Retailers name Germany as European hot spot for 2010
20 Nov 2009
Germany has emerged as the number one target destination for retailers looking to expand their international presence in Europe, the Middle East and Africa (EMEA) region in 2010, according to new research from CB Richard Ellis.
The report - How Active are Retailers in EMEA? - reveals that 47 per cent of retailers surveyed as part of the research are targeting Germany for future expansion, followed by France, with 44 per cent, and Spain with 36 per cent.
CBRE's latest research report examines the current attitudes and 2010 expansion plans of 220 leading retailers, based on interviews conducted over the summer of 2009.
Despite the uncertain economic outlook, many retailers are optimistic about the next few years and are strategically expanding into new markets. Whilst research has shown a broad shift towards the more mature western European markets and prime locations, some retailers are taking the opposite approach and are targeting new and previously untried markets in their search for competitive advantage.
A total of 56 countries were identified as expansion targets by the 200 retailers who are actively looking to acquire stores by the end of 2010. Western European countries dominated the survey's ranking of the top 10 'hot spots' for expansion, comprising seven of the 10 most popular destinations. Poland, Romania and Russia were the exception to the rule, representing Central and Eastern Europe in the top 10.
More than 45 per cent of retailers are planning to expand into at least one country within Central and Eastern Europe in 2010, with Poland alone attracting 34 per cent of the retailers surveyed.
