2024 was the best year ever for shopping centre sales in Portugal, with a 7% increase in turnover compared to 2023.
The figures are from a study by Reduniq Insights, developed by the Portuguese Shopping Centre Association (APCC) on sales using electronic means of payment, and point to an increase of 14% compared to 2022 and 31% compared to 2019 (pre-pandemic).
The number of transactions also grew last year, by 7% compared to 2023, a higher variation than in previous years. This is because the results are also justified by a greater number of visitors, and not just by the value of the purchases made.
The APCC's executive director, Carla Pinto, said in a statement that ‘we are very pleased with the results achieved by our tenants in 2024, which confirm the growth trend that has been taking place. The data shows the strong contribution that this sector continues to make to the national economy and is also proof of the importance of shopping centres in the daily lives of the Portuguese, with the availability of opening hours and days being a decisive factor in the choice and preference of countless visitors.’
Carla Pinto believes that the results ‘are also the result of the work that these spaces are constantly doing to respond to people's needs, because shopping centres are much more than just places to shop, they are a meeting point for leisure and well-being, where you can find everything from health services, such as hospitals, clinics and pharmacies, to a wide range of cultural, entertainment and catering options, among others.’
Most sales in Portuguese shopping centres were made in the last quarter of the year. The average spending per customer indicator increased every month of this period compared to the previous year, which is the first time this has happened. December, the month of Christmas, was the best month for turnover, with each purchase registering an average value of 40.97 euros. For the year as a whole, the average value of each transaction was 33.80 euros.
This study also shows that the 23rd of December was the most active of the year, followed by the 21st and 22nd of the same month, and the 30th and 29th of November, during the Black Friday period.
Throughout the year, 35% of sales were made at the weekend. Saturday is the day of choice, with 19 per cent of turnover, followed by Sunday, with 16 per cent of the total.
After-work hours continue to play an important role in this activity, concentrating 38 per cent of all transactions. The study also highlights that tourists accounted for 12% of total turnover.
As far as the various sectors of activity are concerned, the highlight goes to catering, which grew 11% in turnover compared to the previous year and 9% in number of transactions, reinforcing the increase in demand that has been seen in shopping centres.
But fashion continues to be the segment with the greatest weight in total turnover, with 36%, followed by supermarkets, with 23 per cent, and household appliances and technology, with 11 per cent.