The constant rise in the cost of living could see consumers steering clear of large shopping centres. This is according to the prediction of property strategist, John Loos. He said rising fuel prices are likely to influence how far people travel to buy their goods.
“The petrol prices do add some significant pressure. They take petrol spends many people can’t avoid and people have to reprioritise on their expenditure,” he said. Non-essentials like eating out, movies and luxuries like clothes take a backseat.
“If you translate what type of shopping centres that would impact on: it’s the bigger ones whose focus is less on groceries but more on luxuries…it’s a disadvantage for bigger centres than smaller ones focusing on high-frequency foods and groceries more.
Source: eNCA
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