By Inside Retail Asia
Retailers in Asia appear confident of a resurgence in sales next year as the impact of Covid-19 wanes – and many are eyeing an expansion of physical store networks, especially in China and India.
Real-estate company CBRE surveyed more than 150 retailers across multiple categories and found 65 per cent of them want to expand their physical store network, more than 90 per cent in China and India.
Ada Choi, CBRE’s head of occupier research & head of data intelligence and management, APAC, said this bodes well for landlords suggesting prime locations in city centre shopping malls and high streets will remain keenly sought-after, “as retailers pursue a flight to quality against the backdrop of stabilising rents and scarcity of available space in these locations”.
However, the research suggests that domestic demand will be behind the retail resurgence, perhaps questioning the potential impact on cities more dependent on tourist traffic.
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