Shoppers to spend £2.5bn in London’s West End during Christmas
today Nov 18, 2019
Some 42 million shoppers from the UK and abroad are expected to visit London’s West End, including Bond, Oxford and Regent Street, over the eight-week Christmas trading period.
And after a tough year of retailer failures and low consumer confidence, brands will be happy to hear that the area will get a multi-billion pound boost during the festive season, according to New West End Company.
After reviewing spending patterns from the year to date, the business organisation said spending across London’s retail heartland will match last year’s spend of £2.5 billion.
The signs are optimistic: international sales across the West End have increased by 12% in the year to date, providing some support that favourable exchange rates for shoppers from the US, China and the Middle East will help insulate the district from what is expected to be a challenging Christmas period.
A number of West End only experiences, including John Lewis’ Winter Carnival and Hamleys’ Santa’s Grotto, plus the new digital lighting scheme on Oxford Street, are expected to draw large crowds.
And the strong mix of 218 international brands, exclusive independents and every major UK retail chain, should ensure the district remains a one-stop-shop for Christmas shopping, the New West End Company said.
“There is no doubt that this has been one of the most challenging years for retailers with ongoing political uncertainty hampering consumer spending. Although London’s West End is not unaffected by these challenges, the Christmas trading period offers retailers a vital boost as over 40 million shoppers are attracted here by our global reputation as the ultimate Christmas destination,” said Henry Gregg, director of external affairs at New West End Company.
“From the new Christmas lights on Oxford Street and the not-seen-elsewhere experiences in stores, the West End offers domestic and international shoppers reasons to visit again and again over the festive season, contributing to resilient footfall and sales during this crucial trading period.”
Copyright © 2020 FashionNetwork.com All rights reserved.