The prime shopping locations of New Delhi have fetched the Indian capital the eighth rank among Asia-Pacific’s Retail Hotspots in a survey conducted by global property consultant CBRE.
The survey is conducted to tap international retailer activity occurring in the APAC region. With 63 entrants, Tokyo was the top destination, followed by Singapore (58), Taipei (49), Hong Kong (45) and Beijing (34).
According to the report, prime shopping districts of New Delhi attracted 19 global retailers in 2014 over 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,” it said. The spotlight continued to remain on emerging locations of India, China and Southeast Asia, the report said.
As New Delhi, Mumbai too retained its fourteenth rank with 11 entries from global retailers, along with Brisbane (Australia).
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. They would be strategic in store network planning and focusing on proven retail environments.”
Focusing on the food and beverage sector as a driver of retail activity, Magazine said, “We expect food and beverage (F&B) to remain the most active, in terms of retail segments. Consumers in the region thrive on new concepts, with landlords keen on creating shopping destinations by offering more dining options.”
The report also saw retailers from the US making 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, and French retailers at 10.5 per cent.