Survey shows shift from small shops to malls - sharp drop in Valletta business
Business in shopping malls in Malta is growing while smaller shops are seeing a slowdown, according to the first Malta Retail Review, announced today by Deloitte, EMCS and Bank of Valletta.
The survey found that while The Point shopping mall saw business grow by 14% in 2011 over 2010, and the Plaza was up by 5.3%, smaller shops saw their turnover down by 6.4%.
Overall, the survey found that retailers in the clothing and footwear sectors saw turnover increase by 0.5% in the first six months of this year compared to the same period last year.
Turnover among participating establishments grew by 0.4% in 2010 compared to 2010. But Valletta saw a drop of 10.3%, losing business to Sliema and Birkirkara.
Malls, in total, saw increased business of 8% compared to a 3.9% drop in high street shops.