40 million shoppers are expected to hit London’s main retail destinations
over the coming six weeks, as increased consumer confidence is proving
sales are steady and on the rise.
Bond Street, Regent Street and Oxford Street are the three main shopping
thoroughfares that will see Londoners spend over 1 billion pounds this
With Christmas Day falling mid-week on the calendar, the retailers can
expect a surge of last minute shopping for those who are waiting until
The New West End Company, which represents stores across the zone, believes
that sales will be up around 8 percent on last year, with shoppers
feeling less anxious about their personal finances than at any time since
the start of the credit crunch in 2007.
The organisation’s deputy chief executive Jace Tyrrell said: “The big
growth is the UK domestic customer, as generally consumer confidence is
stronger than it has been for some time. There is more spending power and
wages are growing in real terms.
“This has been a year of political uncertainty both here and abroad, so
there is a lot of pent-up demand to spend and the confidence is helping
people when it comes to buying big-ticket items.”