Riga’s Domina Shopping Center is reporting a +5.4% increase in turnover last year, reaching nearly EUR 90 million euros.
Owned by SIA EfTEN Dominas, the Domina Shopping Center is one of the largest in Latvia, with over 175 retail outlets. It is home to the largest entertainment center in the Baltics, Apollo Skypark.
According to a SIA EfTEN Dominas press release, “turnover growth was also achieved in key retail categories such as clothing, services, technology, beauty and restaurants, [while] visitor flow and the number of transactions … remained at the same level as in 2023.” According to the press release, “in the context of increasing competition and economic stagnation, these results are considered positive, as they indicate stable consumer interest in the shopping center and its offerings.”
SIA EfTEN Dominas reports that the clothing segment — the largest category at Domina — saw a turnover increase of +10.5%, the restaurant and cafe segment grew by +10.7%, the cosmetics and perfumery segment increased by +9.2%, fGifts, books, flowers, and souvenirs saw a turnover growth of +7.3%, the home-goods and interior segment grew by +4%, and the pharmacy and optics segment increased by +5%.
“However,” SIA EfTEN Dominas reports, “the most rapid growth—averaging around a quarter—was seen in the shopping center’s service segment (+24.7%) and electronics and IT products segment (+25.5%). This confirms that Domina Shopping, following global shopping centre trends, is transforming into an increasingly multifunctional space where people can conveniently access and purchase all necessary services and products in one place. The number of users of its loyalty app, “DO Shopping,” increased by +27.3%, while gift card purchases grew by +14.9%.
“Our results from the past year confirm that the strategic focus on developing various retail and service segments has been correct and has borne positive growth,” commented Dina Bunce, Managing Director of s/c Domina Shopping. “We achieved particularly high indicators in the clothing and service segments, which reflects growing consumer demand and the shopping center’s adaptability to market trends. It is important to emphasize that for the second year in a row, our retail and office spaces have been almost 100% leased, which we are very proud of. In 2025, we will continue to develop by opening a series of new stores and services to maintain this positive momentum and further enhance our customers’ shopping experience.”