Mark Robinson, Research Specialist, CEE explains:
“As disposable incomes climb continuously towards EU average levels, purchases of fashion apparel and accessories become ever more important as a driver of consumer spending. Fast recent-cycle GDP growth, low unemployment and wage hikes all add up to booming conditions for fashion in CEE presently”.
Key findings from the report include:
- Retail sales are growing in the whole region, with a cycle-high level of 11% in Romania in 2017
- Shopping centres dominate the retail industry in the region; the only market in CEE 14, where the high street segment plays a central role is the capital of the Czech Republic – Prague. The biggest shopping centres market in the region is Poland with nearly 500 schemes, totaling 11,8 mln sqm of GLA.
“Despite the dynamic growth of online sales, also in the fashion sector, Poles still like buying in shopping centers, which is indicated by foot-fall levels – the best sites are visited by 1.5-1.7 million people per month”, says Katarzyna Michnikowska, Associate Director, Research and Consultancy Services, Colliers International.
- Fashion anchors in the CEE-14 achieve prime turnover levels of 350-450 EUR/sqm/month
- CEE is still attracting international retail chains – spectacular debuts are taking place in Poland (Primark), Romania (Victoria’s Secret) and Latvia (Van Graaf) among others. Polish brands are very active in the region, including Sizeer, present in 7 markets (Lithuania, Latvia, Estonia, Czechia, Slovakia, Hungary and Romania).
- In addition to its presence in shopping centres, the fashion sector is also a driver of volumes in ecommerce in the CEE 14 – in four countries (Bulgaria, Estonia, Poland and Czechia) its share in total e-commerce sales exceeds 30%.
Fashion anchors in the CEE markets include H&M, LPP, Inditex, New Yorker, C&A and TK Maxx. Below is a compilation of all the major anchors in the region.
* Albania, Belarus, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Lithuania, Latvia, Poland, Romania, Slovakia, Serbia, Ukraine.