In the CNCC-EY review, nel 2025 Italian shopping centers posted annual sales and footfall essentially in line with 2024. The analysis is built on the Osservatorio CNCC panel of 300 structures covering roughly 10, 000 points of sale nationwide and is enriched by an EY-CNCC thematic survey of retailers. Despite consumer caution, centers retained a dual role as places of purchase and as aggregation and experience hubs.
Nel 2025: headline results and sector breakdown
The consolidated picture from the Osservatorio CNCC-EY shows broad stability: overall annual sales for shopping centers were nearly unchanged versus the prior year, and overall visits in 2025 tracked 2024 levels. In the detailed breakdown, nel the ristorazione (food service) channel closed 2025 with a -0. 3% change in sales, while other categories showed mixed performance.
Key sector movements recorded by the observatory include a rise in “Cura persona e salute” of +3. 2% and an increase in “Attività di servizi” of +1. 4%. Discretionary segments registered modest declines: “Elettronica di consumo” down -1. 7%, “Beni per la casa” down -1. 3%, “Cultura, tempo libero e regali” -0. 9% and “Abbigliamento” -0. 7%. Overall, the dataset indicates sales broadly in line with 2024, with the food service area showing a small year-over-year contraction.
Immediate reactions from industry leaders
Roberto Zoia, president of CNCC, framed the results as evidence of resilience: “The stability of sales and entries demonstrates that physical retail has reacted with determination, investing in the quality of the experience, relationships with visitors and a more advanced use of data to understand needs and behaviors. “
Marco Daviddi, managing partner EY-Partheon Italia, highlighted structural change in centers: “The dynamism of services and personal care indicates that consumers assign growing value to shopping centers beyond immediate purchase, thanks to the ability to integrate different needs into a single visit experience. “
Quick context
The findings come from the ongoing CNCC-EY partnership and the Osservatorio CNCC, which relies on a stable, representative panel of 300 shopping center structures and about 10, 000 points of sale across Italy. EY-CNCC’s second thematic survey added retailer sentiment across categories including Personal Care and Health, Culture, Leisure and Gifts.
What’s next
Looking ahead, retailer sentiment embedded in the survey points to cautious optimism: nearly half of non-food operators expect moderate growth, and most do not plan to expand selling space in the short term. Landlords are focusing on tenant priorities—accessibility, health services, food courts, play areas and stronger digital communication remain central to maintaining attractiveness. Market watchers will follow how these operational shifts translate into performance in 2026 as centers continue to pivot from pure retail to combined service and experience formats; nel the coming months attention will center on execution of those tenant and visitor-focused strategies.
