Weekly Retail & Leisure News - 25 April, 2016
JLL's latest global retail report 'Destination
Retail 2016' examines the presence of 240 international retail brands
across 140 international cities, assessing the drivers, opportunities and
barriers to their expansion, and also ranks the attractiveness of cities.
London tops the rankings and has the highest presence of international
retailers compared to its global peers. London also edges out Hong Kong in
terms of luxury brand presence.
London continues to be a magnet for new brands thanks to its unique blend of
market size, maturity and high degree of transparency. The UK capital has a
long history of success, driven by a diverse base of locals and tourists, and
many retailers regard London as the entry point to Europe, including recent
entrants J.Crew, Arc'teryx, Club Monaco, Kit and Ace, and John Varvatos.
"Structural change is sweeping the retail industry as technology and
e-commerce platforms become more sophisticated; however, demand for the right
physical space, in the right location, is stronger than ever," said James Brown, Director of Global Retail Research for JLL.
"Borders are becoming less of an issue for retailers pursuing
opportunities overseas and we're seeing the global retail landscape shifting
fast to accommodate the change”.
In other positive news for the UK’s retail market, retail sales volumes rose
2.7% in March, compared to last year according to the ONS, the 35th consecutive
month of annual growth. Average store prices, including petrol stations, were
3.0% lower in March compared with a year earlier, indicating that UK inflation
will continue to remain low. However the amount spent in the retail industry
dropped marginally by 0.1% year-on-year, with growth in online sales continuing
to outstrip sales from physical outlets.
Register here for Destination Retail 2016, which examines
global retailers and their presence across the world's leading retail cities
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Director, Head of Retail Research (UK & EMEA)
+44 (0)20 3147 1155
Director, Head of UK Retail & Leisure
+44 (0)20 7318 7838
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