Asia Pacific Retail Trends Q1 2019
- Asia Pacific retail leasing markets were quiet in Q1 2019 as most retailers adopted a cautious approach to expansion amid downcast sales performance
- Demand was led by cosmetics and personal care tenants, which are increasingly sought after by shopping mall landlords due to their strong sales and ability to attract high footfall. F&B expansion remained steady, led by cafes, dessert outlets and casual dining establishments.
- Weaker consumption is expected to inhibit leasing activity over the course of 2019. Economic headwinds will force a rethink of operating strategy, with retailers expected to slow their pace of expansion and focus more on enhancing the overall shopping experience.
- Shopping centres and department stores will undergo renovations or repositioning exercises, such as introducing new store formats and experience-based offerings.