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he world is, according to Cushman & Wakefield, “becoming a borderless global marketplace”. But, one result of the world becoming more open, is that in tough economic times, many


countries suffer together. Global markets are split into two general


categories: mature markets, such as Europe and North America, and emerging markets, including China, India and Brazil. And in all markets, year-over-year GDP growth has slowed. Perhaps because they are coming from a lower base, the emerging markets have not suffered as much as their mature counterparts. Matthew Winn, C&W’s Americas retail


services leader, says: “What we have seen in the past year as the mature


economies have struggled to regain their footing is that retailers have had to look elsewhere for new customers. Retailers are asking us, ‘where is money young?’” From a UK perspective, Patrick


Keenan, director at Lunson Mitchenall, says globalisation of the retail sector has made it a necessity for home-grown retailers to move their focus overseas. “Expansion abroad has become


essential for staying ahead of the game and maintaining market share. The success of Topshop’s US roll-out, alongside the growing international presence of brands like Marks & Spencer, SuperGroup and River Island, is testament to this. UK-based leisure operators are also looking to tap into these markets, as demonstrated by Pret a Manger’s success when it opened in Paris, Hong Kong, Chicago and New York.


Summer 2013 www.estatesgazette.com


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