What: According to a report by Cushman & Wakefield, fashion brands made up over 40% of retail floor space across Europe in the first half of 2023.

Why it is important: This report provides valuable insights into current leasing trends and consumer preferences, guiding strategic decisions for retail expansion and experiential offerings.

This trend was especially pronounced in larger retail spaces. The food and beverage sector was also active, making up 17% of transactions. Health and beauty brands, especially premium ones, doubled their space transactions compared to the previous year. The majority of deals were for smaller units, with over 80% being less than 6,500 square feet.

The report also notes a growing consumer demand for experiential and cultural retail experiences, with examples like the Paradox Museum and automotive showrooms. This trend is expected to continue, with entertainment-based brands and electric car companies expanding their retail presence in Europe.

Fashion and beauty brands are leading the race for physical retail space in Europe