The rise in consumer spending, which saw a 14% increase in the first nine months of last year as a result of the VAT cut, made a direct impact on the major shopping centers.
“The sales of the AFI Cotroceni stores were 10% higher in 2016 compared with 2015. The average shopping cart was 20% higher in 2016 compared with the previous year,” Sorin Scintei, general manager of AFI Cotroceni told ZF.
The growth came in a year that was regarded as the best in term of consumer spending increase and on a market that saw two new rivals opening – ParkLake Titan (70,000 square meters) and Veranda Obor (30,000 square meters).
(English version by Loredana Fratila-Cristescu)