The average vacancy rate at the key retail corridors of St. Petersburg kept sinking.

The activity of domestic tourists during the summer season contributed to stable development of the street retail market in the past three months and, as a result, to a growing number of catering establishments, as well as souvenir and branded product stores.

The tendency towards the opening of off-price catering outlets still holds sway. Meanwhile, many of the chain players are ramping up their presence on Nevskiy Avenue. Bubble tea bars with Asian drinks are also gaining ground.

The number of stores with confectionery products on offer also keeps growing. These crop up both as independent tenants and as chain coffee-shop outlets.