The Irish retail market could be completely saturated by 2015 if pipeline developments proceed as planned.
It is thought that some successful centres could lose ground as a result.
CACI’s Retail Footprint Ireland 2008 report – which analysed spend in 381 retail destinations in the 12 months to August – reveals Dublin has topped the rankings, making it the most invested-in area in the country. However, it is estimated that expenditure could fall 19 per cent in the city by 2015 because of schemes planned for the Greater Dublin area.
Limerick town centre could suffer an expenditure fall of 20 per cent as a result of the Crescent Shopping Centre opening next year.
CACI principal consultant of location strategy Nielsen Harrap said: “Irish retail is at a crossroads. As the market reaches saturation point, there are bound to be winners and losers. There simply won’t be enough demand in the market to meet all this extra supply without some centres seeing a significant impact on their business.”
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