Tokyo - The City of Choice for Retailers 04 September 2023
Retail leasing demand in the world’s leading retail markets continues to rebound as economic activity recovers in the wake of the COVID-19 pandemic. The Tokyo retail market is no exception, with a resurgence in retailer demand having commenced in H2 2022.
In addition to existing retailers looking to increase their store numbers, several overseas brands have made their first ventures into the Japanese market. As was the case prior to the pandemic, Tokyo continues to be a preferred location for retailers seeking to establish or extend their store presence.
This report compares Tokyo with several of the world’s other major retail markets including New York, London, Paris, Milan, Shanghai, Hong Kong, and Singapore and explores the following factors that make Tokyo, and Japan as a whole, an attractive location for retailers to establish stores.
Tokyo: Rents are reasonable when compared to city GDP
Japan: E-commerce ratio as a percentage of total retail sales is low
Japan: Inbound tourist numbers and tourist consumption have demonstrated considerable scope for growth
This report was originally published in https://www.cbre.com/insights/viewpoints/tokyo-the-city-of-choice-for-retailers
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