Feel the retail force of the Chinese horse
High-end retailers will have NEIGH worries this month, thanks to an influx of Chinese shoppers spending their New Year holiday at the shops. Luxury brands such as Burberry, Omega and Fortnum and Mason are set to hear the sound of galloping Chinese tourists, eager to snap up some bargains.
Chinese visitors to Britain were responsible for a 14% rise in UK spending over Chinese New Year in 2013, and they’re not going to New Look, either. Designer handbags, jewellery and watches are the big draw, with Chinese visitors last year spending a whopping £741 per transaction last year.
Fortnum and Mason have even prepared their sales team by organising cultural training, and recruiting staff that can speak Mandarin.
Meanwhile, stores in the London Luxury Quarter (which incorporates 42 streets and 70 shops in Central London) are using special displays, installing Union pay payment services and hiring staff to specifically target the Chinese market.
So retailers can saddle up and watch all that money from the East flow right in, while domestic customers can only afford to stand outside, gaping at all those lovely handbags and eating a Chow Mein Pot Noodle in the rain.