Shoppers are expected to spend £52m across London’s West End today (26 December), up 4% on last year as people take advantage of the weakness of sterling.
Tills in stores at Bond Street, Oxford Street and Regent Street are expected to take a total of £190m this week, according to the New West End Company.
Of this, £62m will come from tourists. The average spend is expected to be £1,043 per person.
Jace Tyrrell, chief executive at the New West End Company, said: “The Boxing Day sales have become a tradition for domestic customers but we also predict a high number of international visitors will take advantage of currency fluctuations and low-cost flights to come to the West End.”
New West End Company cited figures from tax free shopping specialists Global Blue, which suggest visitors from China will be responsible for 20% of all non-EU spend in the West End this week. New West End Company predicted this trend would remain strong moving into January.