The impact of the pandemic on shopping centers has been significant, with changes in consumer behavior becoming more apparent. Dina Bunce, the director of the „Domina Shopping“ center, notes that people are visiting shopping centers less frequently post-pandemic but are making more targeted and purposeful purchases. This shift in shopping habits has led to changes in the way retailers operate, with a focus on efficiency and customer satisfaction.
Reflecting on the past year, Bunce describes it as unexpectedly successful for „Domina Shopping.“ The center, managed by real estate fund „EfTEN Capital“ for eight years, saw record-breaking results in terms of sales, foot traffic, and occupancy rates. The year was marked by the successful opening of the „Peek&Cloppenburg“ store and the renovation of the „Sportland“ store, both of which have been well-received by customers.
Financially, the center saw a significant increase in sales, with a 10% growth in turnover and a 12% increase in the number of transactions. Despite the challenges posed by inflation, the center experienced a surge in sales of home interior products, services, and clothing. The year 2023 also saw the opening of 16 new stores at „Domina Shopping,“ indicating a positive trend in business development.
The impact of inflation on consumer behavior has been noticeable, with people becoming more cautious and deliberate in their shopping decisions. While foot traffic has decreased, sales have remained steady, indicating a shift towards quality over quantity. The center now sees an average of 15,000-16,000 visitors per day, a decrease from pre-pandemic levels but with higher sales figures.
In terms of competition with e-commerce, Bunce believes that physical shopping centers still hold an advantage, especially in providing a unique and immersive shopping experience. While e-commerce has seen growth, particularly in certain product categories like sports goods, the convenience and accessibility of shopping centers remain appealing to customers.
As for the future, Bunce emphasizes the importance of stability and continuous improvement in the face of market challenges. While there are no immediate plans for new tenants at „Domina Shopping,“ the center remains focused on enhancing its dining options and exploring opportunities for growth. Investments in infrastructure and amenities are ongoing, with a keen eye on maintaining a competitive edge in the market.
In conclusion, Bunce acknowledges the evolving landscape of retail and the need to adapt to changing consumer preferences and market dynamics. By staying proactive and customer-centric, „Domina Shopping“ aims to remain a preferred destination for shoppers and a thriving hub for businesses in the years to come.