The retail market says the sector performance in 2023 improved compared to 2022.
Nini Aduashvili, the head of communications service at "Galleria Tbilisi", says that sales in the retail sector are increasing annually, this summer was no exception. According to her, in some shopping centers, the sales have increased from 10 to 15 percent.
"Apart from locals, foreign visitors who came to the country were also active in terms of sales and accounted for 20 to 30%.
As for the daily rates, this summer more than 16 thousand customers visit our shopping center daily. The data show that flows are reduced by about 20% but have not affected the sales, on the contrary, we saw an increase in sales due to a growing number of customers with purchasing power. The number of receipts in terms of unit sales is quite high", Nini Aduashvili notes.
The industry has positive expectations about the autumn and expect a 10-15% increase in sales.
As a reminder, amid the development of the retail sector, demand for commercial spaces is also growing. According to TBC Capital research, demand for commercial real estate in malls increased by 22% in 2022 compared to 2021. Last year, the price of commercial real estate also increased by 22% and stood at $ 21-22.