West End sales drop in October
By Gemma Taylor 11:16AM - Tue 15th November 2011
Retailers in London’s West End have been affected by unseasonably warm weather, as sales in October were down 4.1 per cent year-on-year, it was announced today.
The New West End Company, which represents 600 retailers on Bond Street, Oxford Street and Regent Street, has revealed that sales of winter knits and coats have been far lower than in previous years, despite being prominently displayed in shop windows.
Having enjoyed the warmest October in five years, UK consumers are cautious about spending on winter garments, and are also fearful over the Eurozone crisis, which has been blamed as a contributing factor to the decreased footfall.
It is hoped that shoppers are aiming to spend in the run up to Christmas, as the area has already experienced a rise in consumer spending since the switch-on of the Christmas Lights on November 1st.
Marks & Spencer, the high street stalwart, hosted the event at its store in Marble Arch, as the lights were turned on by female pop group The Saturdays in front of a crowd of thousands.
Richard Dickinson, CEO of New West End Company, pointed out that, traditionally, sales improve during the festive season.
“Retailers hope that November will be a positive month, as those on Oxford Street launch pop-up sales to get consumers spending for the festive season,” he added.
“Retailers will be pulling out all the stops to offer a huge range of great products at the best possible prices for shoppers to enjoy.”