Turnovers of shopping malls in Turkey grow by 7 percent

Turnover of shopping malls increased by 7 percent compared to March last year while and the number of visitors also increased by 5.1 percent. The results of the AVM Index, jointly created by the Association of Shopping Centers and Investors and Academy Research, were released in March.  AVM Index data showed an increase of 5.5 percent in the first quarter compared to the first quarter of last year.

In March 2017, the amount of turnover per rentable area (m²) was 867 TL in Istanbul and 673 TL in Anatolia. Turkey’s total square meter productivity was 751 TL in March 2017.

The highest increase in turnover in March was in shoe-bag category with an increase of 21.2 per cent compared to the same period last year. When compared to March last year clothing and shopping mall categories increased by 19.2 percent, 17 percent and 16.9 percent, respectively. In March, technology category sales increased by 8 percent and hypermarket category sales grew by 2 percent. In March, technology category sales increased by 8 percent and hypermarket category sales grew by 2 percent.

When March 2017 data were compared with the same month of the previous period, it was observed that there was a 5.1% increase in the number of visits. On the other hand, the number of visits decreased by 2.8 percent in the first quarter compared to the same period of the previous year and dropped to 102 points.

Experts comment as follows: “The recent rapid increase in exchange rates, especially the dollar, has been affecting the economy seriously. Despite the inflation reaching double-digit figures, the uptrend paints a positive picture. The first three months of 2017 in which the referendum took place certainly affected trade activities but still there is a visible improvement in both the turnover index and the categories. Although there is a decrease in the number of visitors compared to the past year, the increase in the turnover index and categories reveals that there is an increase in the purchasing power and that the shopping preferences are made in favor of shopping malls. The number of visitors together in March indicates that there is a recovery compared to the previous month. After the referendum, we can say that there will be stability in the next period, the turnover index and the number of visitors, and that a more favorable environment will be provided for our sector. “