Consumer appetite remained strong following the „reopening“ of shopping centres.
Q2 2020 was greatly affected by COVID-19 due to the compulsory quarantine of inhabitants. Gradual closing of non-essential stores started on 13 March and in parallel the introduction of protection measures in opened stores was introduced. Since 27 April business premises up to 2,500 sq m outside shopping centres were opened, followed by shopping centres „reopening“ on 11 May. F&B in the shopping centres started operation from the 25 May.
Oxford Economics forecast a drop of retail sales by 5% y-o-y in 2020 and a 8% increase y-o-y in 2021.