For the second consecutive year, Germany has been ranked the top retail market in the world, according to a recent report published by CBRE. About 40 percent of the retailers surveyed in How Active are Retailers Globally said they planned to open locations on the German market this year, followed by the UK with 33 percent and France with 31 percent.
Global retailers are attracted to large German cities with high purchasing power, according to CBRE. The UK also continues to be popular with overseas retailers as demand for store space remains resilient, especially in London, the survey results show, while France’s mature market offers several strong cities and a large number of very successful shopping centers.
“Given the ongoing challenges retailers face from cost escalation, successful delivery of omni-channel, and changes in consumer behavior, it is increasingly important for them to have a strong network of stores to effectively represent their brand. The cost to open a new store remains prohibitive and retailers now have to look beyond key areas to traditionally less premium sites,” said Peter Gold, head of cross-border retail at CBRE.
