The Corona crisis had a major impact on stationary retail in Austria and faced considerable challenges. During the first lockdown 10.3 million sqm of retail space, which is approximately 73 % of the total retail space, were closed down in Austria. In this time, the lost turnover on a daily basis for the stationary retail amounted to EUR 140 million (gross)*, and for the gastronomy EUR 60 million/day. For lessors of commercial spaces the loss per month is supposed to be approximately EUR 200 million (rent and operational costs)**. Most of all the clothing, shoes, leather, and electronic sectors as well as the business in tourism hotspots had suffered massive losses. For the second lockdown the government mandated to temporarily shut down the complete non-food trade and gastronomy from November 17th to December 6th, 2020, so that the Austrian Trade Association fears a further decrease in sales of EUR 900 million for each week of the lockdown.***
Analysis reveals: COVID-19 was a turbo for the development of the stationary retail and, in some fields, has laid bare the weaknesses. But even ongoing trends were supported.
In our role as consultants, we have to face more challenges in this difficult situation, in order to support our clients with comprehensive analyses, to create together creative and cooperative solutions with the aim to position retail spaces sustainably in the future. Following Winston Churchills’ motto, “Never waste a crisis…”
Having this in mind, we hope you enjoy reading our new Retail Market Report, which again provides you with detailed numbers, data, and facts for all Viennese shopping streets and shopping centres as well as the investment market. Our retail experts, Patrick Homm MA, Anthony Crow MSc., Mag. Ditha Ritschka LL.B (WU), Stefan Braune, and Martin Denner BSc as team leader of Real Estate Research have compiled this report in months of research.
Feel free to contact us for a personal meeting where we can give you profound answers to your questions and provide you with more information!
Retail Market Report
Winter 2020 Edition
The latest edition of the Retail Market Report includes the following topics:
Treasure Hunt in the Retail Business
The Shopping Streets in Vienna
Areas of Urban Development
Download the latest edition of our Retail Market Report now or order a printed copy via our online form:
* Source: RegioPlan Consulting GmbH
** Source: STANDORT + MARKT Beratungsgesellschaft m.b.H
*** Printing of this issue: 16.11.2020