Around one quarter of Czechs are planning to visit malls less after the pandemic, and spend less when they do visit. This is primarily because the majority of Czechs have expressed concerns over their economic situation, and are looking to save more money. Photo credit: Freepik / For illustrative purposes.
Czech Rep., Jun 30 (BD) – According to a survey conducted by Ipsos, Czechs will visit shopping centers less often after the pandemic than before. The majority are not worried about getting infected in the busy malls, but rather are worried about the economic uncertainty, and have reported needing to go back to saving money after their savings have been depleted.
Before the pandemic started, two thirds of the population reported visiting shopping centres at least once every two weeks. After the pandemic, nearly 25% said that they are planning on visiting malls less often, or not at all. Just 5% are planning more frequent visits, mostly people who were already visiting malls above average, at least once a week. A majority of people (70%) see no reason to change their shopping habits.
For shopping malls and retail store owners, it may be more concerning that 24% of respondents are also planning on spending less when they do visit the mall, compared to before. The average expenditure per visit prior to the outbreak ranged between CZK 500 and 2,000. According to Ipsos, especially women and younger people under the age of 35 were looking to spend less. Only 3% of respondents said they are looking to spend more.
“The possible decline in business in stores in shopping centers causes considerable concern for owners and directors of companies for which income from brick-and-mortar stores is essential,” said Vaclav Hrbek, director of Alpine Pro and chairman of the Retail Association.
The motivation for those planning to go shopping less frequently is much less fear of infection than economic security. Around one third of the respondents reported worries about high concentrations of people and increased risk of infection in shopping centers. A more pressing concern for Czechs seems to be the uncertain economic situation. More than half of respondents were concerned about the impact of the pandemic on their income, and a third were concerned about being made redundant. Nearly 60% also said that they were looking to save more now and in the future.
Another reason for the decrease in visits to shopping malls is the increase in online shopping. Around 10% of respondents said they will continue to shop online for at least some products.
