According to data from the Knightsbridge Partnership, iconic retailers and hospitality businesses in the area, including Harrods, The Lanesborough, and Burberry, saw shopper numbers approaching levels seen in 2019 during the first week of the post-Christmas sales.
The visitor numbers were 38% higher than during an average week, and sales figures also increased week-on-week. Footfall for Knightsbridge was 45% higher than the same week the previous year and a fraction of a percentage below the equivalent period in 2019. The news is especially welcome in view of the lack of strong Black Friday sales, as the Christmas period can account for up to 33% of sales across the entire year, and is therefore a vital contributor toward the sustainability of retail and the wider high street.
The Knightsbridge Partnership, a group representing businesses in the area, regularly collects and analyzes retail data to improve the local business environment. According to their data, footfall in Knightsbridge was 45% higher than the same week the previous year and only slightly lower than the equivalent period in 2019. Additionally, sales figures showed an increase from week to week with visits from shoppers up 18.8% compared to the previous pre-Christmas week, which stands out in contrast to a London-wide trend of -3.4%.
On the opening day of the Boxing Day sales, more shoppers visited Knightsbridge than any other day that week. This trend also defies national trends, as average footfall across UK destinations was 14.3% lower during the opening week of the Boxing Day sales compared to the week leading up to Christmas Day.
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This year’s Boxing Day sales have so far outperformed our expectations for this year. We were delighted to see so many visitors to the store over the final weeks of 2022, and look forward to welcoming our customers in the new year. Michael Ward, Managing Director, Harrods
In 2022, over 32 million people visited Knightsbridge, supported by the refurbishment and transformation of key destinations such as Hans Crescent and Brompton Road with new lighting and street-scaping efforts. These efforts by the businesses in the Knightsbridge Partnership have attracted new developments such as a new state-of-the-art Apple Store, the return of Burberry’s flagship store, and new restaurant openings.
Steve Medway, CEO of the Knightsbridge Partnership said today: ‘The figures are a pleasant surprise in view of the winter’s impediments so far. Transport strikes, cost of living and snowfall do not appear to have dampened Christmas spirit.’
‘We do have to remember, though, that sales need to be sustained over the year and we will still be looking to support Knightsbridge during the course of what we expect to be a challenging year.’
‘While comparisons with UK shopping destinations put Knightsbridge in a good light, we need to bear in mind that its peers are also international destinations like Paris and Milan which offer incentives, including tax free shopping, to shoppers. We still need the Government to think about how Knightsbridge can compete with those markets. Knightsbridge as a diplomatic quarter, set in 5000 acres of parkland with the Science, V&A and Natural History Museums all nearby, has many advantages to offer. Shoppers, retailers and hospitality-alike are showing their support.’
‘The PM’s commitments on halving inflation were welcome; more consumer spending power should help to sustain the retail renaissance that Knightsbridge is experiencing, which has benefits for the wider business community. Yet for the international shopper, the return of tax free shopping would put us back in the game versus international shopping destinations.’
Stuart Geddes, Managing Director, The Lanesborough said today: ‘December was an exceptional month at The Lanesborough, we exceeded all expectation. Our rooms and suite business was very strong, with a lot of last-minute suite bookings for the actual Christmas Weekend. A sold out Festive Afternoon Tea and restaurant throughout December. Our New Year’s Eve program in The Lanesborough Grill and Library Bar were also fully booked, it was a glamorous buzzing atmosphere. All our guests were in wonderful spirits, enjoying The Belgravia and Knightsbridge neighbourhood and judging from the shopping bags and boxes coming through our doors we expect our neighbours in retail had a super month too.’
