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A Global Retail Invasion
Unrest or not, the Middle East, global retailers forge on with regional expansion, hoping there won’t be any long-term impact on people’s desires to buy international.
April 17, 2011 1:05 by Precious de Leon
The commercial real estate service firm released its 2011 edition of ‘How Global is the Business of Retail?’ recently, found that 40 percent of the global brands they surveyed had new openings occurring outside the retailer’s home region—despite the costs of international expansion and the roller coaster that is global consumer confidence.
In a very ‘duh’ moment, the study says retailers are finding it difficult to find prime space because consumer spending has “subdued in many markets” and because there are “fewer new shopping centres”. Like we said: duh.
Now for the interesting parts: which country has the most international brands?
Well, for the fourth year running, the UK maintained its place on top as the world’s most international retail market, attracting 58 percent of international retail brands. The UAE follows closely with 54 percent of the global brands surveyed having a station in the country.
Third place goes to the US with 50 percent—although Kipp wonders if this is because US brands take up a good chunk of the global brands surveyed, which would be considered a local brand for the US.
Pacing new store openings
India tops the rankings for new store openings with the largest number (eight) of new retailers entering the market in the past year. Turkey is at second place with seven, and the UAE, Kuwait, Ireland, Romania and Belgium all attracting six new retailers. The GCC, in particular, continues to be a major target for international retailers.