In H1 2024, rental activity for retail spaces in Europe was on par with 2023, according to Cushman & Wakefield. The report, based on 900 transactions that occurred during the first six months of the year, indicated that nearly a third of these deals were for fashion stores, accounting for nearly 40% of newly rented space. Fashion was in fact the most active sector, ahead of catering and health & beauty. However, though fashion was the most dynamic sector rental-wise in H1, the area of new retail spaces rented by fashion groups was down 13% compared to a year ago.

Luggage retailers played a leading role, their growth bolstered by the global tourism industry's recovery. Brands like Tumi, Delsey and Carl Friedrik all expanded their retail network. The mass market segment accounted for the lion’s share of the 900 deals monitored by the report, with 70% of the number of transactions and of rented space, while the premium sector (whose rented space fell by 50%) and the luxury sector (down 40% for number of transactions) were far less buoyant. In terms of store size, most of the transactions concerned smaller stores, retail units of less than 200m². Rental costs remained stable or increased, according to the report, but remained on average below their pre-pandemic levels.