Americans lured to London by cheap pound
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The number of Easter weekend shoppers in London's West End jumped 15% as sterling's exchange-rate drop helped attract American and European buyers, according to New West End Co, which represents 600 retailers along Bond Street, Oxford Street and Regent Street in London. Shoppers spent £130m from March 29 through to April 1 and US citizens were the largest group. Last week, the British Travel Agents' Association reported a "surge in last-minute bookings to warm destinations" by Britons. Buyers from the Nordic region also flocked to the main London shopping district as they sought out large-format flagship stores of retailers such as luxury chain Burberry Group and youth-fashion store Top Shop not available domestically. The average American spends six times that of the average UK shopper in the West End in the course of the year, while Middle Eastern and Chinese consumers rank at the top in average money spent per person because of luxury purchases, the company said.