International spend returns to strength in London's West End
New figures have shown that international spend is back to strength in 2015 following a slowdown in growth last year, and Londons West End is reaping the benefits.
Global Blue’s latest insights for January to April 2015 reveal that spend in the West End is up 4% year-on-year to date following a dip of 3% in 2014. In addition, spend growth from key nations has returned to the double digit growth it experienced in previous years.
During the period, shoppers from China, the Middle East and South East Asia were found to be spending over a third more in the capital’s top shopping district per transaction than in the rest of the UK.
Shoppers from Qatar and Saudi Arabia spent 12% and 28% more respectively while spend by US shoppers saw 23% growth. China retained its position as the top spending nation in the West End with 20% of spend and a 9% year-on-year increase to date.
Global Blue said its influence has continued to ripple out to South East Asia with Hong Kong shoppers spending 48% more year-on-year.
Gordon Clark, UK country manager of Global Blue, said: “It is encouraging to see international spend coming back to strength this year, but it is important for retailers to maintain their ambition to maximise the opportunity these top spending shoppers bring and implement services which will continue to drive spend.”
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