Retailers in Romania’s closed shopping malls lose revenues of over EUR 15 mln per day

More than 9,000 stores typically generating daily revenues of between EUR 15 million and EUR 20 million have been closed after the decision of the authorities to temporarily suspend the purchase of goods considered non-essential from the shopping centers, according to an analysis made by the real estate consultancy company Cushman & Wakefield Echinox.

Stores that mainly sell food, electronic, pharmaceutical and pet shop products, as well as cleaning and optical services have been excepted from the restrictions included in the ordinance.

As a long-term impact of the shopping malls remaining closed, Cushman & Wakefield consultants see as possible a change in consumers’ preference for e-commerce.

“Apart from the food, pharmaceutical, maintenance and pet shop products, online commerce is currently the only option for consumers. Thus, depending on how long the social distancing will last, it is possible that the habit of ordering from the home comfort could change the way people purchase products in the future, especially food or other common products,” commented Bogdan Marcu, Partner Retail Agency, Cushman & Wakefield Echinox.

(Photo source: Shutterstock)