In the first quarter of 2023, business climate indicator improved compared to the previous quarter and stood at 46.8 points mainly due to the companies’ positive assessment of the current business situation and optimistic expectations. The the trade sector most positively assessed the current situation in business.
Teiko Lominadze, the marketing director of "Quadrum Georgia" told "Commersant" that the turnover growth dynamics at "East Point" is caused mainly by inflation, although the war had a short-term positive impact on the Georgian trade sector as well.
"Last year and in the first quarter of the current year, the trend is increasing with regard to customers. It’s obvious that this was caused by the current situation in the region leading to a short-term effect in customers growth rate but still the trend is quite positive.
The first quarter of 2023 also started very well, positive dynamics are observed in retail trade. Compared to the pre-pandemic period, we can say that the sector has completed its recovery.
The turnover of the shopping center has increased mainly due to inflation and not due to an increase in the number of customers or their improved financial situation," Teiko Lominadze notes.