I've been visiting a lot of the shopping malls over the past few weeks in Vic and would definitely say foot traffic is increasing especially in the last few weeks or so compared to a few months ago and It's great to see people getting out and about and supporting our retailers. Chadstone numbers on sat were very pleasing and good to see car parks slowly filling up again. Good to know management have longer term confidence in the Box hill area as well. That region will surge in the next 10 -15 years.
Below is an article from the afr.
copyright link/property/commercial/shoppers-return-as-stores-reopen-20200526-p54wfl
May 26, 2020 – 6.18pm
Thousands of retail stores have reopened their doors throughout the country's big shopping malls, with foot traffic steadily increasing as pandemic-imposed restrictions are eased.
Well-known shopping destinations controlled by the major retail landlords – Westfield operator Scentre, Vicinity, whose major investor is Rich Lister John Gandel, as well as fund managers GPT and Mirvac – are all experiencing a steady uptick in shoppers.
Credit and debit card data show consumer spending has recovered. Janie Barrett
"While our centres have been significantly impacted by the COVID-19 pandemic, over the past few weeks we’ve seen a consistent increase in customers visiting our centres across Australia," Vicinity's managing director, Grant Kelley, told The Australian Financial Review.
In Sydney's Pitt Street mall on Tuesday shoppers, some wearing face masks, could be seen strolling along with their purchases in hand or making their way into stores and onto escalators.
We are seeing early signs of recovery
— Vicinity's Grant Kelley
Myer's announcement last week that it will open the remainder of its department stores from Wednesday has also buoyed consumers' spirit.
Shoppers are increasing in number in suburban malls as well, with fund manager GPT, which controls centres such as Rouse Hill in Sydney and Highpoint in Melbourne's inner west, reporting better foot traffic.
"Across the portfolio, all major department stores that are allowed to trade in accordance with easing restrictions, are now open to shoppers, and we look forward to seeing approximately 85 per cent of our specialty retailers open for trade by the month's end," GPT's head of retail, Chris Barnett, said.
Across GPT's portfolio some 75 per cent of retailers are open, while some, such as cinemas, must remain closed due to restrictions still in place.
At the end of last month, GPT had reported that just 35 per cent of its retail stores, by number, were open and trading.
Foot traffic across the GPT portfolio is around 75 per cent of where it was at the corresponding period last year for most centres. It was at 65 per cent two weeks ago, and is up from around 50 per cent in April.
Scentre said customers were feeling more confident to visit its Westfield malls, where the range of retailers opening each day was expanding.
"We continue to see a steady increase in store reopenings each week,” a spokeswoman said.
Consumer spending data released on Tuesday added depth to the picture of an emerging rebound in shopping. Credit and debit card data from Commonwealth Bank and ANZ show consumer spending has recovered to the extent that it is now above where it was this time last year.
The portfolio of malls managed by ASX-listed Vicinity includes the country's largest, Chadstone in Melbourne's south-east, along with well-known CBD destinations such as Emporium Melbourne and the Queen Victoria Building in Sydney.
"We are seeing early signs of recovery, which combined with government stimulus measures, and the resilience and the speed with which the pandemic has been contained, have restored confidence among retailers to reopen and customers to return safely," Mr Kelley said.
"That said, the retail environment remains uncertain and we expect challenging conditions to persist for the remainder of this year."
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