Globalisation, technology and demographic change have impacted the business of retail vibrantly. Retailers are trying to expand their brand market share beyond their domestic region. Through continuous development and renovation of shopping centres has created an ideal environment for the retailers who wish to expand their brand visibility around the world.
The latest report by global property advisor CBRE, 'How Global is the Business of Retail?' reports that US retailers were most active in 2014 with 26 per cent share when analysing the percentage of retailers expanding from an individual country. Other countries that followed US were Italy with 14 per cent, UK with 11 per cent, France with 10 per cent and Spain 6 per cent.
Top target markets for new entrants
While considering the overall sector wise expansion, mid-range fashion retailers were most active globally. Tokyo, topped target market in 2014 for new retailer expansion in the world drawing 63 new retails brands. Singapore comes second with 58 new retail brands while Taipei is fourth. Other top fifteen markets are Hong Kong with 45 new entrants, Beijing with 34 and Manila with 24. Whereas, London has maintained its position of being world's most preferred shopping destination with the existence of 57.9 per cent of international retailers there. Dubai and Shanghai are closely following with 55.7 per cent and 53.4 per cent respectively.
The desire for expansion into new cities by international brands is rising. According to Manish Kashyap, Regional Managing Director, Head of Brokerage Services, CBRE Asia Pacific, said, 'retailer globalisation continued in 2014 as retail brands targeted a wide range of locations across the world. Not surprisingly, Asia features heavily on the list of target cities of new retailer entrants with six out of the 15 cities from the region. The luxury and business fashion sector in particular contributed more than a significant portion of the new retail entrants to the region; however, this was mostly second-tier brands as mainstream brands are already well-established...
The latest report by global property advisor CBRE, 'How Global is the Business of Retail?' reports that US retailers were most active in 2014 with 26 per cent share when analysing the percentage of retailers expanding from an individual country. Other countries that followed US were Italy with 14 per cent, UK with 11 per cent, France with 10 per cent and Spain 6 per cent.
Top target markets for new entrants
While considering the overall sector wise expansion, mid-range fashion retailers were most active globally. Tokyo, topped target market in 2014 for new retailer expansion in the world drawing 63 new retails brands. Singapore comes second with 58 new retail brands while Taipei is fourth. Other top fifteen markets are Hong Kong with 45 new entrants, Beijing with 34 and Manila with 24. Whereas, London has maintained its position of being world's most preferred shopping destination with the existence of 57.9 per cent of international retailers there. Dubai and Shanghai are closely following with 55.7 per cent and 53.4 per cent respectively.
The desire for expansion into new cities by international brands is rising. According to Manish Kashyap, Regional Managing Director, Head of Brokerage Services, CBRE Asia Pacific, said, 'retailer globalisation continued in 2014 as retail brands targeted a wide range of locations across the world. Not surprisingly, Asia features heavily on the list of target cities of new retailer entrants with six out of the 15 cities from the region. The luxury and business fashion sector in particular contributed more than a significant portion of the new retail entrants to the region; however, this was mostly second-tier brands as mainstream brands are already well-established...