Retail market Q2 2021

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In Q2 2021 no new shopping center was opened on the retail market of St Petersburg. The only one new project − furniture and interior center Cubatura − was opened in St Petersburg in Q1 2021.

St Petersburg market will add at about 88 ths. m2 of retail space (GLA) by the end of the year as long as the opening deadlines are met.

Demand

In H1 2021 fashion-retailers were the most active on the market, accounting for more than one third of new openings. Catering chains, predominantly of the mass-market segment, did not reduce their expansion. New restaurants have almost completely transferred their activity to the street-retail segment.

Only 3 restaurants were opened within shopping centers for the last six months.

The market continues to be influenced by the development of distant work formats supporting demand for DIY, home and interior goods. This sector ranked third in terms of demand in H1 2021.

There is a continuing upward trend in demand for non-essentials: jewellery, souvenirs, gifts, flowers, hobby products, etc.

New projects of gastronomic spaces appear in the city. In H1 2021 new projects of food halls development were announced in Atlantic City, Nord, Akademichesky, Kontinent and Zanevsky Kaskad shopping malls, as well as a part of the reconstruction of Moskovsky and Sytny markets.

New brands

In H1 2021 seven international and eight local brands entered St Petersburg retail market.