Not only is Las Vegas home to bright lights and blackjack, but once a year it is host to ReCon, the global convention for shopping centres.

With more than 30,000 attendees, ReCon, which is also the flagship event for the International Council of Shopping Centres, comprises a myriad of networking, deal making and educational opportunities for retail real estate professionals from across the globe.

It is also a hotspot for gauging the general mood of retail, particularly when it comes to UK and European comparisons and collaboration.

The mood this year is encouraging as retailers in attendance have increased compared to recent years. Individuals are more positive and upbeat and their businesses seem hungry for future growth. This growth is primarily focused on entering new markets and more than ever, businesses are in search for a greater understanding of these markets and potential locations, seeking as much detail and insight from landlords as possible before they reach any decisions. 

US retailers appear keen to meet property owners and form direct relationships to create this better understanding rather than just relying on agents as has happened in the past.

Europe remains central to expansion plans for many US retailers, who have a strong disposition towards the UK which serves as something of a bellwether for European retail, and offers similarities of language and culture.

London remains the primary test bed. Businesses will look to secure a few stores in the capital in order to introduce their brand and form an identity before expanding out to prime retail centres in the rest of the UK, and then the rest of Europe. J Crew’s arrival on Regent Street this week is a prime example of this initial step.

With the US in an increasingly optimistic economic position, retailers in the country believe their sales performance will be reasonably good this year. So what is it that retailers in the States can do to ensure improved sales in the current market if their business is to have the confidence to stretch across the Atlantic?

The message from Vegas is that retailers must be increasingly savvy about ensuring a point of difference in a fiercely competitive environment, particularly in certain sectors such as mass market fashion. 

When it comes to locations, emerging retailers are very specific on their desired locations, wanting prime spots in exciting, modern environments. This can result in a variety of new formats, such as brands coming together to share a rented space in order to capitalise on the best location and experience on offer.

With the arrival of American brands such as Victoria’s Secrets, J Crew, Lululemon and Tesla, retail destinations in the UK have the opportunity to capitalise on an increasingly diverse and international tenant mix. Consumers are curious about these exciting foreign entrants and if their arrival boosts footfall and interest, it should have a positive impact on British retail and the country’s economy as a whole. 

Sheila King is leasing director of new business at property developer Hammerson.