New West End Company

February 01 2010

Statement from New West End Company on retail performance in London’s West End in January:

Retailers in Bond Street, Oxford Street and Regent Street saw a 6.1% rise in sales in January (year-on-year), buoyed by international trade, despite the impact of the snow early in the month hitting visitor numbers, with a drop in footfall of -5.8% across the area. 

With 25% of visitors to London’s West End coming from outside of Greater London, disruption caused by the weather kept many of these shoppers away, particulary in the first two weeks of the year.  However, figures from Global Blue*, show international shoppers helped drive a sales increase in the West End, with sales in store by foreign visitors up +19% overall year-on-year in January.  

Although the 6.1% year-on-year sales growth is based on a poor Janaury in 2009, retailers in London’s West End enjoyed a more prosperous Janaury than the rest of the UK, which saw a drop in footfall of -7.5% and sales also down at -0.7%.

Sales in store by international shoppers – increases in January 2010 (y-o-y), according to figures by Global Blue:

Australia – up +54%
Malaysia – up +48%
China – up +46%
Thailand - +41%
Russia – up +40%

The West End Sales  and footafall indicies are collated by data trackers, Springboard, on behalf of New West End Company and comprise sales data from West End department stores, fashion and home retailers (non-grocery), accounting for a total of 70% of West End floorspace. 

For more information or images please contact Hannah Walsh, Rain UK, 07966 468 307. 

*Global Blue, the home of international shopping for travellers, merchants and banks, is the market leading VAT refund service provider