Growing Trend for West End Global Shoppers
April 20 2009
New West End Company which represents the interests of retailers on London’s most famous shopping streets – Bond Street, Oxford Street and Regent Street - has released a major study undertaken to map the global shopping habits of the world’s burgeoning group of “Globeshoppers”.
Entitled West End Map Of Globeshoppers, the study, which was carried out by The European School of Management, aims to give retailers the intelligence to further grow the West End’s international market share of “Globeshopper” traffic which retail experts say could result in an increase of up to £3bn in retail sales for the West End alone by 2012.
New West End Company’s West End Map of Globeshoppers provides detailed insights into when the top international shopper markets, which currently include USA, France, UAE and China, are likely to travel to the UK. This is based on national holiday patterns across the world and the West End’s past shopper traffic indicators, as well as research into Globeshoppers’ stimulus to travel, shopping intentions and retail and leisure preferences once they are here. The study, which examines insights from a variety of sources including Visit London and Global Refund, the market leader in tax free shopping, as well as data from many of the West End’s 600 retailers, is being used by New West End Company and its member retailers to grow the West End’s share of the Globeshoppers’ multi billion pound wallet, at a time when domestic retail spend is under pressure.
The West End has become a first choice destination for international brands to launch their European flagships because of its rich mix of international clientele. The likes of Banana Republic, Abercrombie and Fitch and Urban Outfitters have all chosen the area to launch their brand in Europe. In this month’s issue of Vogue, Michael Kors indicates that his recent store opening on Bond Street allows him to reach an international shopper group; whilst he has no stores in the Middle East or Russia despite them being key markets, it is not necessary as these shoppers will travel into London’s West End.
For a copy of the full release please click on the link below.