Competition Increasing Among World’s Strongest Retail Destinations?

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Competition Increasing Among World’s Strongest Retail Destinations?

MAY 17, 2016 | BY NATALIE DOLCE | FROM GlobeSt.com

LAS VEGAS—“Competition is increasing between the world’s strongest retail destinations.” That is according to Dan Innes, managing director of Innesco.

Innes recently caught up with GlobeSt.com on trends he is seeing in the market in advance of the upcoming ICSC RECon conference, soon to be held in Las Vegas. “London, Moscow, Stockholm, Dubai, LA, New York, Shanghai and others are all competing for the world’s biggest, strongest brands and flagship stores.”

According to Innes, as more and more world-class retail destinations appear globally, markets are in greater competition to attract the biggest brands. “Relationships, reputation and understanding between landlords and retailers has never been more important.”

Established retail destinations such as London’s West End, he adds, are experiencing a flight to quality. “Brands are finding that the quality of location is just as important as the quality of the brand, and they are using famous streets like Regent Street and Bond Street to achieve this,” he tells GlobeSt.com.

And destination is the cornerstone to global brands, he explains. “Bricks and clicks are finally beginning to complement rather than compete. Stores are more tech geared that ever before as retailers create an immersive retail experience, and landlords embrace the potential technology brings.”

Keep checking back with GlobeSt.com in the next few weeks for many more thoughts and predictions from attendees at the upcoming RECon show.

 

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