'Brexit Tourists' Exploit Weak Pound to Boost UK High Street Sales

23/01/2017

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'Brexit Tourists' Exploit Weak Pound to Boost UK High Street Sales

Throughout the festive season, large groups of 'Brexit tourists' took advantage of the weak pound, resulting in an increase of spending on foreign credit cards by 22%.

The increase in high street shoppers results in more theft, as explained in our article The Season of Goodwill and Theft, which increases the pressure put upon store security guards. With Cordant Security placing tens-of-thousands of security guards in high street stores across the country, our guarfd had to be vigilant at all times.

Our security personnel receive comprehensive training including nationally accredited qualifications specific to operating within a retail environment to ensure they are as qualified and skilled as possible to deliver a proactive and effective security.

Tourists from Hong Kong, the United States, the United Arab Emirates and China were the main contributors to the massive £725 million sum that was spent throughout the period. Wordplay, the company who released this data, put the rise on spend down to the decrease in value of the pound against other currencies.

With a growing number of UK consumers doing the majority of their shopping online, the foreign shoppers were a welcomed sight for many retailers looking to balance their books with the tourists mainly visiting the high street.

Brendan Musgrove, MD of Cordant Security said: 'I am pleased with the performance of our guards during the festive season. With an increase of our customers, the threat of theft heightened, meaning that our guards had to cope with the heightened pressure of ensuring the safety of our clients' premises'.