Adding an air of international appeal is one way shopping center owners can diversify their tenant mixes while providing shoppers with a new experience.
Barriers with culture, language and differences in laws, however, can make doing business in the U.S. tricky for foreign retailers.
David Rabinowitz, partner at Goulston & Storrs and Co-Chair of the firm’s Retail Group, and other attorneys in Goulston’s Retail Industry Group know how to navigate issues based on their years of experience representing international retailers entering the U.S.
In fact, today’s experience-driven retail climate has necessitated that owners focus on differentiating themselves from the competition.
As with most strategies, courting a foreign retailer begins with due diligence on both sides. Determining where the demand lies, what products resonate with American shoppers (which may be different than European or Asian shoppers) and what point of U.S. entry is ideal (such as a large metro center versus a suburban mall) can help foreign retailers map out a national real estate plan for the U.S. market. Rabinowitz also believes that flexibility is key for both landlords and tenants as the retail world continues to evolve.
Click the video above for more strategies on foreign retailers entering the U.S.
This video was created as part of the Retail Insight newsletter by Shopping Center Business, a six-week publication leading up to ICSC RECon and including post-conference coverage. The videos in the publication are created in conjunction with our content partners, which sponsor the newsletter. Click here to subscribe and see archived newsletters.