New Delhi Ranked at Eighth Position in Asia Pacificâ€™s Retail Hotspots in 2014
Published By : 24 Mar 2015 | Published By : QYRESEARCH
Nineteen global retailers made their entry into the New Delhi market, which is recognized to be the national capital of prime shopping. This caused the city to retain its eighth rank among the different Asia Pacific retail hotspots.
The news by the property consultant CBRE Retail Hotspots situated in Asia Pacific 2014 said that a well established and emerging retail market in the overall region has witnessed around 464 new retail emerging players in 2014. This growth rate was upped by 23 percent in 2014 as compared to 2014.
The CBRE Retail Hotspots situated in Asia Pacific 2014 has its job to record the international retailer activity involved in the APAC region. The year 2014 also witnessed Singapore attract around 58 retail entrants, Tokyo attract 63 new entrants, the most number among others, lastly followed by Hong Kong with 45, Taipei with 49, and Beijing with 34.
In 2014, the main shopping hubs of New Delhi attracted around 19 global retailers over 16 new entrants in 2013. Today, New Delhi is ranked as the eighth leading market in the APAC region in addition to the Kuala Lumpur and Bangkok markets. The market holds the leading position among the varied regions dealing in the retail market, says the report.
There were 11 entries from global retailers along with Mumbai in its 14th position and Australia (Brisbane) as well. However, the overall spotlight was continued on the emerging locations of China, India, and Southeast Asia, said the report.
The managing director and CBRE South Asia chairman said to a leading magazine that the growth in the retail sector is expected to increase by 2015 even though the approach is quite cautious from retailers. He added that in the next one year the retailers would grow more strategic in store network planning and focusing of retail environments.
In terms of retail segment growth, the F&B segments are expected to witness maximum growth. Consumers in this region thrive on the new innovations, concepts, technology offering more dining options, said the magazine.
Nevertheless, the business and luxury retail segment witnessed the highest share of new entrants at 22.6 percent. The coffee and restaurants segment is expected to grow to 2.4 percent in 2014 as compared to 14.8 percent in 2013.