Russian retail has entered a new phase
24.01.2012 2813

Russian retail has entered a new phase

In the segment of shopping centers there has been some stabilization, experts at Astera BPN Paribas say. According to the results of the 2011 year, a stable level of demand for retail space led to the fact that the level of vacancy in high-quality facilities reached almost zero indicators.

In these conditions, the owners focused on improving the efficiency of existing facilities. A tool for working with tenants was used as a percentage of turnover. For the first time, the owners saw tangible benefits from this tool: it allowed to attract tenants and ensured the growth of income to the owner.
“The Russian retail market has entered a mature phase. The level of requirements for premises and the selectivity of retail operators have increased sharply due to the instability of the financial markets. Retailers have changed their development strategy: having abandoned the focus on the rapid quantitative growth of stores at any cost, they turned to a balanced policy of choosing each specific premises depending on the potential of its use, ”comments Olga Zbrueva, head of the company's customer service department.

Restrictions on the construction of shopping centers in the center and the low volume of new facilities commissioned make actively developing retail chains turn to the street retail segment. The importance of image projects for retailers is decreasing. Many operators, who previously occupied premium segment premises on key shopping corridors of Moscow, are closing unprofitable stores and moving to shopping centers or to the street retail segment in residential areas.

In the process of forming rental rates for retail premises of the street retail format, two oppositely directed trends have emerged. On the one hand, there is a decrease in rental rates (up to 10%) for overvalued objects with long exposure periods. On the other hand, there is an increase in rental rates (up to 25%) for liquid premises at the end of the terms of contracts and when the tenant is changed on key shopping streets, writes the website

In the segment of shopping centers there has been some stabilization, experts at Astera BPN Paribas say. Following the 2011 year, a stable level of demand for retail space led to ...

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