● Shopping centers continue to face challenges from a dynamic market and evolving customer expectations.

● They are increasingly focused on enhancing the shopping experience and leveraging staff expertise.

● No longer mere retail spaces, shopping centers have embraced and expanded their roles in the service and entertainment sectors.

How would you summarize 2024 for the shopping center market in Poland?

Anna Malcharek, Managing Director of Gemini Holding: Shopping centers continue to face challenges not only from the dynamic market but also due to shifting customer expectations, which vary across different generations in today’s consumer landscape. Despite these challenges, 2024 has been a successful year.

It’s worth noting that shopping centers still hold the leading role in Poland’s retail segment and play a central part in the multichannel consumer journey. According to data from the Polish Council of Shopping Centers (PRCH), they outperform online channels by a factor of four in terms of value.

Retail spaces, including those managed by Gemini Holding, are continuously adapting to meet consumer needs.

Gemini Park centers in Bielsko-Biała, Tychy, and Tarnów remain stable attractions for both customers and tenants. This is evidenced by 16 new lease agreements signed this year and 52 lease extensions, covering a total area of over 15,000 square meters.

What challenges do Gemini Park shopping centers face today?

Shopping centers must increasingly focus on the shopping experience and staff expertise to address changing consumer habits. They have evolved from being solely retail spaces to becoming hubs for services and entertainment.

New generations of consumers value time efficiency, making the ability to meet multiple needs under one roof crucial. Customers also care deeply about eco-friendly practices adopted by shopping center managers, the overall atmosphere, accessibility, and alignment with meaningful local initiatives.

To stay ahead of future challenges, shopping centers must continue evolving into destinations where people come not only to shop but also to enjoy unique experiences and diverse, modern offerings beyond retail.

New interiors, technologies, stores… How are Gemini Parks evolving?

Gemini Park centers are continuously adapting to the changing needs of modern consumers through in-depth analysis. Customer comfort within the shopping environment remains paramount. At the same time, we are committed to sustainable development and ESG initiatives when implementing solutions to enhance the shopping experience.

Recent changes at Gemini Holding centers have not only focused on modernizing interiors and aligning with new trends but also on integrating innovative solutions.

Which brands does Gemini Holding prioritize?

We aim to attract brands that meet current customer expectations and align with modern trends. New additions to our tenant mix generate significant interest, as customers appreciate changes that cater to their needs and broaden the range of diverse products and services.

The most popular categories include fashion, electronics, and dining establishments that prioritize comfort, a pleasant atmosphere, and unique experiences.

Recent additions include fashion concepts such as Terranova in Tarnów and Office Shoes in Tychy, jewelry stores like Pandora in Tarnów, expanded beauty offerings with Salon Vessuna in Tarnów, and lingerie brands such as Aren and Esotiq in Bielsko-Biała.

Shopping centers are increasingly transitioning to “mixed-use” models, requiring flexible space utilization. Key service offerings like beauty salons, laundries, banks, and customer service hubs maintain strong positions, alongside firmly established entertainment options.

What changes are planned for 2025?

We continue to grow across multiple areas, particularly in leasing and technology. Modernizations and innovations are being implemented to meet ESG challenges, optimizing all aspects in line with the essential trend of environmental responsibility.

In 2025, Gemini Holding will continue modernizing its centers, introducing new technologies, enhancing the shopping and customer service experience, and expanding offerings to meet the needs of modern consumers. Additionally, we plan to pursue initiatives focused on intelligent, educational entertainment. Customer comfort and satisfaction remain top priorities.

What new openings can we expect in the coming months?

While Gemini Holding does not plan to open new centers, several exciting launches are planned for our existing three locations. Though we cannot reveal all the details just yet, these will include exciting debuts in shopping, services, and entertainment.

Recent highlights include the opening of a fourfold-expanded Ochnik store in its latest concept at Gemini Park Bielsko-Biała in early December, an expanded home&you store in Gemini Park Tarnów in late November, and the debut of Anex Tour travel agency in Tychy. In the new year, customers can look forward to more surprises, including the launch of Rituals Cosmetics in Tarnów. Details regarding locations and opening dates will be announced soon.