What Will Replace Closed Stores in Moscow 0 10

Shopping centers are set for a significant transformation. More gyms, multifunctional centers, medical services, and offices will appear in place of the stores.

The cost of premises in Moscow shopping centers has decreased from 600,000 to 440,000 rubles per square meter since 2019, while the investment yield indicator (CAP Rate — the percentage return on investment per year) has increased, according to MalinaProperty.

The price drop is linked to a decline in foot traffic in shopping centers, explains independent retail expert Mikhail Lachugin. The rise in CAP Rate, in turn, indicates that investors view the market as more risky and are only willing to invest with higher returns.

Shopping centers will be transformed into showrooms and public spaces. In place of clothing, food, and electronics stores, there will be more fast food, entertainment industries, and multifunctional centers (a network of centers in Russia operating on the principle of a "one-stop shop," where citizens and legal entities can obtain state and municipal services, eliminating the need to visit different institutions). Boutiques will remain but will be more niche.

Stores in shopping centers will also be replaced by sports — gyms, yoga studios, gymnastics, stretching, dance studios, as well as offices, adds Alexey Blumkin, vice president of the Russian Association of Retail Market Experts.

In Moscow, a large-scale optimization of retail trade will continue in 2025–2026, affecting up to 16% of clothing and footwear stores in shopping centers, as well as the closure of several children's chains (Loloclo, Orby, Pelican). The main reasons are falling incomes, the rise of online shopping, and high expenses. At the same time, there is a substitution of departed international brands with Russian ones, note Logistics.ru and TopFranchise.

The reason for the changes is that shopping centers are losing their retail function: people are ordering goods from marketplaces instead of going to offline stores, and opting for delivery instead of supermarkets. This is cheaper and often more convenient.