“This study reveals that shopping centres have evolved over the decades to become true multifunctional centres, offering integrated shopping experiences, social initiatives, entertainment and support for community causes. Today’s Shopping Centres are the result of a growing evolution towards to adapt to new social and economic realities”, according to a report by Notícias ao Minuto.
The study also reveals that, despite the sharp growth of e-commerce, “Portuguese consumers still prefer the in-person experience, with in 2022 online purchases totalling €4.1 billion (8%), and in-store purchases representing €47.3 billion (92%)”.
The sector has more than 3.8 million square metres of gross leasable area in Portugal, spread across 173 shopping centres in operation.
“Shopping centres represented 38% of retail sales in Portugal in 2022, employing around 368,000 people, which is equivalent to 80% of the retail workforce and 7% of total national employment. Considering the context European, and the year 2023, the study shows that investment in organized retail represented 45% of total investment in retail real estate”.