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Challenges and Opportunities in Venezuelan Shopping Centers: Insights from the Executive Director

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Challenges and Opportunities in Venezuelan Shopping Centers: Insights from the Executive Director

Venezuelan Chamber of Shopping Centers Reports a Decline in Sales Despite Visitor Increase

The executive director of the Venezuelan Chamber of Shopping Centers, Claudia Itriago, has revealed that a significant number of commercial premises in the country are currently shut down. Approximately 12 to 15% of shops have been closed due to various reasons such as category modifications, remodeling, or negotiation issues. Despite expectations of higher sales this year, the results for January and February have been disappointing, with April showing a significant decrease in sales.

In an interview on El Noticiero Televen, Itriago emphasized that despite the economic challenges in Venezuela, it is a prime time for investing in shopping centers due to attractive local offers. International chains are also showing interest in reopening their businesses in the country, which could potentially attract more global brands as well.

Competition between chains is seen as a positive factor by Itriago, as it leads to a wider range of products available to consumers. He also stressed the importance of effective marketing strategies within shopping centers to attract customers and increase sales. While promoting the shopping center as a whole is important, individual stores also have a responsibility to create strategies that encourage consumer spending.

Overall, despite the current challenges faced by the retail sector in Venezuela, there is optimism regarding the potential for growth and increased consumer activity in shopping centers.

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