Retail Market Report Austria | 2022/23

Data and facts on the retail market in Graz

Retail space city

167,600 sqm

Retail space per capita

0.58 sqm 184 sqm

Ø Shop size

Share of retail chain branches

37.0 %

Vacancy rate Turnover rate

4.1 %

12.4 %

Source: Standort + Markt 2021/22

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The Retail Market in Graz

Graz is the fastest growing major city in Austria: In the years up to 2030, the population is projected to increase by more than 10% from 291,000 to 325,000 – a trend that will also create structurally attractive perspectives for the retail trade and the market for retail space. This is even more impor- tant due to the status of the Styrian capital as a shopping location far beyond the local region. Its catchment area covers large parts of Styria and southern Burgenland. The Seiersberg shopping city with its 85,000 square metres of selling space plays a dominant role in shopping tourism from the surrounding area. Other market players include the shopping centres and

retail park clusters along the periphery, which consistently have a higher share of customers from outside the region than the highly diverse shopping landscape in the city centre.

"The catchment area of the retail location Graz includes a large part of Styria and southern Burgenland."

With 168,000 square metres of retail space, Graz is home to the largest inner city retail cluster in Austria after Vienna’s Inner City and Mariahilfer Strasse. More than 900 retail outlets give the city a top rank for this indicator. The prime loca- tions extend along the foot of the Schlossberg around the main plaza, Herrengasse and the well- known Kastner & Öhler department store in the Sackstrasse. The border to the south is formed by Jakomini Square (a secondary location), and the commercial area continues with Südtiroler Square and the Annenstrasse (a tertiary location) to the west of the Mur River. Despite the high quality and attractiveness of the retail offering in the city centre and very satisfac- tory frequency, there has been a steady downward trend in selling space in recent years. The decline equalled roughly 3.5% for the past two years and nearly 4% in the previous two-year period. This de- velopment is attributable to the reduction of space

Demography & the Graz economy

Graz is the second largest city in Austria with 291,000 residents and, with an increase of nearly 25% in the population since 2001, one of the fastest growing provincial capitals. Other important drivers for the retail market include the large catchment area which ranges from the southern part of northern Styria to southern Burgenland and into eastern and western Styria as well as shopping tourism from northern Slovenia and Croatia. The population is expect- ed to grow to roughly 325,000 by 2030, which would further consolidate and strengthen the city’s status as the most important shopping destination in the southern provinces.

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