Mall turnover index up 14 pct in April

Published 07.06.2017 00:32

The Shopping Mall Turnover Index in April reached 208 points after increasing by 14.2 percent, compared to the same month of last year. Jointly prepared by the Shopping Malls and Investors Association and the Akademetre Research Center, the index results, however, were not inflation adjusted.

Meanwhile, it also revealed, that the turnover of leasable areas on a square meter basis in shopping malls was realized at TL 912 ($259.19) in Istanbul and TL 715 ($203) in Anatolia. Turkey's overall square-meter efficiency rose to TL 794 ($225.66)

The shopping mall index showed the highest increase was in hypermarkets with an upsurge of 28.4 percent compared to the same period last year, outpacing the shoes-and-bags category which was in the leading positions for a while.

During the same period, turnover in food categories at shopping malls rose 14.6 percent, followed by technology with an increase of 13.9 percent, 13.5 percent in shoes-and-handbags and 13. 2 percent increase in clothing. The turnover in the "other" category, which had followed a fluctuating course for a while, surged 20.1 percent.

The index regarding the number of visitors also rose by 1 percent in comparison to April 2016.

Commenting on the April results of the shopping mall index, Hulusi Belgü, chairman of the Shopping Malls and Investors Association, stressed that the alleviation of exchange rate pressures in April relieved the importing retailers, who are experiencing problems due to leases in foreign currency.

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