The shopping bonanza is now an established part of the Christmas shopping calendar for London and, this year, Bond Street will join in the fun, meaning the main West End shopping streets of Bond Street, Oxford Street and Regent Street will all be traffic-free.
Last year, there was an average 15 per cent increase in sales for the district. And, this year, some 600 shops are getting involved. While the absence of traffic will undoubtedly bring in more shoppers, many retailers are also running promotions to drive shoppers into their stores.
The scheme, masterminded by the New West End Company, also brings entertainment to the capital. On offer for those Very Important Pedestrians are human rickshaws (how else can you travel from one end of Oxford Street to the other?), shopping butlers to carry bags on Regent Street and a concierge service on Bond Street.
Most retailers would agree that VIP day is important to drive sales, but also to generate enthusiasm for what is their most crucial sales period. With more than 40 million shoppers traipsing the West End in the festive period, retailers will roll out the red carpet to get them into their stores.
VIP Day shows how well the council can work with bodies such as the New West End Company and, if all parties are working together, how all parties can reap the rewards.
. Last week, it started the ballot for its five-year renewal as a Business Improvement District (BID). And as NWEC chief executive Gary Reeves steps down next year, a successful BID is needed before a new recruit will commit to the position.
There has been much scepticism about BIDs – some retailers have complained that they are just another tax to pay and yet another outgoing. And why should they pay for the upkeep of the location when landlords aren’t forced to pay anything.
Each BID should be judged independently on its own merits but the NWEC, while being special because it caters for the capital, should be applauded for its success over the past five years.
Not only has it masterminded events such as VIP Day and helped clean up the streets, it has also got landlords on board to pay voluntary contributions and has managed to persuade some doubting retailers of the benefits.
The NWEC BID is likely to succeed, but it is understood that some of the major retailers that were against BIDs anywhere have changed their views. Retailers such as Next and Arcadia, which previously ticked no to all BID ballots, are now thought to ready to tick yes to the NWEC.
The West End is the premier shopping location in the UK but for BIDs to succeed in other locations, they too should roll out the red carpet.
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