Christmas shopper numbers in Knightsbridge are forecast to surpass pre-pandemic levels for the first time and total spend will jump, according to an organisation that represents retailers and hotel and restaurant owners in the luxury district.
The Knightsbridge Partnership, a business improvement district, said the area which is home to upmarket department stores such as Harrods, Harvey Nichols and a host of designer brands, enters the festive period on firm foundations.
Footfall between January to October was up on average 27.7% each month from a year earlier, although that was flattered by very strong performances at the start of the year in contrast with early 2022 when comparatives were much weaker as the pandemic was still hitting high streets.
November and December footfall is anticipated to improve 2.8% and 3.3% respectively, which is ahead of last year and what was recorded in 2019.
The Partnership said analysis of previous trends and the figures, which was compiled by Diane Wehrle the founder of Rendle Intelligence and Insights based on MRI OnLocation and Beauclair data, suggests that the higher visitor numbers could lead to annual sales hikes this and next month of 20% and 55%.
However it also pointed out that average transaction values between January to October were down 7.4%.
Steven Medway, CEO of the Knightsbridge Partnership said: "We have seen the return to London of high spending international shoppers this year, undoubtedly supported by a weaker pound than in pre-pandemic years, and this has enabled retail and hospitality to bounce back."
He added: "At the same time, however, its success could be even greater if growth measures such as the reintroduction of tax-free shopping were implemented, looking to the experience of rival markets on the continent.”
Wehrle said: “Footfall and sales in Knightsbridge are already strong, beating key benchmarks, which puts the district in a very positive trading position for this Christmas. The forecast uplifts in footfall and sales are in line with past trends, which have seen significant increases in performance in what is genuinely a “golden quarter” for Knightsbridge.”
