globe retail outlook data


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The Italian retail market has experienced a new revitalization over the last two years, reaching maturity with new retailers entrants and new developers planning new modern schemes. The improving of economic fundamentals, started at the end of 2014 and strengthened over 2015, combined with the renovated interest among investors and the increasing competition from the e/commerce channel are the drivers of the new renaissance of the retail sector. Despite it, the modern retail distribution penetration remains below the most mature European market and the recent crises slowed down the retailers expansion plans. Retail space is a mix of high streets, shopping centres and dominant outlet centres. There are also approximately 73 out-of-town retail parks, with very few of them that are regionally dominant and which are object of a strong investors’ interest. Milan, famed for the fashion streets as via Monte Napoleone and via della Spiga, continues to be the first Italian cities where international retailers test the Italian market. In addition to Milan leading the way with its mix of retail, other major centres, such as Rome, Florence, Venice continue to attract new retailers, mainly drawn to the tourist flow potential. The recovery remains fragile but the economic climate is positive and domestic demand continues to be the main driver for growth with consumer confidence still high. Food is continuing to strengthen its positioning with the entry of  new brands such as KFC, 100 Montaditos  Domino’s Pizza and new concept store like those combining retail and food (i.e. Replay with the Garage restaurant). New international entrants to the Italian market over the 2014-2015 years include Victoria’s Secret with two store in via Torino and Corso Vercelli in Milan, Wycon, JD Sports, Nyx, Tiger, H&M Home, Primark and the first Italian flagshipstore of Lego. These joined the more established brands Zara, H&M, Apple, Nike some of which are still strengthening their stores network. The most active domestic retailers include Terranova, Alcott, Piazza Italia and the Calzedonia group - with its brands Tezenis, Intimissimi and Calzedonia. From a real estate perspective, expectations for the year are stable but 2016 completion sharply exceed 2015 level. The largest completion recorded in 2016 to date comprised two shopping center in Lombardy (Il Centro, Elnòs).


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Italy is hardly just one country, but a combination of many different regions, each with their own food, cultures and dialects to explore. Don't be surprised if you see well dressed people buzzing around the city on scooters or enjoying a mid-day gelato. But be careful with your hand gestures because you never know what they might mean.


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