The City roundup video: Shoppers will spend £1bn leading up to Christmas in the West End
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Elbows at the ready because shoppers will spend £1bn in the six weeks leading up to Christmas in London's West End, up 8 per cent on last year. That's according to the New West End Company which represents retailers on Oxford Street, Regent Street and Bond Street.
The organisation reckon Londoners are feeling more confident than ever when it comes to spending. And the US-imported Black Friday weekend could see £220 million go through tills, especially in electricals departments.
The big question for retailers will be though – who will win the cat and mouse game over whether to launch pre-Christmas discounts. Last year Debenhams and Mothercare paid the price by offering big discounts before the big day, but with a warm Autumn causing problems, some may be forced to start sales early to shift the extra stock.
Either way, it will be another big Christmas for retailers and comes as the West End is named the busiest shopping destination in Europe.
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