The management of Tbilisi Central reports a continuing downward trend in retail sales.
According to Levan Karalashvili, Director of the shopping center, retail turnover has dropped by approximately 20% amid the growing instability in the country. Speaking on BMGTV, he noted a clear shift in consumer behavior, with people spending significantly less.
“Given the broader negative environment, it’s no surprise that everything is being affected,” Karalashvili stated. “It’s been repeatedly mentioned that even Georgian consumer habits have changed. In times of uncertainty and unstable expectations, people naturally cut back on spending. We’re seeing about a 20% decline in retail trade compared to the same period last year. The second quarter has shown a slight improvement, largely due to seasonal factors.”
He also highlighted that despite entering the mid-season, there hasn’t been a noticeable uptick in tourist activity. “Key markets like Israel are effectively closed right now, which further dampens potential for growth. Under these conditions, retailers are focused on cost optimization, and import volumes have already been reduced.”
Karalashvili concluded by emphasizing the fragile balance businesses are currently trying to maintain: “We’re essentially trying to preserve the current status quo to avoid more drastic measures in response to falling sales.”
