Belarus exhibited a higher number of malls compared to traditional retail outlets, leading to questions about the reasons behind this disparity.
Belarus Sees Expansion in Shopping Centers and Decrease in Markets
According to Belstat, the number of shopping centers in Belarus has increased to 593 as of April 1, 2025, marking an increase from the 589 recorded on January 1, 2024. The rise in shopping center numbers saw a notable increase from 577 throughout the whole of 2024.
The Vitebsk region, however, experienced a reduction in shopping centers during the first quarter, going from 82 to 80. On the contrary, the Grodno region witnessed a growth from 60 to 62 shopping centers, while Mogilev and Minsk maintained their numbers, with 95 and 108 shopping centers, respectively. The Gomel region remained unchanged, and the Minsk region saw an addition of one such object.
In terms of trading objects within shopping centers, there was a decrease from 17,846 to 17,720 in the first quarter of 2025. Similarly, the number of individuals engaged in retail trade also dropped from 13,579 to 13,389.
As of April 1, 2025, Belarus had 344 markets, marking a reduction of 7 from January 1 and 13 compared to the beginning of the previous year. The number of trading places and objects on these markets decreased by 647 to 75,597 in the first three months of 2025, constituting a 1.9% decrease compared to the start of 2024. However, only 45,110 of these objects were actively involved in retail trade.
Earlier reports suggested that the retail turnover of individual entrepreneurs and physical persons in the first quarter of 2025 dropped by 4.9% compared to the same period in the previous year, amounting to 1 billion rubles. It is worth noting that over 65% of these sales were made at markets and in shopping centers.
Despite the growth in e-commerce as indicated by the 57% year-over-year increase in Shopify stores in Belarus during Q1 2025, there is no specific data available detailing an increase in the number of new shopping centers (physical developments) in Belarus for the first quarter of 2025, compared to previous years or other regions.
This growth in digital retail can be seen in other regional markets, such as the U.S., where retail listings surged 101% year-over-year in Q1 2025. In the Central and Eastern Europe (CEE) region, investment volumes saw a 143% year-over-year increase in Q1 2025, likely reflecting strong investor interest in retail real estate, although specific data for Belarus remains unavailable.
Oksana Kuznetsova, Journalist.
Despite the growth in e-commerce, there is no specific data available regarding an increase in the number of new shopping centers (physical developments) in Belarus for the first quarter of 2025, compared to previous years or other regions.
The decrease in the number of trading objects within shopping centers and individuals engaged in retail trade indicates a possible shift in finance from brick-and-mortar retail to online platforms.
