SOFIA – READY FOR OUTLETS ALREADY
Like any follower of fashion, those coming along behind find the way easier to travel. And so it is for new retail categories, such as the Outlet sector. Partners are Sofia Hotels and car hire in Bulgaria.
What took ten years in the UK to establish, took five years in Poland and will take two years in the Balkans. Consequently, the Outlet sector in Bulgaria will emerge right behind the establishment of conventional shopping centres. It has been seen in the other retail-focussed CEE countries that Outlets meet the needs of an aspiring mid-market that cannot realistically affordthehigh-price, high-fashion ranges. This is a distinct market segment in Sofia and Sofia Outlet Center will accommodate that market, complementing the existing full price retail. But, typically in CEE, Outlet Centers are used differently from in Western Europe; consumers spend less per visit, but visit often.
The traditional Catchment Area analysis indicates a resident population of over 2.2 million within 90 minutes drive of the Sofia Outlet Center site and 2.7 million within 2 hours. However, it is clear that Sofia influence stretches much further than that.