IGD’s shopping centers confirm their appeal: the recovery of retailers’ sales continues at a sustained pace in October (+15% vs 2019)

In October 2021 retailers’ sales for Gruppo IGD’s entire network of Italian malls were +15.1% higher than in October 2019, while footfalls recovered approximately 90% of the 2019 levels.

The trend in retailers’ sales was also positive in the period June- October (the first 5 full months without restrictions), showing an increase +2.7% compared to the same months in 2019.

The good performance in October is attributable to an increase in sales across all categories of merchandise, with the exception of services and restaurants which reported a decline that was, however, less than in previous months.

With respect to prior months, both large and small stores reported increases and the percentage of points of sale posting growth was higher.

A very positive performance was recorded by the new brands introduced recently.

Clothing had an outstanding performance, with the growth trend for medium/large stores confirmed, while the smaller spaces showed improvement.

The growth in electronics continues (+30.1% vs ’19 like-for-like) which benefited noticeably from the incentives to purchase TVs compatible with the new digital terrestrial broadcast standards. The category’s best performance for the year was recorded in the month.

 

“The noticeable recovery in the operating performances once again confirms the validity of IGD’s business model and the appeal of our shopping centers; and, above all, demonstrates that physical shopping is still key for consumers” stated Claudio Albertini, IGD’s Chief Executive Officer.

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