Stonking start to summer in London’s West End: Best month for West End retail in 15 months

July 18, 2011 - PRLog -- The fortunes of retailers in London’s West End were lifted in June, as retail sales soared by +11% Year-on-Year, and food & drink sales jumped by +4% year-on-year - a record month, in stark contrast to the -0.6% sales slump on UK High Streets. New West End Company and Heart of London Business Alliance, representing 600 businesses in London’s West End, today report the strongest retail sales month in London’s West End since March 2010.
This unprecedented start to summer is set to continue, report New West End Company and Heart of London Business Alliance, representing over 600 West End businesses. Forecasting 600,000 extra revellers set to come into the area as tourist season reaches its’ height, an additional £30million in spend will set the night-time economy of hotels, restaurants and bars booming.  

With international visitor levels due to peak in the last two weeks in July, two of the most significant inbound visitor markets to the area – United Arab Emirates and Saudi Arabia – will head to London’s West End during the pre-Ramadan period. Set to spend £210m in the West End this summer and shelling out up to £2,000 per person, Middle Eastern visitors come for the all-round luxury experience – taking advantage of the night-time offer of shopping, staying and eating in some of the best venues in the capital.

Coinciding with a predicted 24-degree heatwave, UK day-trippers and weekenders will also reach a crescendo towards the end of July, with figures from the Association of Train Operating Companies showing that last July 8.5million people journeyed into London in the last two weeks of July 2010. This figure is set to increase this year with five weekends in the month increasing London’s capacity for out-of-town visitors.

Jace Tyrrell, New West End Company, which represents 600 retailers on Bond Street, Oxford Street and Regent Street says: “The summer months are incredibly important for West End retail as shopper spending reaches a mid-year peak around holiday season - as seen by the soaring sales figures in June. With a +6% hike in visitors last month and 600,000 extra visitors set to come into the West End in July, strong summer sales are set to keep tills ringing.”

Karen Baines, Heart of London Business Alliance, which represents over 200 businesses within the Leisure and Entertainment industry in Piccadilly Circus and Leicester Square adds: “June was a good month for us with spend on food and drink up +4% compared to last year. Already in July we saw our strongest weekend visitor numbers of 2011, and anticipate that the tourist peak this month will ensure July is a strong month for the night-time economy of the West End.

The entertainment and hotel offer in London’s West End, boosted this month by the opening of Europe’s first M&M’s World store, is incredibly popular with international and out of town visitors. Many of our businesses see around a third of their trade coming from these groups, so July is set to be a strong month.”

Kevin Rockey, General Manager, W London – Leicester Square comments: “July is proving to be an extremely busy month for W London. The hotel is running at occupancy levels of almost 90% which is unprecedented for a property that has been open for less than six months. This goes to show that London is and always will be a thriving city for international travellers. It also illustrates that our guests want to stay in the vibrant heart of London in Leicester Square.”

Says Margaret Newman, General Manager of St Christopher’s Place: “We’ve already started to see an increase in retailers and restaurants trading well in June, and with peak tourist season nearly here we’re expecting a further growth in footfall throughout July, particularly as shoppers take advantage of the many alfresco food and drink offers in the area.”
Christian Poole, Novus Leisure, the premium bar, restaurant and club operator with Grace, Jewel, Strawberry Moons and Tiger Tiger in London’s West End says: “Summer is always a core trading period for us, particularly over the weekends, when we see Londoners and out-of-towners alike coming to sample the infamous West End experience. So with five weekends in the month, we expect all of our six West End venues to be particularly busy this July, creating a great atmosphere through the summer.”  

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Notes to Editors

More Information on New West End Company:
New West End Company is a company dedicated to driving forward London’s West End as the world’s top shopping destination. It is supported and run by major retailers and property owners in Bond Street, Oxford Street and Regent Street.
New West End Company ensures the ongoing commercial success of the area by promoting the district, delivering street management services and funding public realm projects to improve the shopping environment.  It is a leading partner in the biggest regeneration programme of London’s West End in its history.  Find out more at www.newwestend.com

200 million visitors travel into the West End each year.  Of these visitors 25% are from overseas and a further 21% are from outside of London.
Oxford Street was named best destination in the Visit London awards 2007 & 2008.
London’s West End is the world’s top shopping destination, with a world-class mix of 600 shops, 40 renowned theatres, 30 museums and galleries, 17 Michelin star restaurants and 7 tranquil green spaces.

Heart of London Business Alliance
The Heart of London Business Alliance acts as an advocate for businesses and property owners in the area surrounding the world famous landmarks of Piccadilly Circus and Leicester Square. It is a force for driving positive change, dedicated to developing strategies to improve the trading environment and bringing exciting new projects to help improve the Heart of London and promote it as a great place to visit, trade and work.
As the first Business Improvement District to achieve a mandate for a second term, the Business Alliance’s mission is to realise a shared vision for a confident, vibrant and bustling world class destination.
www.heartoflondonbid.co.uk
www.westendlondon.com