Asia Pacific Retail Trends Q2 2024 (CBRE)

Despite the current subdued mood in mainland China, optimism is building for an eventual recovery. Several major brands have been seen seeking opportunities to optimise store networks in what is still a tenant-favoured market. Many retailers are looking to operate in a network emphasising one major flagship store per city.

Korea continues to witness a solid rebound in international visitor arrivals, which is driving up consumption and leasing demand. More demand for pop-up stores has been observed in emerging commercial districts including Seongsu, Hannam, and Dosan Park due to tight availability.

Vietnam continues to attract strong interest from foreign brands, particularly those from mainland China. More shopping malls are undergoing renovations to create space for new market entrants and provide a more memorable experience for shoppers by utilising new designs such as bigger atriums.

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