Main Streets Across the World 2024

From a retail perspective, the sector has remained resilient. While total retail sales, in real terms, have slowed over the past year, they have largely remained close to or within positive territory. Moreover, taking a longer-term view, real consumption continues to grow in many markets (Figure 3). This is important to consider as the wider economic recovery takes hold. Interest rate cuts, together with lower levels of inflation and modest wage growth, will contribute to easing cost of living pressures and provide consumers with an increasing ability to make discretionary purchases—something that has been reigned in over the recent past.

FIGURE 3: REAL CONSUMPTION IN Q2 2024 VS Q4 2019 (100 = FLAT GROWTH)

135

130

125

120

115

110

105

100

95

90

85

UK

U.S.

Italy

India

China

Korea

Japan

France

Poland

Mexico

Taiwan

Canada

Thailand

Australia

Germany

Singapore

Philippines

Hong Kong

Netherlands

Source: Various government agencies; Moody’s Analytics

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CUSHMAN & WAKEFIELD

MAIN STREETS ACROSS THE WORLD 2024