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One in four retailers worldwide surveyed for a March 2016 CBRE report plan to open six to 10 new stores in 2016. Another 23% say they plan to open 11 to 20 stores this year.
While about one-fifth of those surveyed say they plan to open just one to five stores, another 17% say they plan to open 40 or more stores. In total, 55% say they will open at least 11 new stores this year, which indicates that substantial growth is on the mind of a majority of retailers worldwide.
But if retailers across the globe plan to grow their base of stores this year, they still have a number of concerns about their openings.
By a large margin, rising real estate costs are the most frequent concern for retailers worldwide, with 56% of them citing it. Another 42% are still wary of the economy and its prospects. And even when affordable real estate can be acquired, over a third of retailers are concerned about the quality of their spaces.
Real estate concerns are always a factor for retailers, but this is especially so when, as in the CBRE report, 76% of those surveyed say street shops will be very popular brick-and-mortar expansions this year. Another 72% predict regional shopping malls will carry importance as sites of retail.
But no matter the concerns held by retailers worldwide—and they are diverse—the majority of them plan to plunge ahead steadily and open over 10 new stores in 2016.
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