What: Shopping centers managed by Cushman & Wakefield in Spain experienced an 8% increase in sales in 2023, with significant growth in sectors like fashion, leisure, cinema, video games, and perfumery and cosmetics.

Why it is important: This growth highlights the resurgence of physical retail, particularly in the fashion sector, and indicates a positive trend in consumer footfall and occupancy rates within Spanish shopping complexes.

In 2023, the 35 shopping centers in Spain managed by real estate giant Cushman & Wakefield reported an 8% increase in sales compared to the previous year. This growth was particularly notable in the fashion sector, which saw a 7% increase and played a crucial role in the revival of physical retail. The report also highlighted significant sales increases in leisure (17%), cinema (29%), video games (26%), and perfumery and cosmetics (17%).

Footfall in these shopping centers grew by 6%, with an impressive occupancy rate reaching 95%. Cushman & Wakefield also successfully completed 209 operations, marketing 95,000 square meters of space. Additionally, Via Outlets, another shopping complex operator, reported double-digit sales growth in its Spanish centers, with Sevilla Fashion Outlet and Mallorca Fashion Outlet experiencing 23% and 17% increases, respectively.

These figures not only demonstrate the vitality of the physical retail sector in Spain but also underscore the strategic importance of sectors like fashion in driving consumer engagement and sales. The overall performance of Cushman & Wakefield-managed centers and Via Outlets' positive results reflect a broader trend of recovery and growth in the retail industry, offering optimism for the future of physical retail spaces.

Cushman & Wakefield's shopping centers in Spain see 8% sales increase in 2023