Retail in London

Topics: London, Greater London, New York City Pages: 33 (9812 words) Published: July 5, 2013
Retail in London: Working Paper F International Comparisons of Retail March 2006

copyright
Greater London Authority March 2006 Published by Greater London Authority City Hall The Queen’s Walk London SE1 2AA www.london.gov.uk enquiries 020 7983 4000 minicom 020 7983 4458 ISBN 1 85261 842 6

Cover photographs © Macy’s, Zara and Hayley Madden This publication is printed on recycled paper. For more information about this publication, please contact: GLA Economics telephone 020 7983 4922 email glaeconomics@london.gov.uk GLA Economics provides expert advice and analysis on London’s economy and the economic issues facing the capital. Data and analysis from GLA Economics form a basis for the policy and investment decisions facing the Mayor of London and the GLA group. The unit is funded by the Greater London Authority, Transport for London and the London Development Agency. GLA Economics uses a wide range of information and data sourced from third party suppliers within its analysis and reports. GLA Economics cannot be held responsible for the accuracy or timeliness of this information and data. GLA Economics, the GLA, LDA and TfL will not be liable for any losses suffered or liabilities incurred by a party as a result of that party relying in any way on the information contained in this report.

International Comparisons of Retail

Contents
Executive summary ................................................................................................................ iii 1. Introduction........................................................................................................................ 7 2. Comparing international retail centres ................................................................................ 8 3. London’s retail offer ......................................................................................................... 14 4. International shoppers in London ..................................................................................... 18 5. The internationalisation of retailing .................................................................................. 25 6. Conclusions....................................................................................................................... 26 Acronyms.............................................................................................................................. 28 References............................................................................................................................ 29

GLA Economics

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Retail in London: Working Paper F

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GLA Economics

International Comparisons of Retail

Executive summary
This paper forms part of the wider GLA Economics study of retail in London. The aim of this working paper is to: • Compare retail in London with retail in other parts of the world, and if possible to compare London’s retail offer with the retail offer in other parts of the world. • Look at the characteristics of what might be considered ‘international retail’, in particular do people travel to shop, or shop when they travel? • Consider how London could improve its retail offer to be more internationally competitive. Comparing international retail centres For data comparability, Greater London is compared to the Ile de France region of Paris and its suburbs, and New York city. Although there may be other significant world cities and international retailing cities, these three cities are similar in size and in their national and economic importance. London has the smallest population of the three cities as defined in this study (7.4 million people compared with eight million people in New York city and 11 million in Paris (Ile de France)). There proportion of people employed in the retail sector in London (nine per cent of employment), is more than in the Ile de France (six per cent of employment) but less than in New York (12 per cent of employment). Retail property...
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