London retailers hail pre-Christmas sales
London shops enjoy biggest yearly retail sales growth in three years in November
Also In The News
|
By Adam Leveridge
Jenson Button took the runner-up spot at the coveted BBC Sports Personality of the Year award ceremony in Sheffield, in the same week as being crowned the 2009 formula one world champion at an FIA gala in Monaco. |  |
Monday, 14, Dec 2009 01:02
By Amy Gallivan.
London shops enjoyed their biggest yearly sales growth since 2006 in November as the capital bucked the nationwide trend of a slow Christmas build-up.
Growing consumer confidence pushed figures taken last month to 13.3 per cent higher on a like-for-like basis than a year ago when sales growth had fallen as low as 0.4 per cent.
Retailers have continued to drive price cuts and widespread promotions to entice bargain hunters into the capital.
Stephen Robertson, director general of the British Retail Consortium, said:
"These are great figures- the best sales growth for three years."
He added: "London retailers have had a very encouraging start to Christmas with even big ticket items doing well."
It was revealed last month that footfall figures in the capital rose to their highest since October 2006; the best growth since June this year.
Head of retail at KPMG Helen Dickinson said: "Although the rest of the country has shown a relatively slow build up to early Christmas trade in November, London has bucked this trend."
The drop in the economy has proved popular with overseas customers who have flown in from western Europe through to the Middle East, China and Hong Kong.
Mr Robertson added: "The weak pound continues to make London attractive to overseas visitors and November's record rain brought shoppers in from the suburbs, helping central London department stores in particular."
Food sales have also continued to profit including in-store restaurants that have benefited from the damp winter weather.
Major department stores have remained focused on pre-Christmas profit and slashed prices with enticing discounts and offers on homewares, furniture and gifts.
Mr Robertson added: "Retailers will be hoping customers remain as resilient into the new year. There are big uncertainties out there and we have yet to see the effect on sales of tough measures in the pre-Budget report."