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West End shops enjoy boost as sales soar by 25% in one month
Felix Allen19 Oct 2009
West End retailers have received a boost after shoppers sent sales figures soaring.
Sales in Bond Street, Oxford Street and Regent Street shot up by 25 per cent from August to last month, according to figures released today.
September's receipts were also up by 4.6 per cent compared with the same month last year, and 3.5 per cent above September 2007. Retailers hailed the results as evidence of a returning spending confidence after consumers tightened their belts during the recession.
Stores will also be hoping the sales figures are a sign of a good Christmas period to come after a slow festive season last year, when many shops were forced to discount heavily in November and December.
Last month's figures reveal overseas visitors have boosted a surge in demand for luxury and mid-market fashions and accessories. Russians spent 346 per cent more than at the same time last year, with each visitor spending an average of £2,831.
Chinese visitors also spent 35 per cent more. But British shoppers were also returning, stores said.
Footfall, a measure of the number of people visiting shops, was down about five per cent year-on-year, but retailers said this only showed there were fewer window shoppers and more serious spenders.
Sally Scott, spokeswoman for Selfridges, said: "Business is great. Customers are feeling confident again, and we have experienced a good performance in September, boosted by the excitement of London Fashion Week which always gets people in the mood for shopping."
Erin Mullaney, buying director at Browns, said: "We have had a few great weeks. September was much better than August." Jace Tyrrell, of the New West End Company, representing shops in the area, said: "September was better than many stores expected with a marked growth in sales year-on-year.
"There's no doubt that the luxury market continues to be boosted by international shoppers with key markets from Russia, China and the Middle East, but many West End stores also noted a bounce back from the domestic shopper in September."
Reader views (2)
I am getting a tad tired with this kind of story which inevitably is followed the next day with a headline saying "The Recession Is Worse Than we Thought!"
Can we stop the green shoots news and the bad news and just go on with our daily, weekly, monthly lives until things really do SEEM better? Starting with no more money-printing and a normal interest rate?
- Sidney Marks, London, UK, 19/10/2009 18:59
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I suppose you want us to pat Gordon Brown on the back for steering us through these turbulent times?
The money's always been about,it's just people have been reluctant to spend.
- Steve, London, 19/10/2009 12:20
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