As per the latest report from CBRE Group Inc. – ‘How Global is the Business of Retail?’ – Tokyo is the world’s best market for retail expansion. It attracted around 63 new brands last year as leasing momentum in core areas, despite mixed signals in the economy and an increase in the sales tax to 8 per cent in April last year.
The report also revealed that the US retailers are the most active when it comes to expanding into new global markets. In 2014, the US retailers accounted for 26 per cent of cross-border expansion. Primary expansion targets for America’s retailers are Asia (41 per cent), Europe (33 per cent), and the Middle East and Africa (12 per cent).
