Heimar has a specialised team in the field of retail operations and services that has significant experience in property development, leasing and property operations, as well as the operation of shops and restaurants. The team’s knowledge and close collaboration with the company’s customers is important to better understand developments in the retail sector and thus support customers in meeting rapid changes in consumption. 

Retail operations have been very successful in recent years, and there has been an interest among strong operators to expand or increase the number of stores in good locations. The significant increase in tourists during the year strengthened retail operations and services at Hafnartorg and in the city centre, where the company has recently invested in a portfolio. The rental ratio in Smáralind is 99%, and there is strong demand for spaces. In 2023, there was a record turnover for operators in Smáralind, and it increased by 3% year-on-year. 

The interaction between traditional stores and online stores is becoming clearer and stronger. Some consumers prefer to view and try on products in stores and receive advice from sales staff but still choose to finalise their purchases online. Others prepare for the purchase by gathering information and comparing prices online but prefer to complete the purchase in a store. Increased choice for consumers, improved service and experience in modern stores and competitive product selection and prices are key factors to ensure continued growth in domestic retail.