London fears loss of luxury shoppers to Paris and Milan


Joe Baker
Joe Baker
Senior Copywriter
Joe is a Senior Copywriter working on reports, news and analysis. Previously, he worked as a B2B copywriter, journalist and editor covering a broad range of topics, including technology, transport,… Read more
  • London is a major luxury shopping destination, but its status could be threatened by Paris and Milan, both of which are becoming increasingly popular with the world’s wealthiest shoppers.
  • Increasingly, luxury shoppers are choosing Paris and Milan over London, while Paris has become the top choice for luxury shopping in Europe, according to a new report from Reuters. 
  • The Parisian reputation for high fashion and luxury goods, as well as its robust tourist infrastructure, make it an attractive destination for tourists and wealthy shoppers.

London, a significant centre for luxury shopping, is experiencing a decline in shoppers due to competition from Paris and Milan, according to a new report from Reuters. 

Many luxury brands invest in European cities such as Paris and Milan to target their customers more directly. This has decreased the number of shoppers in London, as luxury shoppers choose to go elsewhere for their shopping needs.

A better selection of retail outlets, brands and overall experience, coupled with more favourable exchange rates, has seen Paris overtake London as the top choice for high-end shopping trips in Europe.

Consumers who are travelling abroad for luxury shopping trips should consider what money transfer services are available to facilitate their purchases.

Meanwhile, Milan is quickly becoming a go-to destination for consumers. The city’s chic boutiques, designer stores and high-end restaurants make it an attractive option for luxury shoppers, especially those looking to purchase high-end Italian fashion.

London is still a major destination for international shoppers, but with the growth of these other cities, there is a fear that London’s status as a top luxury shopping destination could be at risk.

London is also losing its competitive edge regarding prices. The city’s high prices make it a less attractive destination for luxury shoppers, who are often seeking the best value for their money.

To compete with Paris and Milan, London must continue to invest in its infrastructure and tourist attractions, and focus on providing value for money for luxury shoppers.

The city must also improve its customer service and offer a wide range of luxury goods to keep up with its competitors.

Are you considering shopping for luxury goods abroad? If so, look at our money transfer comparison tool for the best rates and fees to send money internationally.

Most Read

Use Our Currency Comparison Tool

Results are ranked in order of the best overall deal, taking into account transfer times, rates, fees, and customer service.

Editor's Choice is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.