New Bond Street is buzzing. It's just a day after it emerged that the British economy had contracted in the final three months of last year but the tills are ringing and shoppers are laden with bags. Sometimes you catch a smattering of English but it's more often Arabic or Mandarin.
These affluent visitors rave about shopping in London: it is "perfect", "marvellous" and "heavenly". The statisticians agree: in November, the Economist Intelligence Unit named London shopping capital of Europe.
At this time of economic gloom, it is providing a much-needed boost for London's plushest shops, with tax-free spending by tourists climbing 30 per cent in the past year. British brands are among the most desirable. Like-for-like sales at London-centric Burberry rose 13 per cent over Christmas, while at handbag-maker Mulberry, they jumped 35 per cent.
Luxury retailers are doing everything they can to make these visitors feel welcome. Almost two years ago, Selfridges became the first major UK store to accept the Chinese debit card UnionPay - now its department store rivals have caught up. Staff who speak Mandarin are the most sought-after, while Liberty even trains staff to take credit cards with both hands, in the Chinese style.
But it's more than just the Chinese: London is still a hit with Middle Eastern and Russian shoppers and is attracting an increasing number from oil-rich Brazil and Nigeria.
"We used to be so reliant on Americans," says King-of-bling jeweller Theo Fennell. "Then it was the Japanese and Americans, then the Middle East. Now, it's increasingly about the BRIC countries [Brazil, Russia, India and China]. It maps the shifting world order - and we're very grateful they're coming here."
The Chinese
The "Peking Pound", born out of a booming Chinese economy, has never been more keenly courted by London stores. Some 110,000 Chinese shoppers visited the UK last year - a number expected to double by 2015.
The "Peking Pound", born out of a booming Chinese economy, has never been more keenly courted by London stores. Some 110,000 Chinese shoppers visited the UK last year - a number expected to double by 2015.
Devoted to expensive shoes and accessories, Chinese shoppers often jet into Heathrow in large groups and with almost empty suitcases.
Accomodation is not such a priority: hoteliers say they often opt for three- or four-star hotels rather than five-star so they can spend more on goods to take home.
They are here to avoid the hefty taxes on imported goods in their homeland but authenticity is also a factor: the Chinese like to buy in the country of origin - Burberry in Britain or Chanel in Paris.
Yun Fan Yang, 32, who works in the hotel business, was shopping with her family and a friend: "This is my second time here. We love Harrods, Esprit and Burberry - there is nowhere better to shop than London."
Yun Fan Yang, 32, who works in the hotel business, was shopping with her family and a friend: "This is my second time here. We love Harrods, Esprit and Burberry - there is nowhere better to shop than London."
China is the only luxury market where men spend more; they are largely responsible for storming sales of Burberry's man bags. Yun Fan's father, Chang Ling Yang, is one of these male-label lovers: he tells me proudly that his trousers are from Hermes.
On their shopping lists: As well as shoes and handbags, status items such as the classic Burberry trench and Patek Philippe watches are popular. There is still a heavy emphasis on big-name trusted labels. Craftsmanship is also a major selling point: Theo Fennell says his Secret Garden ring has been a huge hit with the Chinese.
Their top time to shop: Now, in the two weeks after Chinese New Year.
Average transaction in the West End: £1,310
The Middle East
Affluent tourists from the Middle East have long been among the biggest spenders in London but retailers say the Arab Spring encouraged even more to flock to London last summer.
Affluent tourists from the Middle East have long been among the biggest spenders in London but retailers say the Arab Spring encouraged even more to flock to London last summer.
On their shopping lists: Jewellery and watches. In the mid-Seventies, shoppers from the Middle East opted for more ostentatious pieces, choosing the brightest gold. Michael Wainwright, managing director of the jeweller Boodles, says this has changed: "Their taste is far more sophisticated than people give them credit for. They want different brands - they are not just interested in following the herd."
Their top time to shop: July and August - they come to escape the sweltering heat of their homelands.
Average transaction in the West End: Saudi Arabia £1,974, Kuwait £1,780, United Arab Emirates £1,267.
Nigeria
Nigeria's oil industry is boosting the pockets of an affluent elite who are increasingly coming to London to spend that cash. In February last year, sales to Nigerians were up 50 per cent in London shops on a year earlier, while overall in 2011 Selfridges says their spending was up by over a quarter and that Nigerians have been among its top 10 overseas shoppers for the past five years.
Nigeria's oil industry is boosting the pockets of an affluent elite who are increasingly coming to London to spend that cash. In February last year, sales to Nigerians were up 50 per cent in London shops on a year earlier, while overall in 2011 Selfridges says their spending was up by over a quarter and that Nigerians have been among its top 10 overseas shoppers for the past five years.
On their shopping lists: Suits and formalwear but also jewellery, cosmetics and childrenswear.
Labels include Paul Smith, Gucci, Prada, Chanel and Rolex while Vertu phones are a popular purchase. They are happy to buy across the price spectrum: Debenhams has started putting signs up in their main language, Hausa.
Their top time to shop: all year round - a consistent presence in our stores.
Average transaction in the West End: £1,648
Brazil
Like Nigeria, much of Brazil's rapidly expanding wealth comes from the oil industry. It is one of the fastest growing nations at Selfridges: although Brazilians are not yet in their top 10 nations of "super-shoppers", sales are rising rapidly - up 30 per cent last year on 2010.
Like Nigeria, much of Brazil's rapidly expanding wealth comes from the oil industry. It is one of the fastest growing nations at Selfridges: although Brazilians are not yet in their top 10 nations of "super-shoppers", sales are rising rapidly - up 30 per cent last year on 2010.
Leila Goncalves, a 46-year-old dentist from Rio de Janeiro, says: "I come here all the time - five times in the last two years. London is the best place to shop." Her favourite brands included Burberry, Ballantyne cashmere, Molton Brown and stationery maker Smythson.
On their shopping lists: Fashion and accessories - especially anything sexy, body-conscious and colourful. Brands including Stella McCartney and Cavalli are popular with Brazilians, but so too are Juicy Couture, All Saints and designer denim labels. They love heels, especially Louboutins, Chanel and Dior, and top quality handbags in butter-soft leather, especially Mulberry (above left), Gucci and Fendi.
Their top time to shop: all year round, but with a slight rise in the summer.
Average transaction in the West End: £988
Russia
Despite their native economy struggling, wealthy Russian visitors splashed out record sums in Selfridges over Christmas. Their festive spending was 20 per cent higher this year than last.
Despite their native economy struggling, wealthy Russian visitors splashed out record sums in Selfridges over Christmas. Their festive spending was 20 per cent higher this year than last.
On their shopping lists: Designer shoes, fine jewellery and watches. Being decked out in the latest trends is a show of status for many rich Russians. Popular labels with Russian women include Jimmy Choo, Christian Louboutin and Pucci, while men opt for classic Italian tailoring such as the suitmaker Canali. Unsurprisingly, they are also top consumers of vodka and caviar. On jewellery, Theo Fennell says the Russians are keen on the most theatrical and abstract pieces.
Their top time to shop: the long winter holiday, especially the run-up to the Russian Orthodox Church's official Christmas Day on January 7
Their top time to shop: the long winter holiday, especially the run-up to the Russian Orthodox Church's official Christmas Day on January 7
Average transaction in the West End: £988
Spending figures from Global Blue
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