Western Sydney is set to spend $12 billion on retail over the next 10 years, according to a recent report.
The report by Urbis, A Perfect Storm for Retail, revealed that retail spending by Western Sydney residents is projected to reach $40.37 billion in 2026 – compared to $28.09 billion spent in 2016.
Sydney Business Chamber, Western Sydney director David Borger said the area would need to build the equivalent of 15 Westfield shopping centres to accommodate the boom.
“Parramatta is expected to develop three major new retail hotspots including the new Civic Link street, Parramatta Square and the Riverside precinct.
“Our report shows that pedestrian traffic from an influx of students, residents and workers will drive massive new retail spending.
“We would love to see huge international fashion brands such as Armani Exchange, Ralph Lauren, Boss and H&M come to Parramatta to complement the existing mix of what’s already here.”
Borger also said the area had the potential to become an international shopping destination on par with Fifth Avenue in New York or Rodeo Drive in Los Angeles.
As the City of Parramatta commits to further support for retail opportunities in the area, other brands on the region's hit-list include, COS, Scotch & Soda, Sass & Bide, Camilla, Jac+Jack and Zimmermann.