60% of Visitors Cite Deals as Key Reason for Capital Visit, Spending More
- Black Friday weekend surpassed 2019 levels
- 60% of visitors acknowledged Black Friday and Cyber Monday deals as a key reason to visit the capital
- 33% said they were likely to spend more due to the deals
- Footfall remained strong on Saturday 2nd December
- West End’s ‘Magic Days’ campaign returned with festive activities
- Consumer spending forecast up to £1.64bn over festive period
- Hybrid working patterns have led to 20% lower footfall in the last 12 months
Black Friday weekend saw a significant increase in footfall compared to 2019 levels, according to New West End Company’s data released on December 7th. Early morning shoppers contributed to the uplift, with many seeking early bird deals despite Elizabeth Line closures. A survey found that 60% of visitors cited Black Friday and Cyber Monday deals as a primary reason for visiting the capital, with one-third (33%) likely to spend more due to these promotions. Footfall remained strong on December 2nd, matching 2019 levels despite cold weather. The West End’s ‘Magic Days’ campaign, featuring festive entertainment and in-store deals, returned for three weekends in December. New West End Company forecasted consumer spending could reach £1.64bn during the holiday season, with domestic spend peaking on Black Friday and international spend on Boxing Day. Dee Corsi, CEO of New West End Company, noted that despite challenging economic conditions, the area’s resilience is due to exceptional experiences like physical retail and immersive leisure.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Black Friday weekend’s footfall, consumer spending forecasts, and the impact of hybrid working patterns on retail. It also includes relevant quotes from a source with expertise in the field.
Noise Level: 3
Noise Justification: The article provides relevant information about Black Friday weekend’s performance and its impact on footfall in the West End area. It also includes insights from the New West End Company CEO. However, it lacks a more in-depth analysis of the factors contributing to the increase in footfall and does not explore potential long-term trends or consequences of these events.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses consumer spending during Black Friday and Cyber Monday, which can impact retail sales and company revenues.
Financial Rating Justification: The article mentions the increase in footfall and spending during Black Friday weekend, as well as forecasts for consumer spending over the festive period. This information is relevant to financial topics such as retail sales and company revenues.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification:
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