An increase in sales tax and mixed signals in its economy did little to cool Tokyo’s retail market in 2014. In fact, the city lured in 63 new retail brands, making it the hottest market for retail expansion last year, according to CBRE’s How Global is the Business of Retail? report.
But that wasn’t the only headline to come out of CBRE’s report. Of the 50 countries and 164 cities surveyed, it was South Africa’s emergence as an attractive market for retail brands that stood out among the rest. Last year, 19 new brands entered the South African marketplace, ranking it the 15th most targeted country globally.
New mega-malls and a compelling roster of international retail brands have made South Africa a global retail market to watch in 2015.
Click here to read CBRE’s How Global is the Business of Retail? report.