Having undergone the largest renovation in its history, Viru Keskus also demonstrated a record turnover in December, proving that traditional retail is still far from losing its positions. While the Christmas period is always favorable for retail, Viru Keskus set a turnover record in December 2023, marking its twenty-year history. Behind these strong numbers are both recovered foot traffic and an increased size of average check

CEO of Viru Keskus, Gertti Kogermann: “We are pleased to note that despite a very challenging year, during which the first 5 months saw 15% of Viru Keskus closed for reconstruction, and in the second half of the year, all roads around the center were dug up, we still managed to achieve very decent business results. This clearly shows that our visitors have positively appreciated our joint efforts with tenants to create a modern shopping environment in the very center of our capital.”

The growth in Viru Keskus’ turnover is attributed not only to traditional retail but also to new departments and service complexes provided by it. Visitors have responded very positively to both the new food hall of the center and the renovated fourth floor of Viru Keskus, offering the widest range of beauty and health services. Among all center tenants, Ilusfäär has made the most significant leap in sales, which grew by a third compared to the pre-crisis period.

“We are excited to note that the new sections of the shopping center have been successfully launched. For example, Viru Toidutänav food hall has shown steady month-to-month growth, reaching almost 1.9 million visitors over the past year. However, even more important is that the level of sales for key tenants at Viru Keskus, with whom we invested in the center’s renovation, have steadily increased,” added Kogermann.

Rain Siemer, the store director of Rahva Raamat, which has been awarded the title of the best bookstore in the world, remarked: “2023 was a record year for our store in Viru Keskus. We see that our consumer appreciates a quality shopping space and values an excellent offering both among books and popular gifts in general.”

Indrek Peterson, the head of Goldtime, which opened its renovated flagship store in late 2023 at Viru Keskus, added that consumer awareness and understanding of quality have also increased. For example, there has been a growing interest among Estonians for Swiss watches. “This indicates, on the one hand, a smart approach to investing one’s funds, as a well-chosen watch brand has a secondary market. On the other hand, such a trend reflects the growing expectations of Estonian consumers regarding quality,” said Peterson.