The shift towards leisure-oriented spending is increasingly reflected in Romania’s retail real estate market, particularly within shopping centres. Cinema revenues reached a record level of approximately 63 million euro in 2025, up 16% compared to 2024 (in US dollar terms) and around 10% above the pre-pandemic average, while consumers, affected by economic pressures, are cutting back on spending on goods, according to data analysed by Colliers. This trend confirms a change in consumer behaviour, as in more challenging economic periods people tend to reduce major expenditures and shift towards more affordable leisure experiences.

Although the current context is not comparable to previous recessionary periods, recent economic developments – marked by cost pressures and declining purchasing power – have been sufficient to influence consumer behaviour. 2025 brought the first material signs of a slowdown in the labour market after nearly a decade of positive momentum: the number of employees declined slightly, by just over 1% between March and year-end, while wage growth failed to keep pace with rising prices as of the middle of the year, impacting purchasing power.

”In more difficult times, people cut back on spending for products such as clothing or jewellery, save more, and look for more affordable leisure options. This is not a phenomenon specific to Romania, but one observed in other markets during similar periods of economic uncertainty. However, the local economy shows signs of resilience and, despite isolated challenges, the labour market remains relatively stable, mitigating the impact on consumption that could otherwise lead to a comparable recession”, explains Silviu Pop, Director Romania Research at Colliers.

Cinema remains one of the most accessible forms of escapism. However, this segment has not been immune to price increases: cinema tickets are, on average, more than 60% higher than before the pandemic, which has supported part of the industry’s revenue growth, alongside strong consumer interest in such accessible leisure activities.

Similarly, restaurants and bars are experiencing slight declines in revenues even amid rising prices. According to data from the National Institute of Statistics, while activity volume (the volume of products sold) in this sector fell by more than 10% last year, turnover declined only slightly, by around 2%, indicating that people are dining out less frequently, while operators have offset this through price increases. Over the longer term, this model – based on higher prices and lower consumption – may prove difficult to sustain, particularly in an uncertain economic environment.

”For shopping centre owners, these behavioural shifts translate into the need to adapt tenant mixes, including a stronger focus on affordable leisure offerings. The entertainment and leisure component – cinemas, restaurants, and other experiential formats – return to the top of the anchors for attracting and maintaining footfall, in a context where traditional retail is more volatile and sensitive to economic fluctuations”, concludes Liana Dumitru, Director Retail Agency at Colliers Romania.