Luxury retailers hope Chinese new year tourists will leave them crowing
Mon 30 January 2017
The Guardian – Jace Tyrrell, Chief Executive – As the year of the monkey gives way to the year of the rooster on Saturday, Britain’s retail industry is hoping for more visitors from the world’s second-largest economy. Flight bookings from China to the UK are up 88% on 2016 for the Chinese New Year holiday period, which runs from 18 January to 1 February, according to market research firm ForwardKeys.
The New West End Company, which represents retailers on London’s premier shopping districts of Oxford Street and Regent Street, said sales to Chinese shoppers were up 121% year on year in the week ahead of the main holiday period.
“To put this into perspective, domestic and European spend in the same period were up by just 10.2% and 12.6% respectively,” said Jace Tyrrell, chief executive of New West End Company.
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