Growing gross national product, declining unemployment and positive growth prospects are creating a consumption-friendly climate in the shopping malls of Slovakia. The shopping mall index from the real estate agent CBRE shows an increase of 500,000 visitors in 2016 to a total of 63 million visitors. Sales per buyer increased by 3%. At present, ten new shopping malls or extensions are planned.
The most important retail market is Bratislava. The capital district accounts for almost half of total turnover; accordingly, it is also where investment activity for shopping malls is concentrated. As Germany Trade and Invest reports, foreign corporations control trade in “fast-moving” products. Britain’s Tesco is the market leader. The Coop Jednota shopping cooperative is leader amongst the country’s own chains. Petrol stations are playing an increasingly important role as sales channels
Slovakia remains a small market
But despite the extremely positive development and still good conditions for market entry, Germany Trade and Invest warns in the same report about generating too much euphoria. With almost 5.5 million inhabitants, Slovakia remains a small market. In addition, only 70 euros are spent on food per person each month. Again and again, well-known trade chains have failed to build up a profitable business in Slovakia because of their small market size.