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West End retailers to get £50m boost on Christmas Eve

Retailers in London’s West End are expecting to take £50m on Christmas Eve as last minute shoppers pick up Christmas gifts.

Trade on 24 December is usually double that of an average day and as it falls on a Saturday this year, the day is expected to be busier than ever in the area, with 900,000 visitors predicted.

Retailers in the West End have enjoyed a strong Christmas trading period to date, with sales in November soaring by 13.9% year-on-year.

The luxury sector has seen particularly strong sales, driven by a continued influx of international shoppers looking to make the most of the weak pound post-Brexit. Bond Street sales were up 34.3% year-on-year in November while footfall rose by 4%.

Luxury sales in the wider West End jumped by 51% compared to 2015.

Retail sales in Oxford Street were up 13.6% year on year in November whilst Regent Street saw a 14.3% uplift.

Jace Tyrrell, chief executive of New West End Company, said: “We’ve witnessed a fantastic trading environment in the run up to Christmas, with November and Black Friday weekend exceeding all expectation and continuing to show growth on this time last year.

We expect a significant trading day on Christmas Eve, boosted by continued international spend and the traditional last minute dash.”

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