Global Retail Market Study 2013 by The Location Group
Swiss based Location Group released today in Zurich its latest Retail Market Study, the first such comprehensive report in terms of coverage and data. The report is divided in 3 books with a total of 1,500 pages (Europe / Middle East, Asia & Pacific / North & Latin America), covering 150 cities worldwide, 800 high streets, 500 malls, 1.000 retailers, 3,000 new store openings
Among the key findings of the report are:
Purchasing power across several European countries has seen a major decline between 2007-2013. Germany leads in terms of purchasing power, estimated at €1,68 million in 2013, while per capita purchasing stood at €20,621. Switzerland leads in terms of per capita purchasing at €36,351, while its overall purchasing power is estimated at €289,163.
Oxford Street (London) registered a record rent average at €10,245/sqm in Q1 of 2013, while Champs Elysees (Paris) registered an average rent of €18,000. Milan’s Via Montenapoleone saw an average of €7,157/sqm, followed by Via Spiga at €4,850/sqm. Moscow trails other major European capitals, with average rents between €5,833/sqm and €5,100/sqm. Madrid registered in 2013 its lowest rents since 2008, down 40%, with high street Calle Serano at an average rent of €1,800.
Most expensive global highstreets in 2013 (average rents):
Fifth Avenue (New York) – €23,307/sqm
Queen’s Road (Hong Kong) - €19,528/sqm
New Bond Street (London) - €16,038/sqm
Champs Elysees (Paris) – €15,051/sqm
Bahnhofstrasse (Zurich) – €11,316/sqm