Following up our blog about London being a ‘ghost town’ during the Olympics, there’s a good article on the BBC Business website that analyses how shops in London’s West End are doing during the Games. The West End in the capital’s premier shopping district, and during the first week of the event footfall was down. This is despite the fact that some sports are staged nearby – such as the beach volleyball in Horseguards Parade.
However, the triathlon was staged in and around Hyde Park on Tuesday 7th August, and this attracted hundreds of thousands of spectators. As a result there was a significant spike in demand in many West End shops – up 13.5% on the same day last year. The retail stores that have done best are vendors of luxury goods, and especially brands that are British, such as Burberry. Analysts expect this trend to continue, driven not just by spectators, but also the atheletes themselves. As more and more competitors complete their event, they are expected to take time out to relax and shop for momentos of their time in London.
Source: BBC News