Asian retailers rapidly expanding in the U.S.

Asian retailers are rapidly expanding in the U.S., and there's no better example than the New York area's massive retail-entertainment complex, American Dream in East Rutherford, N.J.

Per my latest count of the megamall's offerings, there were 50 Asian tenants, including famous global brands and newer players as POP MART, MINISO USA, Kiokii and..., H Mart, Rolife by Robotime-Total Puzzle Solution, heytea, Hello Kitty, ALAND USA, Ebisu Lifestyle Store (colorado), GENTLE MONSTER, A BATHING APE®, EP YAYING雅莹, Jollibee Group North America, Bandai Namco Entertainment America Inc., Kung Fu Tea, Hey! I am Yogost Indonesia, Naixue Tea & Bakery of United States, Real Fruit Bubble Tea, Vanessa's Dumpling House, Little Sheep Hot Pot, Sushi Express Group Pte. Ltd., Ugly Donuts & Corn Dogs, Szechuan Opera, Lady M Confections Co., Ltd., Nan Xiang Xiao Long Bao, Wagyu House and Chubby Sushi (by Chubby Group), YOYOSO and many others.

The trend to pursue Asian retailers expanding in North America is led by Triple Five Group's visionaries like Raphael Ghermezian, Don Ghermezian, Laura DeSwart and others who truly understand retail and how Asian retail is the wave of the 2020s in America.

Asian retailers not only cater to American tastes but they also attract Asian Americans and Asian tourists. American Dream's New York Metro trade area has among the largest highest-earning Asian Americans and Pacific Islanders (AAPIs) population in the U.S. (2.5M residents with median HH income of $86,450 and 2.9M tourists). In the New York area, Asian retailers are also expanding to Flushing (Queens), which has a strong street retail hub and Koreatown in Manhattan.

In California, Asian retailers are moving heavily into Great Mall of the Bay Area (Milpitas), Stonestown Galleria (San Francisco) and Asian Garden Mall (Westminster, a Little Saigon hub in Orange County).

Asian retailers seek top-tier luxury and tourist-oriented malls like Aventura Mall (north of Miami), King of Prussia Mall (Philadelphia suburbs), Lenox Square (Atlanta), and Bellevue Square (near Seattle).

However, this phenomenon is not exclusively coastal. These global chains are opening locations in Austin (Gateway Shopping Center and Barton Creek Square), Houston (Chinatown and nearby malls), Dallas suburbs, Asia Mall (Eden Prairie, Minn.), Woodfield Mall (Schaumburg, Ill.), Streets of Woodfield (north of Chicago), and Fashion Outlets of Chicago (Rosemont).

How do you get your share of this trend? The property has to be located in a market where Asian-Americans live and/or tourists from Asia flock. Analyze your demographics and check to see if there are grocery stores that cater to Asian tastes near your property.

But, most importantly, your leasing efforts have to reach out to Asian retailers and their brokers.

Read more: Asian Retail Brands Are Chasing Space in the U.S. (ICSC Commerce + Communities Today)