West End Retailers Set To Bounce Back Ahead Of Biggest Shopping Weekend Of The Year With

Dec. 8, 2011 - PRLog -- West End sales in November dipped by -2.6% year-on-year, according to the New West End Company who represent 600 fashion-led brands on Bond Street, Oxford Street and Regent Street. This is in line with UK figures for non food sales of -2.1% year-on-year.

Several factors contributed to November’s figures including the unseasonal warm weather meaning that newly arrived winter stock such as coats, knits and boots were slow to sell. Additionally, the Crossrail development works along Oxford Street impacted on visitor numbers and worries about the economy continued to unsettle shoppers.

However, West End retailers are already reporting an upswing for December as shopper footfall for the first week of the month (w/c 28th November) was up 3% on the previous week - which is an annual jump of 1%. Retailers attribute this increase to November pay day kick starting Christmas gift shopping and plummeting temperatures stimulating winter fashion sales.

This has prompted optimism from retailers for a good December. Retailers are confident sales will gain further momentum this weekend as the West End hosts the seventh annual American Express Shop West End VIP Weekend (Very Important Pedestrian), forecasting that £150m will go through the tills during the biggest shopping weekend of the year. This year’s shopping extravaganza will host London’s longest 30 hour Carol-A-Thon to raise money for Kids Company and for the first time, Oxford Street and Regent Street will close to traffic on both the Saturday and Sunday to make way for shoppers and festive entertainment.

Richard Dickinson, Chief Executive of New West End Company organisers of the event says, “In November, which saw above-average temperatures hindering winter fashion sales and impact from major roadworks, it is not surprising that sales took a dip in the West End but December is already looking brighter.

“With 17 days until Christmas, we are working closely with the authorities to ensure those travelling into the West End have the best possible shopping experience and can move around easily. We have heard encouraging reports from retailers that sales are gaining momentum.  Across the West End, retailers are preparing for our traffic-free weekend with a potential £150m sales boost for the biggest shopping weekend of the year.”

Organiser of American Express Shop West End VIP Weekend, the New West End Company has worked with Westminster Council, Transport for London the Metropolitan Police and 600 retailers to put on the traffic free shopping event which involves diverting traffic to install two miles of festive activity.

Paul Marsden, Operations Manager Selling, John Lewis Oxford Street says, “We expect to see continued strong sales growth this week as there is no escaping that Christmas is around the corner. As the weather becomes cooler, we predict fashion, beauty and gifting will perform well, along with home as customers continue to invest in making improvements to their houses in preparation for visits from friends and family.”

Meave Wall, Selfridges' Store Director, says, “The American Express Shop West End VIP Weekend is the biggest shopping weekend of the Christmas season and, as in previous years, we are anticipating strong sales across all our departments. In particular, we are expecting items such as designer handbags, accessories, watches and our exclusive white gift collection launched to celebrate our White Christmas theme this year, to sell very well. As shoppers start to prepare for Christmas Day itself, the Christmas Shop and our food hall will be a big draw."

This year, American Express Shop West End VIP Weekend aims to raise over £75,000 for Kids Company and give over 3,000 vulnerable children a proper Christmas. American Express will give double rewards to cardmembers and £1 to Kids Company every time an American Express Card is used in the West End over the weekend.
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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
London’s West End offers a world-class mix of 600 shops, 40 renowned theatres, 30 museums and galleries, 17 Michelin star restaurants and 7 tranquil green spaces.
There are 200 million visits to London’s West End each year spending £7.6bn.  Of these visitors 37% are from overseas and a further 21% are from outside of London and it is now ranked number one globally for international flagship stores.