Home » Commercial » UK is No1 target for global retailers

UK is No1 target for global retailers

CBRE’s annual survey – now in its fourth year – mapped the global footprint of 323 of the world’s top retailers across 73 countries to identify trends in global retail expansion at national and local level.

The report found that although the global economy pulled out of recession in 2010, it remains a challenging time for retailers, with consumer spending subdued in many markets and fewer new shopping centres making it more difficult for retailers to access prime space.

The UK maintained the number one position in the top 20 most global retail markets, attracting 58% of all international retail brands surveyed, with consumer spending growth of approximately 1.5%.

The UK is closely followed by the United Arab Emirates (UAE) with 54% of all retailers surveyed, and the US with 50%.

Europe continues to dominate CBRE’s rankings of the most highly penetrated global retail markets, with the region’s largest five economies all featuring in the top 10: UK (1st), France (4th), Spain (5th), Germany, (6th), Russia (8th), and Italy (10th).

London retained its position as the most popular retail city in the world, attracting more than half (56%) of all international retail brands surveyed; however, it now shares the top position with Dubai.

The established markets of New York (44.3%), Paris (43.6%), and Hong Kong (40.6%) follow in the rankings and clearly still hold global pulling power. The composition of the rest of the top 20 comprises a mix of traditional and emerging markets providing an indication of how global the international retail business really is.

Peter Gold, Head of EMEA Cross Border Retail, CBRE, said: "The UK consistently attracts new international retailers due to the strength of the consumer sector and the high turnover levels that can be achieved.

"London is a particular target and this proved to be the case again in 2010, in spite of a difficult economic environment. The weakness of the pound against other countries helped to attract new retailers and more shoppers to the capital last year, with some 200 million shoppers visiting the West End."

Have your say on this story using the comment section below