American retailers are the most global, while Paris is the hottest global retail market.
That’s the conclusion from real estate firm CBRE Group Inc. in its report “How Global Is the Business of Retail?”
The latest study tracked retailer movements in 2013, finding that more than half of retailers, at 51 percent, are now present in all three major global regions: the Americas; Europe, the Middle East and Africa, and Asia Pacific.
American retailers are the most global, with 80 percent in all three regions compared with 48 percent of European retailers and 25 percent of Asia-Pacific retailers. U.S. retailer expansion into Europe, the Middle East and Africa constitutes 40 percent of cross-border movements by American retailers.
Naveen Jaggi, senior managing director of retail services for CBRE, said, “The maturity and density of the American market is encouraging retailers to look outside their home borders in order to seek growth.”
Jaggi noted that London remains the top market for American retailers looking to move out of their home region.
While London remains the home of more international brands than any other city, Paris is currently the hottest global retail market, attracting 50 new brands last year. The city benefited from three new shopping centers last year, and its prime high-street locations attracted most global brands due in part to demand from Chinese tourists seeking luxury brands.
Jose Luis Martin, senior director of cross-border retail for Europe, Middle East and Africa at CBRE, noted that global shopping center development is providing opportunities for retailers to enter new markets. In addition, the “growth of the online environment has also elevated the importance of the brand — not just among luxury retailers, but across the retail spectrum, with consumers seeking out aspirational brands as well as high-street and value offerings, and this is driving demand for new stores.”