p>\n<p>The strongest development activity is in both Poland\u2019s largest cities and smaller cities and towns with a population of less than 100,000. More than 800,000 sq m of retail space is currently under construction or has a valid building permit. Nearly 40% of that total will come on stream by the end of 2018. This year\u2019s total supply is expected to hit approximately 490,000 sq m, the highest completion level in the last three years. Urban agglomerations are dominated by large-scale shopping and leisure centre developments (Galeria Libero in Katowice, which is scheduled for opening in October 2018), mixed-use concepts (Praga Koneser Center) and extensions of existing schemes (Atrium Promenada in Warsaw with its new floorspace scheduled for opening in the fourth quarter of 2018). Smaller cities are developing largely through small-scale projects, retail parks and convenience shopping centres.<\/p>\n<p>According to Cushman &amp; Wakefield\u2019s analysts, five new brands decided to expand into the Polish retail market in the third quarter of 2018: San Marina, an Italian footwear, bags and accessories retailer (Wroclavia); Ximi Vogue, a Chinese and Korean brand offering home accessories and toys (Galeria Wile\u0144ska); Kocca, an Italian fashion retailer, and Saffiano, offering designer bags (Galeria P\u00f3\u0142nocna), as well as Armani Exchange, which opened its first store in Galeria Mokot\u00f3w. The Irish fashion retailer Primark is planning its debut in Poland next year with its first Polish store to open at Galeria M\u0142ociny.<\/p>\n<figure id=\"attachment_557\" aria-describedby=\"caption-attachment-557\" style=\"width: 300px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-557\" src=\"https:\/\/ceo.com.pl\/en\/wp-content\/uploads\/2018\/01\/Ma\u0142gorzata-Dziubi\u0144ska-300x200.jpg\" alt=\"Ma\u0142gorzata Dziubi\u0144ska\" width=\"300\" height=\"200\" title=\"\" srcset=\"https:\/\/ceo.com.pl\/en\/wp-content\/uploads\/2018\/01\/Ma\u0142gorzata-Dziubi\u0144ska-300x200.jpg 300w, https:\/\/ceo.com.pl\/en\/wp-content\/uploads\/2018\/01\/Ma\u0142gorzata-Dziubi\u0144ska-768x512.jpg 768w, https:\/\/ceo.com.pl\/en\/wp-content\/uploads\/2018\/01\/Ma\u0142gorzata-Dziubi\u0144ska-1024x683.jpg 1024w, https:\/\/ceo.com.pl\/en\/wp-content\/uploads\/2018\/01\/Ma\u0142gorzata-Dziubi\u0144ska-696x464.jpg 696w, https:\/\/ceo.com.pl\/en\/wp-content\/uploads\/2018\/01\/Ma\u0142gorzata-Dziubi\u0144ska-1068x712.jpg 1068w, https:\/\/ceo.com.pl\/en\/wp-content\/uploads\/2018\/01\/Ma\u0142gorzata-Dziubi\u0144ska-630x420.jpg 630w, https:\/\/ceo.com.pl\/en\/wp-content\/uploads\/2018\/01\/Ma\u0142gorzata-Dziubi\u0144ska-1920x1280.jpg 1920w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-557\" class=\"wp-caption-text\">Ma\u0142gorzata Dziubi\u0144ska, Associate Director, Consulting &amp; Research, Cushman &amp; Wakefield<\/figcaption><\/figure>\n<p><em>\u201cThe Implant project, which will soon break ground in Chmielna Street in Warsaw, is an interesting, brand-new concept on the Polish market. With its modular structure consisting of modern shipping containers, the scheme will be modelled on London\u2019s BoxPark and Bangkok\u2019s ArtBox. Implant will be divided into three core zones: F&amp;B, retail and services, and an event zone to create a social and cultural space that complements its main commercial use,<\/em>\u201d says\u00a0<strong>Ma\u0142gorzata Dziubi\u0144ska, Associate Director, Consulting and Research at Cushman &amp; Wakefield and author of the report.<\/strong><\/p>\n<p>In the first six months of the Sunday trading restrictions in force, shopping centres recorded lower footfall and turnover levels &#8211; on average down by 6.6% and 3.0%, respectively, compared with the same period in 2017. ING\u2019s economists expect consumer spending to slow down in the near future and investment activity to play an increasingly important role with Poland\u2019s GDP forecast to expand by 4.8% in 2018. The Polish government is, however, taking steps to extend the Sunday trading ban to last from 10pm on Saturdays until 5am on Mondays and to ban opening stores as post offices on Sundays.<\/p>\n<p>&nbsp;<\/p>\n<p>The Polish food sector is also transforming, report analysts of Cushman &amp; Wakefield. Large-scale hypermarket operators are not planning any new openings, focusing instead on restructuring and development of smaller, compact supermarkets and small-format stores. Discount retailers are experimenting with new formats \u2013 Biedronka, which has taken over some Piotr i Pawe\u0142 stores, has invested in retail offer and fit-out improvements. To increase customer loyalty, the food sector is also opting for new technologies such as beacons to monitor the customer\u2019s in-store journey, combining offline and online retailing (with many discount retailers in Poland currently working on it) and \u201cTap To Go\u201d solutions enabling customers to pay for products at a shelf using a special card.<\/p>\n<p><em>\u201cRetail continues to evolve and is likely to see more changes in the coming years than in the past decades. Technology-powered shopping will become easier, more convenient and enjoyable. It will be a golden age for consumers while the retail sector will continue to analyse and respond quickly by adjusting to growing consumer needs and requirements,<\/em>\u201d says\u00a0<strong>Ma\u0142gorzata Dziubi\u0144ska, Associate Director, Consulting and Research, Cushman &amp; Wakefield.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Retail assets accounted for nearly 45% of the total investment volume recorded in the first three quarters of 2018 42% of the retail space to be completed by year-end 2018 will open in cities with fewer than 100,000 inhabitants Five new brands entered the Polish market in Q3 2018: San Marina, Ximi Vogue, Kocca, Saffiano [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8,301,7],"tags":[3012,2826,2854,3013,151,3014,319,75,2719,231,3015,2754,64,2858,3016,82],"class_list":["post-806","post","type-post","status-publish","format-standard","has-post-thumbnail","category-real-estate","category-commerce","category-reports-analysis","tag-armani","tag-biedronka","tag-castorama","tag-chodziez","tag-cushman-wakefield","tag-ftse-russel","tag-jakub-budych","tag-katowice","tag-leroy-merlin","tag-malgorzata-dziubinska","tag-piotr-i-pawel","tag-play","tag-poland","tag-praga","tag-tarnow","tag-warsaw"],"jetpack_publicize_connections":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/comments?post=806"}],"version-history":[{"count":0,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/media\/557"}],"wp:attachment":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/media?parent=806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/categories?post=806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/tags?post=806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}