The specialist journal,The Banking Times, reports that according to research from Barclays, nearly a quarter of retailers questioned named Germany as their number one choice, closely followed by China and Australia.
The results support recent announcements by Arcadia and Next, with Arcadia reportedly opening its first outlets in Germany in partnership with Karstadt and Next launching a Chinese-language site, later this year.
Richard Lowe, head of retail and wholesale at Barclays, said: “The beauty of Germany, for clothing and footwear retailers in particular, is that it has a similar climate to the UK so there is no need to spend time and money adapting lines.”
Barclays’ research shows that over two thirds of British retailers currently generate at least some of their sales from outside the UK, however, the percentage remains relatively small, with the US currently the top overseas destination for British retailers.
When asked how they plan to enter their chosen markets in future, online is the top choice (62%) and when asked about the general prospects for the British high street and consumer spending, retailers are expecting more than two years to pass before seeing a sustained recovery.