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Huma Eleven, Vienna. Credit: SES/Robert Fritz

Daily loss of revenue amounts to up to 113 million euros for Austria’s stationary retail

Standort + Markt published a second estimate, which focuses on stationary retail‘s anticipated, daily, average loss of revenue at all Austrian shopping places. The results provide solid guidelines for the European retail real estate market in general.

The first part of the research of the Austrian consulting company Standort + Markt focused primarily on the daily average loss of revenue in Austrian shopping malls and retail parks (see the ACROSS article here: 29.7 million euros gross lost revenue per day in Austria). This second part of the research report addresses the anticipated, daily, average loss of revenue of stationary retail in all Austrian shopping places. This means that it includes inner cities (provincial capitals, district capitals, and important secondary locations within districts), shopping centers (shopping malls and retail parks), as well as specialist store agglomerations and smaller retail enterprises in remote locations.

Standort + Markt located each individual shopping area and assigned each one of them indicators to roughly estimate their respective revenue figures of Austria’s stationary retail sector. Therefore, it was possible to determine the daily average of the anticipated loss in revenue that will be accrued due to the decreed shutdown of Austria’s stationary retail operations. The Standort + Markt’s database included 46,000 shopping areas. Approximately 30,000 of these shops are from the stationary retail sector. This means that the database provides a clear picture of 79.8% of all shops. Smaller retailers in remote areas were originally not included, therefore they had to work with estimates for these retailers.

The results show that Austria’s stationary retail sector is facing an average daily loss of (gross) revenue of 113 million euros. The entire stationary retail sector loses at least 46.4% of its daily revenue per shutdown-day. The highest losses of 66.8% come from stationary retail in cities, followed by shopping centers with an average decline in revenue of 65.2% per day. The gross cost of the shutdown amounts to 500 to 700 million per week for the stationary retail sector. With 26 business days per month, the monthly loss of gross revenue could amount to up to 3 billion euros.