Page 52 - RLI December 2019 - January 2020

SPECIAL FEATURE: US RETAILING

Reasserting its Still home to the second highest retail rent in the world along with some of

the most unique brands and concepts in the world, the US retail market is
Dominance still performing as the global superpower that it is. In the coming pages, RLI
presents a detailed overview of the state of the market and highlights key

retailers, new to market entries and emerging trends in the country.

GAbRIELA HEARST
New York, US

highly developed country, the US is the world’s According the ‘United States Global Retail Cities Guide’
largest economy by nominal GDP, the second- by Cushman & Wakefield, the US is home to world’s best
largest by purchasing power parity and accounts for known brands such as Nike, GAP, Abercrombie & Fitch and
A approximately a quarter of global GDP. It is also the Apple, that started in malls and high streets in the country.
world’s largest importer and the second-largest exporter of goods. Despite still being known best for the burger, it continues
Long known as the cultural melting pot, the US remains to produce great restaurants whose diversity of cuisines
at the forefront of retail market trends. US retailers and matches the country’s multi-cultural population.
shopping centre owners are now global companies setting “More global brands are making the transition to the
the standards for consumer business worldwide. The high States based on retail stagnation elsewhere and due to the
streets of New York, Chicago, San Francisco and Los Angeles voracious consumer in the USA. Now, as is to be expected,
are more than ever, shopping destinations international Asian brands in both food and retail are making the trek
visitors as well as local residents. over to plant their flags as European companies have been
With access to unique and diverse range of property for decades,” explains Mike Reilly, Managing Principal at SRS
types in retail; for example luxury high streets like the SIGNATURE National Group.
aforementioned Fifth Avenue in New York City and Rodeo With annual retail sales greater than $6tn, the
Drive in Los Angeles to enclosed shopping malls and open air opportunities of the US market will continue to produce
centres, the US really is a place that has everything and offers home-grown brands and attract foreign concepts looking for
STARbUCkS RESERvE ROASTERY the most variety in terms of retail schemes across the globe. new consumers.
Chicago, US
DECEMBER 2019 / JANUARY 2020 RETAIL & LEISURE INTERNATIONAL 53