Bangkok has become one of the more attractive cities for international retailers and now ranks eighteenth in the world in this category putting it ahead of renowned destinations like Las Vegas and Osaka, according to JLL’s The Destination Retail 2016. Asia as a whole is also trending upward and the report noted the region is now home to five of the ten most appealing cities for international retailers.
Bangkok has burst onto scene in recent years and is becoming a shopping hotspot for fashion consumers due to its rising income level among locals and an ever-growing amount of tourists visiting the city. Numerous international brands including H&M, Zara Home and Victoria’s Secret have already opened outlets in the city. They have been joined recently by Dior Homme, Pierre Hermé, A Bathing Ape and Tiffany & Co.
The epicenter of shopping in Bangkok continues to be the Ratchaprasong “Golden Mile” district where countless retail markets attract local shoppers and tourists alike. A total of 11 shopping centers can be found here with Siam Paragon, Central World and Siam Square One some of the most popular places.
EmQuartier, Central Westgate and Central Festival East Ville are newly completed projects outside of the CBD that have provided international retailers with opportunities to expand to new locations. The report pointed out that Bangkok’s retail landscape has been diversifying recently with renovations to Siam Discovery, the opening of HaHa Market and the continued success of Asiatique The Riverfront highlighting this trend.
The Destination Retail 2016 report provided a global ranking of 140 cities by their appeal to cross-border retailers. London topped the list with Hong Kong finishing in second. Shanghai, Singapore, Beijing and Tokyo were the other cities in Asia to place in the top-ten.
“Hong Kong remains Asia’s leading luxury shopping destination with many retailers using it as a springboard for expansion into Mainland China,” James Assersohn, JLL’s director of retail for Asia Pacific, said. “More broadly, the dominance of Asian cities in the index highlights the attractiveness of the region to retailers, thanks to its burgeoning middle classes and growing levels of affluence.”
