Germany is the most sought after retail market in the world with 40% of global retailers planning to open a store there in 2014, according to the latest research from global property advisor CBRE.
Germany is the most sought after retail market in the world with 40% of global retailers planning to open a store there in 2014, according to the latest research from global property advisor CBRE.
Germany is by far the most attractive global retail market ahead of France, UK, Austria and China, with global retailers attracted by the opportunity to target 20 large cities in one market.
More than 40% of retailers globally plan to open a store in Germany in 2014 and this figure increases to 70% when taking into account only European retailers. Germany is also the second most important target for American retailers, with almost half (47%) mode aiming to open 40 stores or more this year.
The US is the largest retail market in the region and unsurprisingly the most important target market for retailers based in the Americas - almost half (43%) are aiming to expand there in 2014. However, due to the maturity and competition of domestic markets, many North American retailers are seeking to grow their global businesses, providing the opportunity to expand on a large scale. US retailers are targeting European markets in particular with 19% looking to open stores in Germany this year and 14% in the UK, Canada, France and Austria.
'An upturn in consumer confidence and renewed vigour in the global retailer community has put large scale expansion firmly back on the agenda,' said Peter Gold, head of Cross-Border Retail, CBRE. 'While the pace of international growth has slowed in recent years, retailers are making clear their intention to materially invest in their store networks throughout 2014.'
