The story of globalisation of retail industry is interesting. A decade back, it was hard to imagine that international retailers would set up shop in your neighbourhood. But global retail giants are now spreading their wings across the globe to cash in on new opportunties.
Though India boasts of an emerging retail market with top international retailers like Wal-Mart, Carrefour keen to establish their presence, India does not figure in the top ten most preferred global retail markets. Out of the BRIC (Brazil, Russia, India and China) countries, China and Russia are in the top 10 list.
1. UNITED KINGDOM
The United Kingdom is ranked as the most preferred by international retailers. The UK is home to the highest percentage of the world's top international retailers, with 55 per cent of 250 brands surveyed present, according to 'How Global is the Business of Retail?', a new report from CB Richard Ellis.
India ranks 44th in the list of most preferred retail destination in the world due to factors like FDI restrictions and lower average per-capita income, a report has said. While retailers from the United States are represented around the world, in markets as diverse as South Africa, Scandinavia, Ireland and Israel, the UK attracts more American retailers than any other country.
London is often a springboard destination for American retailers, allowing them to be present in an iconic fashion hub and explore opportunities for expansion into Europe at the same time.
So which are the other countries that make up the top ten most preferred retail hotspots? Click here to find out. . .
Image: Shoppers gather around a department store on Oxford Street in London. | Photograph: Carl De Souza/AFP/Getty Images
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