The globalisation of the retail sector continues, with retailers expanding into a wide range of markets in 2012 - 81% of the cities saw at least one new retailer enter the market.
Europe was the most targeted region at country level, attracting 49% of new entries, followed by Asia with 24%, and the Middle East and North Africa (MENA) with 11%. Latin America (LATAM), North America, and the Pacific region attracted 9%, 7% and less than 1% respectively.
Hong Kong was by far the most sought after city last year with 51 new entries, attracting retailers from all sectors – not just Luxury & Business Fashion. An emerging middle class population and the large number of Chinese tourists are a major attraction for incoming retailers which also use the city as a launch pad for entering the wider region. New entrants were principally from UK and France, but also from the U.S., Japan and South Korea.
Mature markets dominated retailers’ expansion plans last year although six emerging markets made the top 20: Kiev was in second place with 39 new entrants, with São Paulo (25 new entrants), Iasi (19), Muscat (17), Ho Chi Minh City (15) and New Delhi (14) also important targets for retailers.
Source : CBRE