American retailers already operate in more foreign countries than Asian and European retailers do, but now, U.S. retailers are widening the gap, reports CNBC’s Diana Olick.
According to a CBRE Group report, U.S. retailers accounted for 21% of retailers entering cities internationally in 2015. Italy was second at 14% and the United Kingdom was third at 11%.
"I think it's an indication that U.S. retailers are seeking growth, and one of the main drivers of growth is to expand into a channel that they're not in today," said Anthony Buono, chairman of CBRE's global retail executive committee.
The top markets benefiting from international expansion are, not surprisingly, in Asia. Hong Kong, Singapore, Tokyo and Taipei, Taiwan, head CBRE's list. Moscow, London, Dubai, United Arab Emirates, Beijing, Bucharest, Romania, and Doha, Qatar, round out the top 10. As for what's moving, food and beverage retailers lead, with luxury and business following, and then midrange fashion.