The shopping center sector is responsible for almost half a million jobs in Portugal and achieved a turnover of 9,770 million euros in 2022, according to a study published on Wednesday by sector association APCC.
The research, presented at the annual congress of the Portuguese Association of Shopping Centers (APCC), this year under the theme “NextGen Retail Ecosystem”, also indicates that the sector contributes 6.4% of VAT revenues in Portugal.
In total, there are 173 commercial complexes in Portugal, responsible for approximately 123,000 direct jobs and 370,000 indirect jobs.
In 2022, shopping centers recorded a turnover of 9,770 million euros, an increase of 8.4% compared to 2019, the year before the pandemic, which recorded an industry record.
According to APCC, shopping center traffic (visits) is growing and the year 2023 “should produce figures comparable to 2019, the year in which visits reached record values”, in the order of 475 million people.
Data from Reduniq Insight shows that card settlements in shopping centers grew by almost 11% in the first half of 2023 compared to the same period in 2022, a record year with more than a third of purchases (39%) made with cards in stores in malls made on weekends and others during the week after work.
The turnover of shopping center stores to tourists now represents 11% of turnover.
Although forecasts indicate that Portugal will be the fourth country in the European Union with the greatest growth in the weight of ‘e-commerce’ (electronic commerce) by 2025, according to the study, physical stores “continue to play a fundamental role in the journey of the consumer”.
“Portuguese consumers still prefer personal contact and shopping centers are positioning themselves as leverage for personal contact,” notes the APCC.
In terms of sustainability, the work shows that 85.5% of operators have good management practices in place, in line with the UN Sustainable Development Goals, with 57.1% already producing photovoltaic energy or developing projects in the area.
The industry average recycling rate is 52.8%, with half of shopping centers being BREEAM, LEED or WELL certified.
Source: DN
