Retail in Slovakia is undergoing changes. The current consolidation, combined with inflation levels, has shifted the priorities of many Slovaks. In light of the economic situation, consumers have become more cautious. Nevertheless, various ambitions for further expansion of new retail spaces are emerging on the market.
How Did Consumer Sentiment Shift in Q1 2025? How Did Sales Perform and How Much New Retail Space Was Delivered? These questions are answered in the latest report “Slovak Retail Figures Q1 2025.”
Retail sales in Slovakia declined in March compared to the same period last year, with most product categories experiencing a downturn. After adjusting for inflation, this marks the second consecutive month of falling real sales. The main contributor to this result was reduced sales in hypermarkets, supermarkets, and household goods stores.
During the first three months of the year, tenant sales in the monitored sample of shopping centers rose by only 1%, while foot traffic increased by 3% during the same period.
Inflation reached 4% in March, the highest level in the past 15 months. However, the pace of price growth was the slowest this year, mainly due to lower transport and food prices.
Year-on-year price growth was mainly driven by non-alcoholic beverages, selected food items, food services, alcoholic beverages, tobacco, and personal care products.
Sectors with a smaller share of household spending had a stronger impact on inflation, especially restaurants and hotels, where prices increased by 8.7%, mostly due to higher meal prices.
The first quarter was also marked by the completion of new retail projects—specifically, OC Spektrum Nové Zámky with a total leasable area of 4,200 m² and OC Spektrum Lučenec with 5,500 m².
"Currently, nearly 90,000 square meters of retail space are under construction across 16 projects. Most of them are retail parks, and more than half of the new retail space is being developed in central Slovakia. Key locations include Žilina, Námestovo, Tvrdošín, Revúca, Poltár, Žiar nad Hronom, and Rimavská Sobota."
There were no year-on-year changes in rental prices—while prime shopping centers continue to achieve top rents of €70 to €90 per square meter per month, rents in retail parks remain at €15 to €17.
