Sterling Slipped: Shopping Paradise Began To Crowd Again.
London, UK - will you cross a half of the earth to buy a handbag or a coat? If you really like it, or 20% cheaper, you may really do it.
Nowadays, the price in Britain is very cost-effective.
After the decision to break away from the European Union, the exchange rate of the pound in the country's currency dropped significantly.
It's a paradise for luxury consumers with foreign currencies.
"Luxury market is not the most competitive, but also one of the most competitive markets."
Anusha Couttigane, an analyst at Kantar Retail, said: "in fact, the sharp decline in the pound has made the retail market attractive.
Let consumers who have previously been deterred by high prices go here.
This has created a wave of prosperity and the booming demand for British business.
Since the June 23rd referendum in Europe, the UK has fallen nearly 20% against the dollar due to the deepening economic uncertainty in the UK.
This means that the purchasing power of consumers increases, while tourists want to buy and buy before the marketers raise their prices.
This year's 30 year old Amy Chang is from China. He went to London to attend his sister's graduation ceremony this week, and bought a trench windbreaker for Burberry.
"I have noticed this product for a long time, but it has always been too expensive," she said. She looked at the window of Burberry store in New Bond Street in the high-end shopping center in London.
"But now, the price of the UK is actually much cheaper than that of China, so I finally started."
Since the June 23rd referendum,
British economy
The UK has slipped nearly 20% against the dollar in the wake of uncertainty.
This means that the purchasing power of the United States is increasing, while tourists want to buy and buy before the price increases.
Julie Deane, founder of Cambridge Satchel Co. (Cambridge package), said the decline in the pound has had a "huge impact" on the decline of tourists.
"They come to check the exchange rate, predict how much money they will spend, and many times that means they will buy the two package," she told BBC: "sometimes it's fifth and sixth packages."
"Luxury market is not the most competitive, but also one of the most competitive markets."
Anusha Couttigane, an analyst at Kantar Retail, said: "in fact, the sharp decline in the pound has made the retail market attractive.
Let consumers who have previously been deterred by high prices go here.
This has created a wave of prosperity and the booming demand for British business.
In addition, many products that are available only in the UK do not accept global shipments, which makes those fashionable consumers join the ranks of cheap ones, Couttigane added.
Burberry said this week that sales in the UK in the first three months of September 30th increased by at least 30% over the previous year.
Sales of bags are especially strong, especially Bridle Bag inspired by horsemanship.
Couttigane said the package was first sold in the UK and has not yet been launched around the world.
"We saw the rising popularity of this package, and they were there.
Local market
I can't buy this bag, but I really want it. "
Couttigane said.
Not only handbags, perfume, clothing and cosmetics also occupy a significant place on the shopping list of tourists, but the report of consumer research group Mintel shows.
Joanne Milner, chief executive of Garrard, said that the number of Chinese consumers visiting the brand website rose by 75% after the EU referendum.
The sales of the brand in Harold department store also recorded an increase of 1000%.
The brand is known for the production of Princess Diana's engagement ring.
"This is not just happening in Garrard, but in London as well."
Milner
"Basically, it's good for the UK business in the long run, especially as a London place for luxury shopping in Europe, and in the past, it was in Paris to compete."
Luxury shoppers like that little vanity.
So if you can show off that brand, or show a little connection with royalty, that's even better.
What's better is that they like to buy products with travel stories.
"Chinese people love handbags," Chang said.
Today, Britain is the cheapest place to buy luxury goods globally. According to a questionnaire from DDT, 64% of the products sold in the United Kingdom are lower than those in the United States, Britain and France.
For example, Louis Vuitton's canvas Speedy 30 is priced at US $837 in the United Kingdom and 1117 in China, DDT found.
Enthusiastic shoppers, especially shoppers from the Far East, are heading for London before retailers raise their prices and offset the decline in sterling.
Visit Britain, a state-owned tourism organization, said that the number of flights from China to Britain in the past three months increased by 24% compared with the same period last year.
Most Chinese tourists show great interest in British brands with technological and historical value, and enjoy the delicacy of London shops, and the discount shopping districts like Hackney Walk in London and Bicester Village in Oxford county.
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