Taipei second-top market destination in Asia for retailers in 2017

Taipei, Taipei was ranked as the second-top market for international retailers in the Asia-Pacific region last year, a report released Friday by commercial real estate services and investment firm CBRE Group, Inc. shows.

The city attracted 52 new international brands in 2017, according to the report, which examined 47 countries and 123 cities that saw international retailers entering for the first time last year.

Among the new entrants, almost half of them were coffee and restaurant retailers, Li Chia-ping (???) from CBRE Taiwan's research department said, pointing out that nearly 90 percent of these companies were Asian brands from Japan and South Korea.

Dining out is not only about eating, but is a form of social gathering for Taiwanese consumers, which has helped spur newcomers in the city's catering business, Li explained.

Besides international entrants, Li observed that the city's department stores have also been carrying more food and beverage stalls as a means of attracting more customers and boosting revenue.

The CBRE research executive said he expects the catering business to remain in hot demand for the retail store lease market through the remainder of 2018.

In terms of global rankings, Taiwan came in third, behind only Hong Kong and Dubai, which saw 86 and 59 new international entrants last year, respectively, the CBRE report shows.

They were followed by London, Tokyo, Doha, Toronto, Singapore, Prague and Shenzhen.

Source: Focus Taiwan News Channel