The property firm carried out a study on behalf of The City of London about the quality of shopping facilities in the area.
It found that a third of people would shop more often in the City if there were more fashion outlets and a fifth would like to see more department stores.
CBRE executive director of planning Stuart Robinson said: 'The story of retail in the City is a good one with a vibrant and varied offer. But it could be even better, especially with greater exploitation of the public realm and pedestrian environment.'
To capture this demand, the report advises that the City simplifies and publicises its retail strategy and actively promotes the area, as well as developing larger retail units. Additionally, improvements are needed to public space to create an enhanced shopping environment.