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The £100 Million Dash: West End owns last 48 hours of Christmas shopping
With a critical 48 hour countdown until Christmas, it is anticipated that 1 million shoppers will flood into the West End, according to the New West End Company who represent 600 retailers on Bond Street, Oxford Street and Regent Street.
Footfall increase +1.2% year-on-year for 12th-18th December
£50 million spend forecast for Mega Monday Boxing Day in the West End
Tomorrow, with a critical 48 hour countdown until Christmas, it’s anticipated that 1 million shoppers will flood into the West End, according to the New West End Company who represent 600 retailers on Bond Street, Oxford Street and Regent Street.
With Christmas Eve landing on a Saturday, it is set to be the biggest Christmas Eve in the last six years West End retailers are predicting a whopping £100 million will be spent in London’s premier shopping destination over the next two days [Friday 23rd December and Saturday 24th December]. As online deliveries draw to a close and the high street claims ownership of Christmas sales. Storming sales are additionally being attributed to two factors:
December pay day on Friday: This will spur last minute consumer spending and, with tightened wallets, many shoppers have also split their festive spend over two days this year.
The ‘man dash’: In the tradition of Christmas past, panicked men will be hitting the West End to start their all-important festive shopping. 80% of Christmas Eve’s 400,000 shoppers are estimated to be male.
This final Christmas sales boost comes as shopper footfall to the West End continues to gain momentum following a slow start to December sales. From the 12th – 18th December shopper footfall increased by +4.8% compared to the previous week and up +1.2% on the previous year.
Jace Tyrrell from the New West End Company, says, “Christmas has well and truly kicked off in London’s West End and retailers are pulling out all the stops to entice final sales during these last crucial shopping hours. The West End flagships are bringing forward certain merchandise to capture the male audience and last payday shopper audience, knowing that designer perfumes, luxury cosmetic, handbags, lingerie and fashion accessories are going to be the big hitters with these shoppers.”
“However, West End retailers are already hotly anticipating the Boxing Day sales. Although a tube strike is threatened, we anticipate over 700,000 shoppers will hit the Oxford Street sales, putting over £50 million through the tills and helping retailers to maximise their end of year profits.”
Antony Smith, General Manager for House of Fraser London stores, says, “The last pay day in December traditionally sees a surge in male shoppers, desperate to find that must-have gift for the woman in his life. We are expecting bumper sales of fragrance and beauty, as well as lingerie and accessories.”
Simon Fowler, managing director, John Lewis Oxford Street, says, "Tradition dictates that during these last few shopping days before Christmas, we'll see a flurry of male customers rush through our doors at John Lewis Oxford Street. Lingerie, beauty, jewellery and watches are all expected to be popular with these customers and our expert Partners will be on hand to ensure shoppers get that perfect last-minute gift for all the family.”
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.