By: Cebu Daily News
With relaxed restrictions and the holidays drawing near, malls and other retail establishments here should brace for consumer spending to return to its pre-pandemic levels.
Real estate service provider Colliers reported that malls in the country began experiencing a rebound in the number of consumers visiting and spending in brick-and-mortar shops and in other retail segments.
“We now see the resurgence of high-density retail segments such as family entertainment centers, and this should result in greater traffic in Cebu malls,” said Joey Roi Bondoc, associate director and head of Research for Colliers.
The upcoming holidays would also help boost the retail sector’s path to recovery following the COVID-induced economic crisis, Colliers added.
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