The UK business press had been even more optimistic about recovery that its US counterpart, so the less than cheery news about retail sales in London is a blow to the view that the worst was indeed past.
One of the reasons shopping had held up so well to date was the English capital’s role as a mecca for foreign shoppers, particularly given the fall in the pound. Its rally has served to expose the weakness of domestic demand. Now admittedly there are some specific factors that make this report look worse than it might otherwise, such as Ramadan falling in August this year, which curtailed visits from the Middle East.
From the Independent:
London’s retailers will today create shockwaves by posting their worst monthly sales for four years, ahead of results this week from some of the UK’s biggest store groups that will provide a health check for the high street leading up to the critical Christmas trading period….
The British Retail Consortium said that like-for-like retail sales in Central London plummeted by 5.9 per cent in August – the first month they have fallen this year after seven months of growth, which has hitherto been partly supported by foreign shoppers taking advantage of the weak pound. Retail sales fell by 0.1 per cent outside of the capital, which was the first time they had been ahead of London’s this year, although the gap had previously been narrowing…
Stephen Robertson, the director general of the BRC, said: “These results don’t suggest the recovery is underway. This is the lowest London sales growth since August 2005.” He added: “Central London footfall saw the biggest drop for over a year and a half. The pound is less weak that it was, eroding London’s appeal for overseas visitors. Like domestic shoppers, tourists are also more cautious.”
8 comments
Comments are closed.
I think this is only the canary in the coal mine, ahead of the disaster that Christmas sales are sure to be in that pathetic little nation of degenerate morons called the United Kingdom.
Good luck not starving to death next year, you arrogant British alcoholic losers!…LOL
Vinny G.
Thanks Vinny; maybe the calories in the alcohol will help.
The problem with Central London is that it is way overpriced. I was in London in mid August and it is just not worth it. Paris is a far better destination. Better food, better sights and cheaper. I would never, ever choose London as a tourist destination again.
I think London needs a little more time to understand this. Once the problem is understood (that London is overpriced) then rents will start falling, things will get cheaper and foot traffic will return.
I spent quite a bit of time in England, and at one point I even worked there as a doctor in their loser National Health System. So I know the place well. England and London in particular are a total waste of tourist money.
Last year I was there for over a month, during the holidays. The shops were empty, all “High Streets” across the UK were desolate, and retail chains were going belly up left and right. And, for good reason. A cup of coffee costs upwards of $10, not only in central London, but almost anywhere in the UK. Even Starbucks feels compelled to charge $12 for a cappuccino in England.
Regarding food being better in Paris than in London, my question is, “What food in London?” The British have no cuisine tradition whatsoever. They can’t even cook Fish and Chips right, it seems. No wonder they drink so much alcohol – probably to kill the bad aftertaste of burnt cheap oil. Even McDonalds is better food than your average restaurant in the UK. During most of our time there, my wife and I ate at a TGI Friday’s (American joint) near our miniature apartment (homes are really tiny in England) simply because everything else was crap. And, of course, a steak at the TGI Friday’s in London is half the size and twice the price of the same thing in Chicago. Even on London’s famed Oxford Street there are hardly 2 or 3 restaurants that are halfway decent where food is edible, but they would likely set you back $200 to $250 for dinner for three people. Our 3 year old daughter was also affected negatively by our stay in England, as at the time she had lost a lot of weight and was becoming quite unruly. Of course, once we returned to the US her weight and psychological state recovered quickly.
Considering the average British salary is significantly lower than that in the US, it’s ridiculous how the British accept to live in such as rip off society. But you won’t hear any complaints from the British. This once again proves my theory that most Western Europeans are a bunch of brainwashed morons who have come to actually believe their own BS about how they live in paradise and we all should now rush in to emulate it.
Yet another point I’d like to make here pertains to that saying, Anglo-American, I keep hearing here? What Anglo-American? America is a lot closer in lifestyle to continental Europe than to England. Maybe the crooks on Wall Street feel some kind of affinity with their counterparts in the City, but there are no other similarity beyond that. Even the English now spoken across most of the UK is so regionalized, so perverted, it hardly resembles English at all. American English is closer to the Queen’s English than that spoken by 75% of people in the UK. They’re all a bunch of Liverpoolized scousers now…LOL
Anyway, I always recommend people stay away from that decrepit nation called Britain. Paris and France are always a better travel option. And, as far as food is concerned, my numero uno remains Barcelona. I will always return to Barcelona, but I’ll try to avoid London like the plague.
Vinny G. – “the unbeatable think-tank of one”
PS — I hope my little posting here will deter at least 10 people from visiting London, thus further agravating England’s economic problems…LOL
Vinny,
I hate the English, but I never have resorted to fabrication to support my bias… There are plenty of good reasons out there to take the piss, no need to make up new ones.
Sincerely,
A Douche Bag