Hong Kong is the world’s hottest retail market, attracting significantly more new entrants than any other city, according to CBRE.
Hong Kong is the world’s hottest retail market, attracting significantly more new entrants than any other city, according to CBRE.
The 2013 edition of the property adviser's 'How Global is the Business of Retail?' report maps the global footprint of 320 of the world’s top retailers across more than 200 cities, tracking cross-border retailer movements.
The report found that retailers expanded into a wide range of markets in 2012, with 81% of cities seeing at least one new retailer enter the market.
US retailers are by far the most aggressive when expanding store networks globally. Traditionally US retailers have focused on Asian and Western European markets; however, they are increasingly targeting the Middle East (18% of all new entrants to the region were from the US last year), Central & Eastern Europe (17%), and Latin America (10%). Italian, British and French retailers are also highly active, focusing mainly on their own region, although Asia is also a key target.
Hong Kong was by far the most sought-after city with 51 new retailer entries from all sectors - not just the high-end fashion brands that have traditionally targeted the market. These new entrants are principally from Europe, but also from the US, Japan and Korea.
The full report is attached below (PDF)
