The retail sector in the UK is currently enjoying a surge in sales thanks to an increase in international tourist spending. In particular, visitors from countries such as China, USA, Kuwait, Hong Kong, and the UAE are flocking to luxury fashion stores in the UK, leading to a significant boost in sales figures.
Interestingly, this uptick in sales comes at a time when tax-free spending in France is on the decline, with protests by the yellow vest movement impacting high-end shopping districts. Luxury fashion stores in the UK, on the other hand, saw a 10% increase in sales in February, with American shoppers leading the way by increasing their spending by a whopping 51%.
This spike in sales among international tourists highlights the UK’s continued allure as a premier retail destination in Europe, particularly for visitors with a penchant for shopping. US consumers, in particular, are displaying a strong desire to shop overseas, with the average transaction value reaching a three-year high.
Chinese tourists, known for their big spending habits, maintained their position as the top spenders in the UK, accounting for a 35% share of tax-free spending in February. The impressive 27% year-on-year sales growth among Chinese shoppers underscores their growing interest in shopping in the UK.
Overall, the steady improvement in sales figures over the past few months indicates that the UK is regaining its appeal as a shopping destination for international visitors. With key markets showing a significant increase in spending, the UK continues to thrive as a top destination for luxury and fashion shopping.
According to David Perrotta, UK Country Manager at Planet, the data suggests that the UK, along with Spain, is benefiting from a trend of tourists being less inclined to visit France due to ongoing protests. With international tourists contributing significantly to the retail sector, UK retailers can look forward to continued growth and success in the future.
For more information on shopping trends in the UK, please visit Retail Gazette. To learn more about tax-free shopping for tourists in the UK, check out Global Blue.
