London is classed as a world city and, as such, is a hotspot for international retailers that want a slice of its reputation.
This is the assertion of the British Retail Consortium (BRC), which stated the retail sector in the UK is "first-class", helped by the fact the market is competitive, and so organisations have to work harder to be noticed.
Spokesman for the organisation Richard Dodd said retailers are constantly innovating in order to attract customers through their doors.
He explained: "We have got a very vibrant retail market here and it is a place where any retailers entering the market have got to really be at the top of their game, because we have that very successful and attractive retail mix.
"Britain is a big focus for international shoppers, so spending by overseas [customers] is tremendously important and obviously the focus of that in the UK is London."
As a result, when retailers from abroad make plans to expand, London will be high up their shortlist.
The comments follow a new report from Jones Lang LaSalle (JLL), which conducted a survey of 55 cities in Europe and discovered London is the top cross-border retail destination. It beat hubs including Paris, Moscow, Madrid, Milan, Prague and Rome.
Meanwhile, the UK came second in terms of its export of retail formats, while its capital attracted the largest number of international retailers.
It is not just the retail market which has enjoyed a boost of late, but also London offices
JLL published a report last month which noted London was the most active city in the world last year for commercial property investments
. The capital witnessed $24.3 billion (£15.4 billion) in transactions, a 15 per cent hike on 2010 and a large proportion of the total $410.6 billion of deals made.
Posted by Sarah Dudley
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