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Shopping malls see slight fall in revenue
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DOMESTIC shopping centers recorded a slight fall in revenue in the second quarter after experiencing a peak season during the Chinese New Year holiday, said a joint study released yesterday by China Chain Store and Franchise Association and commercial property service provider CBRE.
The shopping centers’ comprehensive development index fell 3.5 points to 64.8 points, with a slight retreat in business activities from the peak of the Chinese New Year which fell on January 28, according to the survey which covered 100 shopping centers operated by 25 domestic retailers.
More than 95 percent of respondents said they expect revenue to climb in the next six months. The leasing activity sub-index added 0.5 percent from the first quarter to 81.3 points, which suggested brands were still favoring shopping centers as a key retail channel.
The cost sub-index fell by a further 6.7 points to 33 in the second quarter, below the 50-point neutral level, suggesting business operation costs were relatively high with April to June being a low season for sales campaigns and promotions.
Shopping center operators are banking on the upcoming one-week National Day holiday and the year-end shopping season to improve their revenue, the survey said.
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