By Michael Millar
Date: Tuesday 31 Jul 2012
Rather than herald a boom in shopping, it seems the Olympics has encouraged consumers to stay away from stores in central London.
Figures from research group Experian show that on Friday, ahead of the Olympics opening ceremony, 10.4% fewer people visited shops in the area compared to the same time in 2011.
This was followed by an 11.7% drop in footfall on Saturday, the first day of the Games.
However, there was a slight upturn on Sunday, when shopper numbers increased by 1.6% compared to the year before.
In Stratford in east London, where the Olympic Stadium is located, the number of shoppers fell by 7.2% on Friday compared to a year ago.
This was followed by a 7.5% drop on Saturday, off-set by a 12.6% jump on Sunday.
Retail analysts said the numbers were not surprising after repeated warnings that travellers should avoid central London if possible, due to possible congestion.
A spokeswoman for Experian said retailers should focus on the upturn seen on Sunday.
"Shopper attention may have been diverted on Friday and Saturday by the lure of the opening ceremony and the first events but by Sunday we see an uplift in footfall in London's East and West End, suggesting that over the next few weeks the Games will provide many opportunities for retailers to capitalise on," she said.
or share it with one of these popular networks:
You are here: news