2020 has been an unforgettable year, one that most will be more than happy to see the end of. This is particularly true for the retail sector, with this year being subjected to disruption on an unprecedented scale. For retailers, retail property owners and investors alike, this year has been characterised by a variety of obstacles such as store closures due to lockdowns, concerns over inventory and supply chains, difficult negotiations over rents and income, rapid acceleration of e-commerce and omni-channel models, and a general uncertainty that has touched all areas of the global population and economy.
In this latest edition of our ExCEEding Borders series, we take a look at the retail real estate market and sector across the CEE-17 countries, with a specific focus on shopping centres and retail parks. We also look at the trends impacting both consumers and the retail sector overall, some of which have been in the making for a few years already, as well as bringing insights from a few of the key players who are active in the region.
Although for many times are very challenging, there are some green shoots of optimism. Whether they be related to the updates on vaccines and the impact they will have, or the success stories that have risen out of the pandemic through the need to adapt to the ever changing conditions and restrictions.