Hanoi named in Asia-Pacific top crowded retail markets
Hanoi has been listed in the top three cities with the most crowded retail market in the Asia-Pacific region in 2014, after China's Beijing and Shanghai.
A new study on Crowded Level of retail markets in the Asia-Pacific region by commercial real estate firm CB Richard Ellis, showed that China's Beijing and Shanghai took first and second places in the rank respectively.
Vietnam's capital – Hanoi – was also ranked 13th in the list of 19 most crowded retail markets in the world. The French capital –Paris – tops the list, followed by Tokyo and Hong Kong.
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The study also revealed that Hanoi, HCM City and Danang City were among 10 cities where retailers planned to open the highest number of shops in 2014. Hanoi accounted for 36% of those, which was equal to Berlin and Shanghai.
This is the third consecutive year that Hanoi has been listed in the top 10 cities which attracted new brands.
The firm said retailers overall have been focusing on more mature markets that already have a strong retail footprint. Only one of 19 global cities – Hanoi – that CBRE ranked was not a mature retail market.
There were 18 mature retail cities on the list in 2013 as compared to 14 in 2012. The firm defined mature retail cities as those with 25% or more of the 334 retailers that CBRE tracks.