The 27th edition also shows that rent cost have risen 35% in the shopping street in the world - despite the global uncertainties increased in the last 12 months. The report also provides a ranking of 65 most expensive streets in each country. Vietnam's Ho Chi Minh City is the city with the shopping street in central districts ranks 32nd, increased by 1 grade compared with 2014.
In Vietnam, the liberalization of the retail market in 2009 was dominated by foreign brands and domestic brands, that are constantly expanding in order to maintain market presence. The most developed sectors of the retail segment is now food and baverage (F&B) and consumer products.
Mr. Theodore Knipfing, Director of Cushman & Wakefield retail sales in Asia-Pacific, said: "Prospects for the Asian retail market is very positive, growth in retail sales of 8.5% in average during the past 5 years. The number of tourists are promoting strong retail activity in the shopping venues with a prime location and convenience. Although the development of electronic commerce in the region is now very noticeable, but the traditional forms of shopping still has an important position in the market, the store owner will need to focus on improving the shopping environment and concern for the customer experience to increase competitiveness. "
Vietnam ranked 32nd in the nations with the shopping street with the most expensive rent cost in the world, in the context of Vietnam is preparing to join a series of free trade agreements such as AEC and TPP, it This makes domestic retailers face many difficulties because rent cost plays the 2nd important role (after the location) in business strategy. While foreign retailers have strong financial resources, they will afford to rent the ground with the most favorable position in the market.
