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.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Titanium acquires Ozols shopping center in Riga

The asset was exited by KS Holding to Titanium Baltic Real Estate. The former shopping center Galerija Azur was acquired by the seller in 2016 and redeveloped over three years, then opened under the new name Ozols.

Coniq develops new loyalty programs for Reem Mall in Abu Dhabi

Coniq announced their partnership with Reem Mall (Abu Dhabi) to develop innovative engagement and loyalty programs for unique customer journeys backed by the latest data science, especially for the GCC market.

FCR buys 26, 000 sq m shopping center in Eisenach

FCR Immobilien AG has acquired a shopping center in Eisenach, Thuringia, with a sales area of approximately 26,000 sq m as part of the continuous expansion of its portfolio. opens first UK store in Manchester Arndale

Manchester Arndale announced that fashion retailer Boohoo has opened its first beauty store at the center.

Trafford Center launches Tinsel Town outdoor experience for festive period

Manchester’s Trafford Centre created a festive outdoor experience with Tinsel Town, following the recent Summer Social and Spookfest events.

400th Primark store opens in Italy

Primark opened its 400th international store in Sicily (Italy) today, which now totals eight fashion outlets in their Italian portfolio.