London Ranked Best City In Europe For Shopping In First Ever Globe Shopper City Index

Nov. 16, 2011 - PRLog -- British retailers, together with UK tourism bodies and leisure operators, today celebrated London topping the first ever Globe Shopper City Index – Europe produced by the EIU and sponsored by shopping and spending experts Global Blue. The Global Shopper City Index-Europe gong was awarded at BAFTA this morning and collected on behalf of the nation’s capital by London & Partners Chairman Dame Judith Mayhew Jonas and Patricia Yates, Communications and Strategy Director at VisitBritain.

London beat off stiff competition from Paris, Barcelona and Madrid to be ranked as the best European city for shopping in the Globe Shopper City Index - Europe, which was researched and compiled by the Economist Intelligence Unit. International globe shoppers - that is tourists whose travel choices are heavily motivated by shopping opportunities - are estimated to be worth £3 billion to the London economy (Shoparazzi - November 2011).

Beating over 33 other European Cities, London was ranked first by the Globe Shopper City Index- Europe according to 38 criteria grouped into five categories: shops, affordability, convenience, hotels and transport, and culture and climate. This demonstrates why London has seen a massive boom in international tax free shopping this year alone, up 30% on 2010.  According to Global Blue’s data on tax free shopping services provided to nearly 250 nationalities coming to London, the biggest, and fastest growing, spenders in London are visitors from China, the Middle East, Russia, Nigeria, US, Thailand and Brazil.

Says Per Setterberg, CEO of Global Blue: “By commissioning the Globe Shopper City Index-Europe to rank European cities based on the most important factors for shoppers, we are able to gain vital insight into what is driving these commercially valuable globe shoppers, whose spending power far exceeds their domestic counterparts and is proactively sought after by retailers and cities all over Europe.  For example, the typical spend of a Chinese visitor might be worth £1,058 per transaction whilst the spend per Middle Eastern shopper is £850 per transaction. These average transaction sizes, when repeated many times over during a visit to London, constitute a considerable advantage to City economies.” (SEE CHART BELOW FOR FULL INTERNATIONAL SHOPPER GROWTH FIGURES)

Commenting on the research, the Economic Intelligence Unit’s Chief Economist said: “The Globe Shopper City Index – Europe sheds light on which European cities are best placed to take advantage of the continent’s reputation among international consumers. The findings show that the right balance between convenience, availability and price is essential for international travel shopping.”

Dame Judith Mayhew Jonas, Chairman, London & Partners commented: “We are delighted that London has been recognised as the principal shopping capital of Europe.  This research acknowledges that London’s unique and huge mix of retail is second to none ranging from luxury to high street, and boutique to bargain stores. These can all be found throughout London which is constantly evolving and has much to offer every visitor.”

Patricia Yates, Director of Strategy and Communications at VisitBritain said: “What fantastic news that London has rightfully been acknowledged as the best city for shopping in Europe.  We know what a tremendous draw our retail offer is for overseas visitors – whether they want to buy luxury brands or high street fashion.  Our new GREAT image campaign will build on this aspiration, targeting key cities around the world – from New York to Beijing – with our unmissable ads featuring shopping as one of our key themes. This is the moment to use all our assets to showcase Britain and ensure that 2012 and the key events such as the Diamond Jubilee and the 2012 Olympic and Paralympic Games cement London and Britain’s global appeal and grow the value of our inbound tourism to deliver revenue and jobs.”

John Penrose MP, Tourism Minister said: “This is great news.  The capital’s shopping experience – whether at Christmas or any other time of year – is second to none.  I am pleased to see this confirmed in Global Blue’s Globe Shopper City Index – Europe.  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 Mayor of London, Boris Johnson, said: "This is yet another ringing endorsement of the unique shopping experience that makes London a beacon for shoppers from all corners of the world."

"Next year will be like no other for London, kicking off with the Golden Jubilee quickly followed by the spectacular 2012 Games. I therefore expect the capital's retailers to see yet another bumper year on the back of the millions of visitors who will visit our great city for everything it has to offer, including the best shops and shopping districts anywhere on the planet."




Discover your ideal shopping city online

As of today global shoppers all over the world will be able to discover which is their ideal shopping city based on their own personal criteria by visiting Globe Shopper City Index at globeshopperindex.eiu.com. So whether they are Explorers, Perfect planners or Cool hunters, the Globe Shopper City Index will be able to point them in the right shopping direction. What’s more, they can share their findings with friends and family on Facebook and Twitter.

Whilst the Middle East as a region still accounts for the highest spend overall accounting for 28% of total sales in London stores compared to China’s 15%, China continues to boom with an unprecedented increase in traffic of 70% this year versus 2010. With an average spend that rose from £600 to £671 over the last 12 months, the Chinese are and will remain the titans in the international shopper league. Russia, at number three in the charts has grown 32% this year and Nigeria 34% whilst the United States is up 19%.

Top ten non EU spenders in London YTD:

Nationality
% of Total Sales in store
% Change Sales in store
% Total transactions
% Change in transactions
Current month ave. Spend (£)
Previous year ave. Spend (£)

Total
100%
33%
100%
29%
646
626

Middle East
28%
17%
21%
19%
851
866

China
15%
70%
9%
41%
1,058
872

Russian Fed
6%
29%
5%
30%
696
697

Nigeria
5%
31%
6%
29%
525
516

United States
4%
19%
5%
13%
516
490

Thailand
3%
54%
3%
41%
664
608

Hong Kong
3%
40%
3%
26%
692
623

Malaysia
3%
57%
3%
42%
645
584

Brazil
3%
80%
4%
69%
411
387

India
3%
19%
3%
18%
489
483

Other
27%
32%
36%
31%
489
485




Fiona O’Rorke, Katie Blake and Frances Madden

Rain Communications Ltd

54 – 55 Wilton Road

London SW1 1DE

Firstname.lastname@raincommunications.co.uk

Phone: +44 207 828 0118