Strong consumer confidence across Europe combined with falling prices is driving up sales, according to latest analysis by CBRE Global Investors.
Strong consumer confidence across Europe combined with falling prices is driving up sales, according to latest analysis by CBRE Global Investors.
The company said retailers in 11 out of the 13 continental markets where it is invested have reported positive sales growth, with Spain, Portugal, the Netherlands, Poland and the Czech Republic showing particularly strong year-on-year figures.
A combination of wage growth and falling prices is driving the trend, said head of retail Florencio Beccar. ‘We have definitely moved on from describing consumer growth as ‘patchy’ to a picture where we are seeing momentum across most of the continental markets in which we invest.
‘This is being driven by falling prices and higher wage growth but also by consumer behaviour. It appears that appetite to spend has returned as soon as people can afford to do so.’
Strong growth was recorded in staples such as household goods and pharmacy items, but the sales patterns indicated a move towards non-basic items and leisure. There were significant increases year-on-year for cinema, restaurants and bars, accessories and specialist electronics.
Marije Braam, head of EMEA retail research, said: ‘The figures indicate that consumers are now treating themselves alongside their basic shopping needs in our centres. The high spending on cinema and eating out also underscores the growing role that leisure is playing in successful shopping centres.’
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PROPERTYEU AT MAPIC 2015
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European Retail Investment & Asset Management
Date: Thursday, 19 November 2015
Time: 11:00 - 11:40
Location MAPIC - TriGranit Stand, Stand C1, Riviera Hall (R7.C 1), Palais des Festivals
Finding the right investment opportunities in Europe
Where are the best returns and opportunities in European retail? Which cities & markets? Which sectors - High Street, Shopping Centres, Retail Parks, Luxury or Budget? How do leading investors see the retail market? Join industry experts in a lively interactive discussion focused on the investors view .
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