London has been declared Europe’s number one retail destination, seeing off competition from world-famous rivals including Paris, Madrid and Barcelona.
The latest Globe Shopper City Index – compiled by market research analysts the Economist Intelligence Unit and sponsored by retail group Global Blue – placed the UK capital at the top of the table. A total of 33 cities were assessed as part of the study and ranked on factors including affordability, culture and climate.
“The capital’s shopping experience – whether at Christmas or any other time of year – is second to none,” said tourism minister John Penrose. “Next year the eyes of the world will be on us as we host the Olympics and the Queen’s Diamond Jubilee – this award shows once again that London really has something for everyone.”
The report also found that consumers from the Middle East spent more than their other non-EU counterparts over the year so far, making up 28 per cent of total store sales and forking out an average of £851 per visit.
Earlier in the week, a study from Verdict Research and business analytics firm SAS indicated that the Christmas period is likely to prove critical for UK retailers, warning that weakness in consumer confidence could return in the new year.
