Spending across the capital’s retail heartland is expected to see a +9% year-on-year lift, with spending reaching £164 million over the weekend of Saturday November 30 and Sunday December 1 which follows Black Friday on November 29.
New West End Company is a business partnership of 600 UK and international retailers, restaurateurs, hoteliers and property owners across London’s West End, anchored by Bond Street, Oxford Street and Regent Street.
New West End Company said: ‘Although the multi-year trend of declining footfall on Black Friday is expected to continue due to low consumer confidence within the UK, shopper excitement around Black Friday is set to peak this year, with payday ensuring people can start their Christmas shopping early.
‘High levels of tourism in London’s West End during the run-up to Christmas will also help boost sales in the area, as the low value of the pound – which is down 4.5% from March highs and down -3% year-on-year – continues to drive visitors to the capital. After a difficult summer for West End retailers, Black Friday spending is expected to bring a welcome relief for the high street and is hoped to tee up more continued spending in the run-up to Christmas.’
Henry Gregg, director of external affairs at New West End Company, commented: “Black Friday continues to be a significant moment on the calendar for domestic and international shoppers who are set to spend big in order to make the most of discounts. In the run-up to the busy Christmas period, the West End only Black Friday discounts, and the West End’s stature within the retail market, is sure to lure shoppers and provide a springboard for continued increased sales for retailers leading towards the New Year.”