Hammerson reports spurt in luxury shopping ahead of Christmas

UK’s retail property specialist Hammerson has witnessed a distinct spending pattern emerge in the run up to Christmas with consumers spending more on higher priced presents. The company said in a statement that customers are indulging in luxury watches and diamond jewellery with Centrale in Croydon and Bullring in Birmingham seeing a strong demand for high-end timepieces such as Rolex. Other luxury items in demand include handbags from Michael Kors and Marc Jacobs at Dundrum in Dublin. At The Oracle in Reading, best sellers included premium carat single diamonds, with increased demand for exclusive diamond jewellery sets.

Commenting on the recent Christmas trading, Mark Bourgeois, Hammerson’s Managing Director UK & Ireland, said in a statement: “It is encouraging to see an upbeat attitude towards spending on gifts during the all-important festive trading period. It seems there has been a marked change in consumer mind set especially towards jewellery and luxury watches, not solely representing a very special Christmas gift for loved ones, but also purchased as investment pieces.”

Dip in temperature has also led the shoppers to spend on cashmere jumpers and gift sets. The company added that technical outerwear brands proved to be top performers, with Union Square in Aberdeen selling out of The North Face Thermoball jackets, and at Highcross in Leicester, consumers spending on Timberland’s premium coat collection. Faux fur jackets have also been flying off the shelves, with Silverburn in Glasgow and Brent Cross in London seeing a surge in demand for these winter warmers, the company adds.

Hammerson further states that toys and games, and sport and outdoors have also emerged strong amongst the best performing categories in the run up to Christmas.

Picture:Hammerson website