Brexit is bringing European “shopcationers” to London to do their holiday shopping
Spanish and Italian shoppers are set to hit the streets of London in droves this weekend to bag bargains ahead of Christmas.
Since the EU referendum, the weak pound has made London a prime destination for "shopcationers", or people travelling from abroad with the intention to shop, new data suggests.
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As many as one in ten Spaniards and Italians who have booked to travel through Lastminute.com will be London-bound this weekend, taking advantage of Europe's Immaculate Conception public holiday, the online travel group said.
Compared to the weekend before, bookings for the holiday weekend are up 152 per cent for Spain and 83 per cent for Italy.
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Most shoppers are set to arrive Thursday and stay for about four days, Lastminute.com found.
The bargain-seeking visitors could provide an extra revenue stream that UK retailers should capitalise on, Alessandra Di Lorenzo, chief commercial officer of advertising and partnerships at Lastminute.com, said.
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Di Lorenzo said retailers should take advantage of this "lucrative" group before they even board the plane.
Targeting this segment with relevant, tailored ads as they plan their shopping trips can pay dividends. As well as inspiring this cohort of shoppers, brands should prioritise driving footfall in store through vouchers and discounts too.