European shopping centres in struggle

“Retailers are working hard to maintain sales volumes

at the expense of profit margins,” according to a spokesperson for International Council of Shopping Centres.

Results of the organisation’s monthly Pan European Shopping Centre Executive Opinion Survey show that there was only a little surge during the month of December in the European Shopping Centre.

Shopping centre executives reported that many shoppers played a game of ‘cat and mouse’ in the month and delayed their festive shopping until the last week before Christmas. The ICSC said that this was a reflection of the growing shrewdness of consumers who now expect ‘January sales’ to begin before the shops shut for Christmas.

Much of the pessimism is a consequence of the fiscal problems persisting in many European countries. However expectations for the next six months show considerable improvement compared with the same time last year, even though tough economic conditions are expected to continue in much of Europe.