NEW DELHI: Thanks to the nineteen global retailers who made their foray into the national capital's prime shopping locations in 2014, the city has retained its 8th rank among the Asia Pacific's top retail hotspots, according to a report.
Global property consultant CBRE's latest report “Retail Hotspots in Asia Pacific 2014,” on established as well as emerging retail markets in the region saw 464 new retail entrants in 2014, 23 per cent rise compared to 2013.
In 2014, Tokyo attracted the most number of new retail entrants (63), followed by Singapore (58), Taipei (49), Hong Kong (45) and Beijing (34), a PTI report, quoting CBRE’s finding, said.
"Prime shopping districts of New Delhi attracted 19 global retailers in 2014 compared to 16 entrants in 2013. New Delhi held on to its eighth position among the APAC region's top target markets, along with Kuala Lumpur and Bangkok," the research report said.
With 11 entries from global retailers, Mumbai maintained its 14th spot in the region, along with Brisbane (Australia).
Overall, the spotlight continued to remain on emerging locations of India, China and Southeast Asia, the report added.
CBRE South Asia Chairman and Managing Director Anshuman Magazine said: "We are expecting a growth in retail sales across the region in 2015, albeit with a more cautious approach from retailers."
Retailers would be more strategic in store network planning and focusing on proven retail environments, he added.
"In terms of retail segments, we expect food and beverage (F&B) to remain the most active. Consumers in the region thrive on new concepts, with landlords keen on creating shopping destinations by offering more dining options," Magazine said.
The luxury and business retail segment saw the greatest share of new entrants at 22.6 per cent, the report said, adding, coffee and restaurants segment's growth however, climbed steeply to 22.4 per cent in 2014, compared to just 14.8 per cent in 2013.
"Retailers from the US made the most new entries into Asia Pacific with 24 per cent, followed jointly by retailers from Italy and the UK with 11 per cent each, to be followed by French retailers at 10.5 per cent," the CBRE report further added.