The Live Wire



Press Release

Sunshine and tourists boost London sales

July 20 2009

Retail sales in central London in June were 4.7% higher, on a like-for-like basis, than a year ago, when sales were up 9.0%.

Retail footfall in June picked up above its year-earlier level, helped by the hot sunny weather which brought people out looking for summer items.

Sterling’s weakness against the euro continued to attract overseas visitors, especially those from western European countries, but tourists were more cautious and tended to spend less.

Food sales improved further, helped by the hot weather. Clothing, footwear and outdoor living also benefited, especially in clearance sales. Homewares and big-ticket items remained difficult.

Stephen Robertson, Director General, British Retail Consortium, said:

“Sunshine and sales helped to boost London retail sales. Footfall in the capital was well up on a year ago – as shoppers sought out summer clothes, sandals and outdoor goods.

“The pound’s weakness against the euro continued to attract shoppers from western Europe. And sales in the capital were also helped by Middle Eastern visitors. Although individual tourists have become more cautious, there are more of them which produced sales gains.

“Yes, London outperformed the rest of the UK. But, like the rest of the country, uncertainty about jobs means Londoners are still nervous about spending – particularly big-ticket items.”

Helen Dickinson, Head of Retail, KPMG, said:

“Many of London's retailers had a better month in June, boosted by the good weather and some early sales and promotions which benefitted clothing and footwear in particular. Although stocks are being managed tightly in the current environment, margins are being eroded due to the intensity of competition. Consumer confidence continues to hold up better in the capital than in other parts of the UK but there remains a high level of volatility on a day-to-day, week-to-week basis and among individual retailers.”

To view a full copy of the press release please click here.



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British Retail Consortium

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