Same here my monthly outgoings have doubled since 2019. My wages haven’t doubled and if you take the extra income tax into consideration they would have to more than double.
If you think that the residents & shoppers of Mayfair have no ‘disposable’ income then you need to get out of your house more ! I saw someone in Fortnums last week spending £10,000 on perfume 😅
Inflation is everywhere in the world. The obvious reason is the general decline as a result of Brexit. Why this lady keep on talking of Europe? One of the most expensive streets in Europe and so one. You are not a part of Europe anymore.
It’s happening in retail worldwide. If stores don’t have customers for their goods and services, their done. Prices for products are higher. Real estate is higher. Rents are higher. Taxes are higher. Food is higher. The consumers only have limited disposable income. After they buy food there’s not much left for anything else.
well, sort of. Online business and change of buying habits are affecting shops in streets, but London is suffering from this at a far higher and faster rate. I live near Frankfurt and a lot of shops have given way to restaurants and places that aren't so badly affected by online ordering, but you don't see anywhere near as many closed places here as you see in this vid of London. The UK is suffering and is also FAR less attractive since brexit. That has really accelerated decline in the UK.
@@lisawins”Magnificent Mile” not miracle mile and it’s not nearly as deserted as Bond street at all. The US is not comparable to Britain. Researchers say if you take out London, the rest of UK is like Mississippi. That is very deep.
When I first moved to London from Rome 10 years ago my mom would come and visit me around Christmas time and just for fun we would go to all the posh stores. We couldn’t afford it but it was a fun activity. One major difference I’m noticing is that a lot of independent designer boutiques that used to be around aren’t there anymore, it’s sad!
@@Sandro-ij7telol 😂 people are not buying expensive things nowadays because most of them are buying them either from online or not buying them at all. People are changing. Stop blaming others religions bro. Even as an atheist I will never mock Christianity or Islam or Hinduism.
Rodeo Drive in Beverly Hills is dealing with the same thing. It’s due mostly to the fact after COVID people realized how easy and convenient it was to shop online. You don’t need to leave your living room, returns are easy, shipping often free, returns are free. Or do you pay to park, deal with rude customer service, and pay 20-25% more to pay for top tier rent. This is happening in EVERY large city in the more luxury shopping districts. They have almost all completely closed, or paired down so much you don’t recognize the area.
I shop down this street less and less now, the rudeness and snobbery from staff is unnecessary and off putting. I tend to shop in Harrods or Selfridges now because the staff are helpful and have time for you. Thanks Hannah.
Its the same in germany. Usually its bored staff who have bad life and try to mock the rich or people having money buying rich stuff. The are just angry staff.
People with money are targetted as there is no police and they do not whant to be mugged or stabbed pluse they can't park there 4 by 4 or rollers anywhere close to these places
Walking around with a bunch of designer shopping bags is like having a big neon siign over your head saying rob me and if you have a fancy watch on displaygood chance you will be followed home. Wecome to London 😮
This seems to be happening everywhere Hannah. I noticed this particularly in Paris last fall. My son and I walked the length of the Champs-Elysee from the Etoile down to the Place de la Concorde. Every second or third store was closed or wrapped in scaffolding being revamped or repurposed. Very much not as I remembered from my last visit. On a brighter note it's always a joy and a pleasure to spend time in your company, you are so engaging. Also, I notice your subscriber count is climbing rapidly to the 200K mark. Last time I looked it was 194k, now 197K! In just a couple of weeks! You'll soon be over that next hurdle....You GO girl! 🥰🤩
@@fancynancymacy Paris has a wealth of areas with independent stores - perhaps you didn't go to the right places. Palais Royale - for instance or around the Bon Marche'.
I left London three years ago after 47 years of living there. Even before Covid, established and affordable shops and restaurants were closing down due to extreme rent and rate hikes which successive governments did nothing to prevent. Even characterful old markets, like Spitalfields, became commercialized and lost their original character. The Piccadilly Cafe, which had existed since the 1950s and was used by TV programme directors because of its authentic Fifties decor, closed down. The Stockpot, where you could get a three-course pre-theatre meal for a tenner, followed suit. The same happened with the Vintage Magazine Shop and my favourite restaurant near Oxford Circus, Ozer. Oddball shops in the 1970s where you could browse and find something nostalgic or quirky were all replaced over time with generic big name shops which you could find in any high street. Why would you want to go to the West End when your local main street had the same boring shops? The cinemas around Leicester Square replaced their big screens with smaller ones but retained their high prices. So, central London was dying even before the pandemic and the trend towards working at home. I'm retired now and living in Northern Ireland but former work colleagues in London only go into work twice a week at most so employers' buildings are just giant albatrosses around their necks. I bet they can't wait for their contracts to expire so they can move out. That said, even in a sleepy Irish town shops are closing. There are more charity shops than anything. The only new shop to open in two years here was (appropriate I thought) a Funeral Director! Dying never goes out of fashion.
London is one of my all-time favorite cities! I served in the USAF for 21 years and was all over the world. I was stationed in England from 2001-2004. At that time I was single and in my 20s. My friends and I used to take the train from Cambridge down to London every chance we could. Used to go down to Picadilly, Trafalger, Bond street, and Covent Gardens to cruise around and window shop. I always wanted to get a custom made suit from a shop on Savile Row. The summer of 2003, my mom came to visit and I took her to Fortnum and Mason to get her some tea (she wanted the same tea that Queen Elizabeth drank) and Harrod's. Sad to see some of those shops leave, but Bond Street still looks good compared to some cities in the U.S. I'm originally from Chicago but I live in Texas now. Chicago's once revered shopping district the Magnificent Mile looks like a war zone now. Anyhoo, thanks for the video; glad it came on my feed. Cheers Hannah!
I own a business in the States & I can tell you, the biggest expense that is becoming a potential killer is payroll & increasing lease expense. Basically just the cost of doing business will eventually no longer make financial sense. Thank you Hannah 💜💜💜
40 year So. Cal entrepreneur - I would never start a new business in California with employees due to regulations, BS laws, taxes and potential lawsuits from workers. Forget it!
@@C.E.Thomas1952 Forget about running a retail chain in many cities in America. They've decriminalized shoplifting in many cities so it's a free-for-all for anyone who wants to help themselves.
I've noticed a ton of 'don't buy luxury brands' videos on YT lately. I think times are changing. Maybe people finally come to realize that they got scammed out of their money by LVMH and Co for years.
Don't buy labels and fashion - buy quality and style. For gentlemen Jermyn Street is going to provide you with quality items that will still look good in 10, 20 and 30 years. New Bond Street is full of “luxury” fast fashion for people with little taste IMHO.
Absolutely, I think considering the times, a lot of people are learning that trying to look rich is making them poor. I certainly wouldn't walk around London with anything nice. What's the point, otherwise you're more likely to get robbed. I don't want to get political but the mayor of London and police clearly have priorities other than crime on their agenda. Criminals are being given free reign while if we lift a finger to defend ourselves, we'll get the full weight of the law. I guess it's this woke nonsense way of looking at the world which is to blame.
Brick and mortar are hurting but I think online shops are going to be in for a rude awakening as reality continues to pummel upper-middle to lower income brackets; housing/groceries/heating costs are simply becoming more top of mind and even giants like Amazon will come to find what they sell are just disposable conveniences and not necessities or meaningful. Doom and gloom comment aside - thank you for showing off London. Your down to earth commentary is always something I look forward to.
Agree. Have travelled to Europe and within the US. Housing and necessity prices have skyrocketed EVERYWHERE. Less money for extravagant purchases. Saw more people just giving up and living on the streets. Maybe just the same percentage, but as the population grows, perhaps the homeless population is increasing along with population as well. Unfortunate truth.
Thanks for this! I love your honest assessment of everything you cover. In answer to your query, there are many variables as mentioned by others here. The exclusive pricing is out of control. Years ago many luxury stores had a range of pricing from affordable to upper tier so they could hit every consumer. Today they are being ultra exclusive and overpricing everything making it challenging for middle class and those who are wealthy, but not billionaires, to make purchases. Everyone cannot be Hermes and Chanel with their $5,000 blouses and $13,000 handbags. In the 1990s one could buy Chanel cologne in the small size for under $40. Today the price is approaching $200. Chanel has priced out 95% of the buying public. Much of the luxury business is controlled and operated by greedy conglomerates with horrible management practices. The rent is out of control. Much of the real estate is no longer owned by the English but foreigners who couldn't care less about retaining tradition, architecture, store legacy, etc. They are all greedy to cash in. Sadly the many boutiques you showed cannot afford to sell moderate priced luxury goods. There is also a high rate of pickpocketing going on now in London making the city unattractive to many who would consider visiting London and instead are diverting travel to Scotland, Ireland and other countries. Sadly, and you won't like hearing this, but years ago, England touted itself as top quality retailers. The beautiful gifts and products you show in Fortum & Mason, Liberty's, Harrods, and many of the luxury shops are very enticing; however many are no longer being made in England but in places like China for English brands. Royal Doulton is now made in China. The English workers were mostly all fired. Wedgewood makes many of its Christmas items in China. Many of the European brands also are selling luxury designs made in China. It seems stupid to shop in the expensive stores today for merchandise that is no longer top quality, stores that fail to offer beautiful displays (just as you mentioned regarding Tiffany's which sadly is owned now by the conglomerate LVMH who has been doing a poor job in managing the once unique brand).
We had a jewelry store in Budapest for 18 years in a downtown plaza, and the pandemic destroyed our business in 2020, and we couldn't continue. We haven't recovered since then.
Same thing is happening in NYC. Fifth Avenue used to be a special shopping street with the most elegant and exclusive stores. Bonwit Tellers, Lord & Taylor, B. Altman, Henri Bendel's..... all gone. Basically we just have Saks Fifth Avenue and Bergdorf's left. Tiffany's is still there but they have gone completely downmarket. Now we have cheap stores like H&M and Zara on Fifth Avenue. I hear that Ikea will be opening a store on Fifth Avenue soon too. When you walk around the city, there are empty storefronts everywhere. Nobody can afford the rent.
Why don’t the landlords go down with their demands to safe these streets. I don’t get it. Once in a downward spiral its hard to stop the downward trent. Its like a former great Restaurant which ruined its reputation. Hard to get back from that, even if you offer the best food ever.
Live in the States and there is nearly no retail anymore, Malls been closing for years. Up market open air shopping plazas are opening, but not being occupied fully. Or stores have very short leases. When the economy tanks and inflation rises people buy less. Housing cost are insane, food is doubled in price. Spending $100s of dollars on a pair of shoes is just out of the reach of most people. Middle class is shrinking need I say more. Love you vlog Hannah.
As an American, I definitely agree with you. Especially on the middle classes. I even doubt we have a middle class anymore. It’s either the wealthy ( who are not spending and that’s a sign we shouldn’t either ) or there are those who live upper middle class or unfortunately..the many who are at or below the poverty line. It’s definitely global and I think here to stay. 😊
agree, I live in Maine. This is a sad STATE now. The elites from out of state are ruining the state. Our Mall is dead. They are talking about converting it to low-cost housing for immigrants, which are everywhere now except for the very elite towns that are changing their zoning to keep them out. This country is gone in 4 short years. So sad. And from reading all the other comments there is no place to run and hide any longer.
I'm in my early 20's, inflation and cost of living are the main issue, people are struggling to pay for their needs and the pay is ridiculous. People are too busy trying to make a living to worry about luxury shopping. It's kind of inevitable the higher inflation becomes the more shops will close down because of lack of shoppers. It's sad back in the 2000's when I was a little boy my mum used to take me shopping in Mayfair and Oxford street all the time and London was very magical especially at night and it gives me soo much nostalgia but it has declined hopefully the people in power see this issue.
Perhaps cancelling of the Tax refund for tourists in London which yielded a 12% savings in retail purchases has had an impact on New Bond street and elsewhere in London because everywhere else in Europe is still been offered…
I would also like to add that this video was very interesting , in my 20s for work I walked every day down Bond Street, you are right it was a special high end market street that made you feel the elegance , eliteness and high class that the stores and architecture exuded. Your video should be shown on the television so as to bring it to everyones attention. Keep up the good work
I’m a retail broker in New York, and while all shopping districts here have some vacancies, overall conditions are improving. Since Covid, the cost of goods, services and residential rents have increased at rates far exceeding personal income so that’s affecting buying power. Several years ago, I leased some retail space to a popular U.K. brand, who actually preferred the structure of our leases which were much longer than yours (i.e., basically in the U.K. leases have a rent review every 5 yrs which causes much stress on tenants especially when their sales volumes declines).
I can't believe my country's embassy was in Bond street, those years I was studying in England I asked myself if my country is one of the poorest in the world, why on earth are we paying so much to rent here when we could be in any street in Central London! Oxford Street is where my Dad used to shop whenever he visited London in the 80s and 90s ..insane ...when you are a tourist you truly have no Clue!!! How to save your money , where to get bargains or not to waste your money!!!
The same thing is true here in the US. A number of stores closed on Rodeo Drive, Madison Avenue (especially on the Upper East Side ironically) and Chicago's Michigan Avenue and/or have gone a bit downmarket after 2020 and have been empty for years. Think a lot of people are shopping online, going to thrift stores or Poshmark, Ebay, Depop for older better made clothes (things aren't as well made as they were years ago, even with luxury brands).
Hannah, My family used to regularly travel to London from the north to enjoy the fabulous shops and buildings. We can no longer afford to travel by train and eat in a cafe or restaurant plus treat ourselves in a good quality shop. People who can still afford a day trip worry about constant cancelled trains where the public are left stranded, with no plausible explanation, crime, dirty streets and constant pouring rain. Its a very sad situation.
Some areas are far more affordable than the North. lol..... These days, your average Deliveroo refugee driver, is actually more posh than your average Brit.... Seriously. Seriously.
It wasn't the migrants that voted in Thatcher and Blair, or sold our public utilities, or sold our miltary to America, or sold our workers rights to corporations. It's embarrassing to hear so many useful idiots that support the American fake wars, then cry like babies when the refugees from that country arrive here.
Thank you for documenting what’s happening on London’s most prestigious high street and questioning the downfall of retail in one of the most cosmopolitan cities in the world. A former Brit myself who now lives in LA, I have shot years of video (post pandemic) that depicts exactly the same demise of retail. It’s tragic! They are killing small to midsize retail for the middle classes and it’s only highend corporate backed retail that will thrive. LA is a shadow of what it use to be…. empty for lease buildings on every corner, dodgy stores, homeless everywhere, not to mention graffiti on every sign post and building. Only a handful of lovely stores. Sadly not what it use it be.
Similar in NYC, but I think it's to do with remote work. People don't commute into Manhattan anymore, and even those who live in Manhattan, work from their home, so nobody in the street, so no foot traffic. Then there is online shopping.
London has a bad reputation for thefts in the high end parts of town. The posh areas attract criminals. They are also attracted by the high values of Swiss wrist watches. People are being advised not to wear high end watches while in London.
posh areas are dead, I've noticed this as more and more of the areas I frequent get socially clensed and gentrified the shops and businesses shut and no one replaces them, I think most new overpriced builds in london are owned by foreign investors who don't live here or just left empty as developers only need to sell a few flats for almost a million quid to make a profit , its the cornwall second home effect. I've seen what was very busy areas (i.e council estates) 20 years ago full of local shops and community centres and people, get knocked down and replaced by ghost towers I call them, because they are just dead there is no one on the streets around them the shop space under them never gets rented out and you hardly see any lights on in them at night.
just wait, they will be releasing prisoners early soon. Dont bother calling the cops they dont respond to thefts and i think they will be so busy trying to tackle the reoffending and then realise there's no capacity to lock them up. No wonder stores are closing. I bet these luxury shops get thefts and therefore their insurance rates go extortionate.
In the USA, luxury goods stores are frequently robbed by groups of young thugs who go in, snatching everything they can get in their arms. They are in and out in minutes, and they know exactly where the merchandise is placed. Luxury stores have guards now, and it’s not uncommon for people to not be allowed in.
Corporation of London own part of Bond Street and the remaining is owned by sovereign funds. Both don’t care if the units are rented. The real gems are the many floors of flats above most of the retail shops.
Multi millionaires are leaving UK, the middle class is shrinking. Thats going to hurt C London retail. Even my mate, worked in London for 17 years, is moving to Dubai, and renting his house out.
It’s not all brilliant in Dubai, cost of living is high, rents are climbing, you have gangs of differing nationalities pushing for their own patch, Nigerians are banned from getting visas, no idea why?!?! huge influx from Russia, due to the ongoing war, but whatever flicks ya switch, enjoy.
Millionaires in my country are staying they are not going anywhere! Things must be going really badly in the UK for all of these millionaires to want to leave.
The whole world seems to be in a mess right now. People, even those who are comfortable, seem to be tightening their belts and forgoing extravagances. I prefer to try and help out my kids by buying toys, books and clothing for quickly growing grandchildren rather than buy for myself. I spend on renting lake houses in my own province so family can join us and save their vacation money for mortgages, food and gas. We used to travel to Europe in the summer and the Caribbean in the winter, but now money is spent more carefully on family members. On the plus side, the memories building sandcastles on the beach, swimming in the lake and making s'mores by the fire, mean so much more to me than travelling abroad now. Everyone seems to love the time together. Just my two cents worth. Thanks for taking us along Hannah. It is sad to see empty stores.
Europe is not the entire World, other countries all over the world are doing quite well, l was in Singapur last winter and what a difference from this slowly colapsing Europe.
@@marymar456 I live in Canada, and, of course, being next door to the U.S. I would say both of our countries are in a mess. Not sure what made you think I felt Europe was the whole world. Singapore is also having major problems including rising inflation, shrinking economy (lower GDP) and an aging population which is now relying on 40% foreign workers. Many of the super rich coming into the country are driving up prices for their citizens. You will be hard pressed to find countries who are not in a mess, and I stress, as I already noted, "The whole world...".
@@beaulieuc8910 For any hardship I have or will experience in my life, I have been and always will be, most grateful for having children and now grandchildren. There is absolutely no other joy that compares to it. Not travelling the world, not going out for expensive dinners, not buying expensive items, nothing. I may have regrets in my life, but having children is definitely not one of them. I would do it all over again.
I know for me, living in the US, I no longer view London as a place to shop since I can no longer receive the VAT tax back. I will shop in France or Italy.
International visitors like yourself are still able to avoid paying the VAT on your purchases in the U.K.. However, now what you buy must be shipped, unused, by the store directly to your home country. The VAT is removed at the point of purchase, so you don't actually pay it. The reason why this change was implemented was due to too many tourists and visitors bending the rules and using the goods they purchased whilst in the U.K. and claiming back the VAT upon leaving the country. The VAT refund has always meant to apply only to goods that had not been used or worn by the purchaser during their time in the U.K. And I would also like to add that most U.S. states do not offer refunds on sales taxes paid by tourists and visitors on the goods they purchase whilst on vacation or business.
@@2001MBKBooster interesting, I didn't know that, I thought that you just had to show the items and the receipt to get the VAT refund. I also think that it has to have a minimum value in order to qualify.
@@2001MBKBooster I just came back from London last week and didn't buy a thing where normally, I would take advantage of the opportunity. Literally everything was around 20-30% more expensive than it is in the US due to the exchange rate and taxes. If I have to have something shipped home, I then pay for expensive international shipping and import duties and then have to worry about the package being lost or stolen. No thank you--I will now do ALL of my shopping on France trips. No, we don't offer refunds on taxes, but comparing US sales tax (usually 6%) to the VAT is comical. Also, in Pennsylvania where I live, there is no tax on food or clothing, so you don't pay tax AT ALL--there is nothing to return. Come visit Philadelphia--a beautiful historic city with amazing food where the beach and the mountains are an hour away in either direction.
@elizabethmillinghausen7356 I’ve seen several videos of Philadelphia online and it appears to be rotting from the inside out, the urban decay, the unruliness, the usual issues, all unaddressed. No offence, but no thanks. I guess it’s a Democrat-run city, right?
When I was young,I would finish work at around 1pm.Go home and get dressed up to go shopping with my friends in London. Oxford Street was one of our favourite places to go -then Bond Street. Everyone looked so smart in those days -you felt special shopping in London. NOW most people look like what we used to call tramps. London isn't a special place to me anymore 😢
Inflation may also be playing a part. People just don't have enough disposable income. The majority of customers for luxury brands are not the super rich. They are most often the middle and upper middle class.
Outside of Rodeo Drive there are plenty of vacant and boarded up shops with for lease signs everywhere. LA is no longer safe to visit. I don't like to go there anymore and I am a native!
Its not only London its every where. I'm from New Zealand and some of our top well known retail brands and restaurants are all going into liquidation. Consumer spending is no longer the way it was. Cost of living so high that most people's earnings are no match to cost of living.
@@G7FX_REVIEWS and streets of empty stores and in the malls. Bargain stores and the more exclusive retailers. Supermarkets closing down. It's the economy and earthquakes
I think there is also a change in the customer base. I really can't see Generation Z and Alpha shopping in high-end stores, given the decadent and irrational culture that society has imposed on them. Generation Y, aka the millennials, are borderline. Everything the Baby Boomer generation stood for - china, table manners, long dresses for weddings, clean and tidy appearance, heirloom furniture, etc. - has been eroded over the last 40 to 50 years, leaving the younger generations with no desire to take up the baton for something they have never known. They are multicultural, unemployed, penniless, fast consumers living a misstructured lifestyle in the image of their fashion and looks. That's the trend and it's not going to change.
So I live in Raleigh, NC for 10 years now, it was quiet, small and friendly. Then it started moving up the list for the best place to live in the U.S. It made it to #3 this year and the building hasn't stopped. Stores, apartments, houses, etc. now the big name stores are pushing the little ones out. More people are moving here and they are building houses on top of each other. Growth is ok, but this is too fast. Be glad London isn't booming. It isn't fun. Hopefully some thought will be given as to what stores are moving in. It seems the way to go is to build build build then worry about housing, roads, cars, later. Is there something wrong with a small park or a community garden? The world is nuts.
What a sad lack of stores and shoppers. It used to be an exciting and luxurius experience. Empoiums like Biba had clothes and accessories unavailable in smaller cities. Evenon teenage wages, I remember fashion and restaurants being affordable. Now retired and abroad, I had planned to go on a shopping experdition again. Thank you for the realistic update.
Hi Hannah I was in the tax free business, now known as the tourist tax. Worked closely with these brands on Bond Street promoting the savings making shopping more attractive to the international shopper. Over the many years, there’s always been changes in brands. However, since the previous government abolished the tax free shopping, a lot of brands have missed this additional revenue. That spend have moved to other countries, France, Italy, Spain etc. did you know that one of Paris’s top tax free shopper is from the uk!
Hannah, the Sakara store was on the south side of Kings Road about ten years ago then suddenly they were gone, too many complaints, passers by being accosted and practically dragged in the store. VAT, paucity of Russian, Arab, American big spenders, traffic free zones, watch robberies, reduced footfall through online shopping, awfulness of Oxford Street, have all contributed to the demise of Bond Street, Burlington Arcade, also, South Molton Street, glory days over 😮Perhaps it is the evolution of the High Street. I was upset when Fenwicks closed, a big shock to many of us - however I’m old enough to remember Peter Robinson on Oxford Circus, Dickins and Jones on Regent Street and (just remember) Swan and Edgar, old fashioned store on Piccadilly Circus, years ago. This is a great vlog, thanks, subscribed !!
Yes, I remember being dragged into this sakara store by the owner. Complemented, used flirtatious behaviour and being in my face… when I told I’m not interested he told me there is a special discount for me and bla bla bla… Then I said -No. His behaviour completely changed to an evil entity. He told me that I have wrinkles around my mouth 😂😂😂. I don’t have a single wrinkle. He told me my skin is bad.😂 And he told me that I wasted his time.😂😂😂 By the way the owner is juice and he trained his staff to intimidate and manipulate people and make them purchase.
The majority of towns in the UK are now 'retail deserts' and it looks like London is not immune. The cost of driving into the city and parking or catching the train and Tube isn't cheap either. Add food and drink onto everything else and it affects the footfall from outside the city.
Thank you for this video, i lived in London for 3 years at the beginning of 2000 and so much have changed. As a father of 3 children now the age between 15-22 i can say that also due to covid or their less willingness to go shopping in physical stores they rather shop online.
Oh no - not lovely Fenwicks where my mum took us as teenagers in the fifties - she would buy an expensive coat and charge it C.O.D. Poor dad didn't stand a chance. I'm afraid its all a sign of the times Hannah. Everyone shops on line - buying mountains of stuff they don't really need - all hooked on Amazon !
I am having to become an online shopper as many of the stores in my city have amalgamated shops and where there used to be 8 there are now 2 or 3. With the price of petrol and public transport safety issues, I now grudgingly do much more online shopping. I have really paired back my shopping … working in a hybrid arrangement and major price increases without wage increases all contribute to my more minimalist approach nowadays.
Yes, greed from the shop owners and greed from the brands... Its out of control and is now biting back! There is a point where people just think "NO" enough is enough. And snooty service, never a plus for any business. But I do love my London and like you Hannah I love the architecture. In the past 5 years I myself shop on line much more, and also when in London it is the iconic stores I gravitate to.
Foreigners who used to come to London to shop before Brexit have reduced significantly, add to that Bond Street boutique treat people badly or are just rude, most people prefer Harrods, Selfridge's etc.
3 reasons: The British middle class are skint due to tax rises and the high cost of living. Tourists are not incentivised to shop in London due to the removal of duty free shopping. Crime is rife in London, especially theft of luxury goods such as watches, designer bags and clothes…
London is very unsafe now, even if someone wants to buy their watch from a physical store they probably will be robbed for it within 6 months so people are just not bothered with expensive luxury things nowadays
There are also the rents. Private investment companies have bought up commercial property and squeezed tenants until they have to quit. But your other observations are bang on the money too. Crime puts off visitors, and you can't ignore what the cabbies say - that London is now so difficult to travel in - roads blocked off, roads dug up, cycle lanes slowing down traffic - and fines or charges for just about anything involving a vehicle. People from out of town who might have met friends to go shopping, have lunch or dinner, go to the theatre etc... it's all too much of an ordeal now - and too expensive.
Life has taken a huge dip....here in Canada it's the same way. Credit cards have taken over our lives, so in my opinion, it was just a matter of time before things bottomed out. Oh my, aren't I just full of joy! Well, bottom line, I continue to enjoy your videos Hannah....love shopping with you! Keep smiling!
Thanks for the video, Hannah. I absolutely love the beautiful places that you show us. It makes me sad to see all the empty places. I don’t live where there are a lot of shops like that, so I do a lot of online shopping but I almost always would rather see, and try on, things in person! So, it saddens me that so many stores are closing. Not that I could ever afford these ones that you’re showing us! But thank you, I appreciate your efforts so much. ❤️
Eye opening to see what I was told in 2020 would happen is happening . Uncomfortable to see, feel bad for the businesses that had to leave. Property taxes and rents, wages, electricity etc…. I saw a video on TH-cam last week that convent garden is mostly boarded up too. Thanks for this video and your attentiveness, observations.
Most people unless your in the 1% group, just can’t afford luxury good’s anymore. Quite luxury is the new thing and that means big names loose out. Great video Hannah 🎉.
I like the way you're prepared to look up above the shops at the sometimes fabulous architecture of the building above. My particular favourite is opposite the Dominion Theatre at Tottenham Court Road , it is, or used to be, Burger King below, now to let above. A wonderful rich red highly decorative building.
Hannah, don't worry about what anyone else thinks or wants, you do you!!! Stars never go out of style, wear them anyway!!!! Your hair looks amazing!!!! Love you💖!
This is another great episode with a lot of stores closing there in London and it is about the same over here in the US with a lot stores and restaurants closing down mainly because of the economy and rising prices have a great weekend Hannah and Thank You. 🇬🇧🙋♂️🇬🇧
I agree and in the U.S. it is more the malls and shopping strips closing. Mostly due to online shopping. Also the chain restaurants are having a harder time. The bright spot is that many U.S. city urban cores are having their own renaissance. More locally owned and unique shops and restaurants opening up as more people are moving back into the urban core. This is a good change!
The same thing happens here in Prague. We used to have the "honor" of having the most expensive retail street in Europe (rent wise). Now obviously you guys take the medal 😁 That street here looks pretty similar to what you've just shown now. I used to work in PR/marketing/operations in retail and I saw it coming long before the pandemonium. The brands became more and more greedy and shameless so it was just a question of time when people had enough and wouldn't be fooled anymore. The pandemonium made people reconsider their life values. And of course there's the eco friendly aspect as well. But the retail world as well as the property owners refuse to accept the change so they are learning the hard way. BTW another aspect that contributes to the situation are the cheap labor/slave labor scandals of the luxury brands. Dior recently? Anyways, I thank you for this informative video👍
@@AnUrbanGypsy idk about London but Czech Republic is a neighboring county of mine so I picked up a thing or two about the state policy on certain matters
@@yorkiebilger7805 Besides the fact that the reasons of the war in Ucraine are much deeper than the ones shown in the media like the BBc, The Guardian ecc ecc the russian riches may not be the ones to blame for the war, they could also be against it. So what is being done is purely discriminaiton. By banning Russinas you' ve lost a lot of money, though you still have Chineses and Arabs buying, they' re not buying for the Russians too, so luxury retails have lost money and a lot. Have americans ever been banned fom shops? As they' ve done a lot of wars and so have English? What about wha' s happening in gaza then?
I've been watching your videos and thinking London had escaped the mass exodus of high end shops like San Francisco and even Los Angeles (mostly due to a combination of office closure from remote workers, increase homeless spilling into the areas, and increase in theft beyond shoplifting). Unlike London, we're talking major department stores, gone, likely relocated; moving into newly created suburbia. Hopefully London stays safe.
That Beatles performance is very famous-at least amongst us aging hippies. I can’t believe those shop girls were so obvious about checking your bag-so rude! I’m still seeing articles about how we aren’t really past the pandemic yet-and COVID gets the blame for many of the problems we are seeing today. You did say, though, that many of these stores have been shut for years, so it’s hard to say. Maybe the available places aren’t suitable for the companies that want to rent? Stores are closing various locations in the US too, but it’s all up and down the economic spectrum. Tough times, indeed. Thank you again for providing a bright spot for us! I really look forward to, and enjoy your videos! ❤
Just wanted to let you know how happy I feel for your e-tube success.....you are being recognized for your interesting, inteligent, insightful videos presented by as I"ve always said, a charming, articulate, beautiful young lady who also makes us smile and laugh at her natural, endearing and delightful opinions. Both you and your sister are an asset to England. You really should have your own T.V. show
Hannah, this is insightful. It takes me down memory lane. I use study at The American College on Marylebone Lane. Sad to see what's happening on the streets that were iconic. Yes, brands are finding it very difficult across the world to find a viable business model. Over pricing is not going to work. You've got me thinking. ❤❤
I think one major contributor is many businesses didn't adapt during Covid years, now that's over but you have many customers who didn't return to in store shopping, add to that so many people still remote or not working all together (at least here in the US), more casual work place dress standards (or lack their of), and a host of other issues, crime and or economy in many places all add up to many businesses moving or closing doors. Even the construction going on can hurt businesses. I'm not sure how all of that London construction/renovation plays into that for those shops but if it interferes with customers easily accessing them, it could even play at least some factor into it. Many folks don't understand how small a profit margin many businesses, especially small businesses, operate off of and rent and employees eats up most of the operating expenses so it only takes a small hit to hurt, too many small hits to a small business can easily sink them. I believe it's a complex issue overall.
Hi Hannah - sometimes the faux balconies in architecture are called 'Juliet balconies'! They are cute especially in black colour. We have the same issues here in Toronto (Yorkville shopping area). Lots of reno work and closures too.
I’ve been walking down Bond Street off and on for 40 years and I think it’s fair to say its fortunes have waxed and waned BUT - I have just been in Munich, by no means the biggest German city and well to the south of the country, but there are all the BIG brands Hermes, Celine, Prada, you name it. I can’t imagine provincial British cities supporting those names somehow. London can’t keep its big names and the UK’s provinces have never had them. Sad state we’re in.
Thanks HANNAH for reminding me of New Bond Street and Old Bond from the 70´s. There weren't many famous brands but they were all high quality items. I hope they resurrect that beautiful area.
You walk through all the areas I visit every weekend. Yes lots of shops are closing in Mayfair, Fenwick closed, economy is still not doing well. But I didn't know Victoria's Secret also closed, it must have been very recent.
A number of big fashion houses/conglomerates (Louis Vuitton, Dior, Gucci & Hermes to name a few) are even seeing a decline in their global sales And it makes sense because the main group of consumers that actually keep their businesses afloat are not just the mega rich, it’s the middle and upper middle class people And these people are feeling the squeeze too in this cost of living crisis & so it’s understandable other lesser known luxury shops are bound to be going through it
I feel that the shops are closed due to a lot of factors, high rents , homeless and beggars everywhere, it doesn’t feel special or safe to go to London shopping any more , I read today that in the first six months of this year , 300 watches have been stolen from people in central London alone , that would probably stop a lots of wealthy people going shopping , then you have the mobile phone thefts, knife crime , gangs etc etc , sad world we live in really
and the general public still is not cognizant of the online "army" - sabotage, disinfo - varying degrees of "actors" can put out fake stats like that, who knows - maybe it was really only 4 watches stolen - but the relative low cost of trolling online to instill fear and reluctance, in order to sway opinion to go somewhere else, is very real - and enterprising people using ai can utilize many possibilities without having to pay anyone else - i'll post a fresh up top of the whole thread - everybody should just watch the movie Surrogate to see one possible very near future scenario (movie is 15 years old i think) - as the bio-digital convergence blends ever more closer day by day ...and the Matrix reality unfolds - how about that, The Matrix now 1/4 century old! haha Vendetta Minority Report .... / would be amazing to have disposable income though to have a flat on one of those London streets we see here though - to make things work there should be Pacha/Amnesia boutique clubs competing every block and sort out the E, get people fit again and teach people manners and 4 Noble Truths , in a perfect world :) seriously there is so much great music and soundsystems yet an astounding dearth of places for people to enjoy - is there zero places to dance - appreciate music on the streets we see in this vid?
Hi Hannah, love your look, outfit, makeup and hair, very elegant and classy as always - aside from here in Manchester, I’ve noticed on Charlie Veitch’s channel that luxury outlets here are growing, but the opposite seems to be happening back home in Ireland during my last visit home in October 2022 and looking around the Dublin shops - the U.K. cost of living crisis seems to be hitting London very hard, so I don’t quite understand how and why Manchester seems to be bucking this trend
Crime + inflation... people don't want to go out as much or travel to London with the high chance of getting robbed or stabbed... and they can't afford to buy the high end stuff as much anymore. Plus the proliferation of online sales since CV. :(
lol, it's not the fear of getting stabbed or robbed! The issue are the sky high rents and people are not spending as much, it's as simple as that! Westfield has also taken some of the business away as they also have these luxury stores there, all under one roof.
@@bennyceca No one is laughing when they're robbed or stabbed. Stabbings in London are so frequent that google started removing them from search results in US and other 'tourist locations' as it was becoming a meme. Robbery is so frequent that society has had to modify everyday behaviors to avoid rampant pickpockets and purse theft. These conditions are not just from ONE THING, mate.
Bingo! The winds of change have hit them, I'm in Canada (much less fancy and stylish than London lol) and the same thing has happened here. Keep in mind, the luxury stores are few and far between but are STRUGGLING. I'm sure those that can afford are still buying some luxury items but the rise in crime and violence has probably led them to do so from the comfort of their homes.
Another great video Hannah. I am an online shopper now as I have limited mobility and use a walker to walk. I used to love going into retail stores just to look around even if I wasn't buying anything. Inflation is worldwide now - people aren't buying as much. And of course the online businesses I'm sure is playing a part. Take care Hannah. Have a good weekend.
I was a student there 50 years ago. Loved shopping at Oxford street and going to Speakers Corner on Sundays. Bring back memories but yeah it looks different.
Back in the 80's my friend and i went from the barn to a department store in Arizona to pick up a dress. The sales staff looked down on us and were so rude. She used a phone and called her mom( no cell phone back then). Suddenly, the general manager came down and started doting on her. He shooded the sales staff away. Yeah, her family owned the store and a whole lot more.
That’s so funny that the store staff looked at your bag. 🤣🤣🤣But I loved seeing the street and the shops and architecture, and your informative commentary! Have a wonderful weekend!☺️
There is no mystery here. Inflation has destroyed what little 'disposable' income people have......no shoppers.....no shops....
1000%
Yeah NatWest gets all of my income now for my mortgage, hope they spend it well.
Same here my monthly outgoings have doubled since 2019. My wages haven’t doubled and if you take the extra income tax into consideration they would have
to more than double.
If you think that the residents & shoppers of Mayfair have no ‘disposable’ income then you need to get out of your house more ! I saw someone in Fortnums last week spending £10,000 on perfume 😅
Inflation is everywhere in the world. The obvious reason is the general decline as a result of Brexit. Why this lady keep on talking of Europe? One of the most expensive streets in Europe and so one. You are not a part of Europe anymore.
London used to have a unique magic and enegy. It feels weird now. The people have changed. Oxford St is the most depressing part for sure.
A people make a place. Denigrate them and the left over buildings can’t replicate that ☹️
People were told to stay away from each other…do not meet friends, relatives, don’t socialise. This made people change.
london is full of foreigners it is not an english city any longer so of course no one cares to go there. character gone, just another generic city.
I've not noticed that at all. I go shopping in Oxford street and it's no different to how it was before the pandemic now.
Nothing is the same after the pandemic, l agree
It’s happening in retail worldwide. If stores don’t have customers for their goods and services, their done. Prices for products are higher. Real estate is higher. Rents are higher. Taxes are higher. Food is higher. The consumers only have limited disposable income. After they buy food there’s not much left for anything else.
well, sort of. Online business and change of buying habits are affecting shops in streets, but London is suffering from this at a far higher and faster rate. I live near Frankfurt and a lot of shops have given way to restaurants and places that aren't so badly affected by online ordering, but you don't see anywhere near as many closed places here as you see in this vid of London. The UK is suffering and is also FAR less attractive since brexit. That has really accelerated decline in the UK.
Yeah it's exactly the same in what was the 'Miracle Mile' in Chicago - totally lost itself the past 10-15 years just like Oxford Street.
Yes same thing Toronto 🇨🇦
@@lisawins”Magnificent Mile” not miracle mile and it’s not nearly as deserted as Bond street at all. The US is not comparable to Britain. Researchers say if you take out London, the rest of UK is like Mississippi. That is very deep.
People buying online doesn't help....
When I first moved to London from Rome 10 years ago my mom would come and visit me around Christmas time and just for fun we would go to all the posh stores. We couldn’t afford it but it was a fun activity.
One major difference I’m noticing is that a lot of independent designer boutiques that used to be around aren’t there anymore, it’s sad!
With Islam around nothing Is the same
It’s lnline shopping very booming
@@Sandro-ij7tebrought to you by judaism Fool
@@Sandro-ij7telol 😂 people are not buying expensive things nowadays because most of them are buying them either from online or not buying them at all. People are changing. Stop blaming others religions bro. Even as an atheist I will never mock Christianity or Islam or Hinduism.
@@ImamHasan06 islam change scenery all over western society making sad Place.
Rodeo Drive in Beverly Hills is dealing with the same thing. It’s due mostly to the fact after COVID people realized how easy and convenient it was to shop online. You don’t need to leave your living room, returns are easy, shipping often free, returns are free. Or do you pay to park, deal with rude customer service, and pay 20-25% more to pay for top tier rent. This is happening in EVERY large city in the more luxury shopping districts. They have almost all completely closed, or paired down so much you don’t recognize the area.
Spot on!
It's not only online convenience, it's crime. Too scary to shop in a luxury store where you've probably been seen and marked as a target
I shop down this street less and less now, the rudeness and snobbery from staff is unnecessary and off putting. I tend to shop in Harrods or Selfridges now because the staff are helpful and have time for you. Thanks Hannah.
True.
Me too!
Its the same in germany. Usually its bored staff who have bad life and try to mock the rich or people having money buying rich stuff.
The are just angry staff.
And who on earth as a normal person buys weird ugly stuff from hermes? Never will do that with my money.
People with money are targetted as there is no police and they do not whant to be mugged or stabbed pluse they can't park there 4 by 4 or rollers anywhere close to these places
Walking around with a bunch of designer shopping bags is like having a big neon siign over your head saying rob me and if you have a fancy watch on displaygood chance you will be followed home. Wecome to London 😮
Not far wrong……..
@@alexspearing3191 It didn’t use to be like that. What went wrong 😑…
Same in NYC
Nonsense
Rubbish. Even Hannah is walking round with a really expensive camera on an arm.
This seems to be happening everywhere Hannah. I noticed this particularly in Paris last fall. My son and I walked the length of the Champs-Elysee from the Etoile down to the Place de la Concorde. Every second or third store was closed or wrapped in scaffolding being revamped or repurposed. Very much not as I remembered from my last visit.
On a brighter note it's always a joy and a pleasure to spend time in your company, you are so engaging. Also, I notice your subscriber count is climbing rapidly to the 200K mark. Last time I looked it was 194k, now 197K! In just a couple of weeks! You'll soon be over that next hurdle....You GO girl! 🥰🤩
We just came back from Paris. a dump.
@@fancynancymacy Paris has a wealth of areas with independent stores - perhaps you didn't go to the right places. Palais Royale - for instance or around the Bon Marche'.
I left London three years ago after 47 years of living there. Even before Covid, established and affordable shops and restaurants were closing down due to extreme rent and rate hikes which successive governments did nothing to prevent. Even characterful old markets, like Spitalfields, became commercialized and lost their original character. The Piccadilly Cafe, which had existed since the 1950s and was used by TV programme directors because of its authentic Fifties decor, closed down. The Stockpot, where you could get a three-course pre-theatre meal for a tenner, followed suit. The same happened with the Vintage Magazine Shop and my favourite restaurant near Oxford Circus, Ozer. Oddball shops in the 1970s where you could browse and find something nostalgic or quirky were all replaced over time with generic big name shops which you could find in any high street. Why would you want to go to the West End when your local main street had the same boring shops? The cinemas around Leicester Square replaced their big screens with smaller ones but retained their high prices. So, central London was dying even before the pandemic and the trend towards working at home. I'm retired now and living in Northern Ireland but former work colleagues in London only go into work twice a week at most so employers' buildings are just giant albatrosses around their necks. I bet they can't wait for their contracts to expire so they can move out. That said, even in a sleepy Irish town shops are closing. There are more charity shops than anything. The only new shop to open in two years here was (appropriate I thought) a Funeral Director! Dying never goes out of fashion.
Took the Gatwick express to the airport, never looked back
My goodness is it really that bad in London nowadays? Is London becoming a city only for the rich?
The stockpot in Soho was extraordinary. I met many great people there, including artists, painters and writers. There's still one in Chelsea. :)
@@williamMaezawaThere are no rich anymore; they are all gone, and that's why businesses are closing down.
@@maisondesalbertins I know a lot of the rich have left but there are still so many wealthy people left in UK
London is one of my all-time favorite cities! I served in the USAF for 21 years and was all over the world. I was stationed in England from 2001-2004. At that time I was single and in my 20s. My friends and I used to take the train from Cambridge down to London every chance we could. Used to go down to Picadilly, Trafalger, Bond street, and Covent Gardens to cruise around and window shop. I always wanted to get a custom made suit from a shop on Savile Row. The summer of 2003, my mom came to visit and I took her to Fortnum and Mason to get her some tea (she wanted the same tea that Queen Elizabeth drank) and Harrod's. Sad to see some of those shops leave, but Bond Street still looks good compared to some cities in the U.S. I'm originally from Chicago but I live in Texas now. Chicago's once revered shopping district the Magnificent Mile looks like a war zone now. Anyhoo, thanks for the video; glad it came on my feed. Cheers Hannah!
What a lovely post. I see American cars in Newmarket sometimes, probably from the US base up the road.
@@zie9171 I used to live in Newmarket close to the Tesco right off the A14. My regular pub was the White Hart. Good times! 🙂
It’s a shithole now unless your minted and living in Hampstead
Beautiful story
Hope you're going to vote for Trump ❤
I own a business in the States & I can tell you, the biggest expense that is becoming a potential killer is payroll & increasing lease expense. Basically just the cost of doing business will eventually no longer make financial sense. Thank you Hannah 💜💜💜
40 year So. Cal entrepreneur - I would never start a new business in California with employees due to regulations, BS laws, taxes and potential lawsuits from workers. Forget it!
Just curious what’s the name of your retail business in the U.S.?
@@C.E.Thomas1952 Forget about running a retail chain in many cities in America. They've decriminalized shoplifting in many cities so it's a free-for-all for anyone who wants to help themselves.
@@elliotresnick5433 They said nothing about retail old Bean.
I've noticed a ton of 'don't buy luxury brands' videos on YT lately. I think times are changing. Maybe people finally come to realize that they got scammed out of their money by LVMH and Co for years.
Don't buy labels and fashion - buy quality and style. For gentlemen Jermyn Street is going to provide you with quality items that will still look good in 10, 20 and 30 years. New Bond Street is full of “luxury” fast fashion for people with little taste IMHO.
Yup so called luxury complete rip off
Thank you Hannah! Excellent! And yes, I think you should have your own brand! Love all your content… orange wedgewood-fabfab idea🧡🧡
Absolutely, I think considering the times, a lot of people are learning that trying to look rich is making them poor. I certainly wouldn't walk around London with anything nice. What's the point, otherwise you're more likely to get robbed. I don't want to get political but the mayor of London and police clearly have priorities other than crime on their agenda. Criminals are being given free reign while if we lift a finger to defend ourselves, we'll get the full weight of the law. I guess it's this woke nonsense way of looking at the world which is to blame.
There is a time and place for luxury items. We shouldn’t decrease our goals or standards. Times are hard sometimes. But keep your heads up.
Brick and mortar are hurting but I think online shops are going to be in for a rude awakening as reality continues to pummel upper-middle to lower income brackets; housing/groceries/heating costs are simply becoming more top of mind and even giants like Amazon will come to find what they sell are just disposable conveniences and not necessities or meaningful.
Doom and gloom comment aside - thank you for showing off London. Your down to earth commentary is always something I look forward to.
Agree. Have travelled to Europe and within the US. Housing and necessity prices have skyrocketed EVERYWHERE. Less money for extravagant purchases. Saw more people just giving up and living on the streets. Maybe just the same percentage, but as the population grows, perhaps the homeless population is increasing along with population as well. Unfortunate truth.
@@Phoebe_Marie_and_Daisy_toonearly all homeless people are addicts, alcoholics or mentally ill, not homeless because housing is expensive .
No chance....I dont know anyone who shops online. They just try to advertise it through comments like yours.
Yeah amazon will fall soon
Thanks for this! I love your honest assessment of everything you cover. In answer to your query, there are many variables as mentioned by others here. The exclusive pricing is out of control. Years ago many luxury stores had a range of pricing from affordable to upper tier so they could hit every consumer. Today they are being ultra exclusive and overpricing everything making it challenging for middle class and those who are wealthy, but not billionaires, to make purchases. Everyone cannot be Hermes and Chanel with their $5,000 blouses and $13,000 handbags. In the 1990s one could buy Chanel cologne in the small size for under $40. Today the price is approaching $200. Chanel has priced out 95% of the buying public. Much of the luxury business is controlled and operated by greedy conglomerates with horrible management practices. The rent is out of control. Much of the real estate is no longer owned by the English but foreigners who couldn't care less about retaining tradition, architecture, store legacy, etc. They are all greedy to cash in. Sadly the many boutiques you showed cannot afford to sell moderate priced luxury goods. There is also a high rate of pickpocketing going on now in London making the city unattractive to many who would consider visiting London and instead are diverting travel to Scotland, Ireland and other countries. Sadly, and you won't like hearing this, but years ago, England touted itself as top quality retailers. The beautiful gifts and products you show in Fortum & Mason, Liberty's, Harrods, and many of the luxury shops are very enticing; however many are no longer being made in England but in places like China for English brands. Royal Doulton is now made in China. The English workers were mostly all fired. Wedgewood makes many of its Christmas items in China. Many of the European brands also are selling luxury designs made in China. It seems stupid to shop in the expensive stores today for merchandise that is no longer top quality, stores that fail to offer beautiful displays (just as you mentioned regarding Tiffany's which sadly is owned now by the conglomerate LVMH who has been doing a poor job in managing the once unique brand).
We had a jewelry store in Budapest for 18 years in a downtown plaza, and the pandemic destroyed our business in 2020, and we couldn't continue.
We haven't recovered since then.
😢 🇭🇺🇭🇺
What does this have to do with high-end London?
So many small locally owned businesses have closed where I live in the last year. You know it’s bad when the big companies start closing their stores.
Same thing is happening in NYC. Fifth Avenue used to be a special shopping street with the most elegant and exclusive stores. Bonwit Tellers, Lord & Taylor, B. Altman, Henri Bendel's..... all gone. Basically we just have Saks Fifth Avenue and Bergdorf's left. Tiffany's is still there but they have gone completely downmarket. Now we have cheap stores like H&M and Zara on Fifth Avenue. I hear that Ikea will be opening a store on Fifth Avenue soon too. When you walk around the city, there are empty storefronts everywhere. Nobody can afford the rent.
So sad😭😭😭
Why don’t the landlords go down with their demands to safe these streets. I don’t get it. Once in a downward spiral its hard to stop the downward trent. Its like a former great Restaurant which ruined its reputation. Hard to get back from that, even if you offer the best food ever.
Live in the States and there is nearly no retail anymore, Malls been closing for years. Up market open air shopping plazas are opening, but not being occupied fully. Or stores have very short leases. When the economy tanks and inflation rises people buy less. Housing cost are insane, food is doubled in price. Spending $100s of dollars on a pair of shoes is just out of the reach of most people. Middle class is shrinking need I say more. Love you vlog Hannah.
All because of Joe Biden/HUSSEIN obama destruction..
As an American, I definitely agree with you. Especially on the middle classes. I even doubt we have a middle class anymore. It’s either the wealthy ( who are not spending and that’s a sign we shouldn’t either ) or there are those who live upper middle class or unfortunately..the many who are at or below the poverty line. It’s definitely global and I think here to stay. 😊
agree, I live in Maine. This is a sad STATE now. The elites from out of state are ruining the state. Our Mall is dead. They are talking about converting it to low-cost housing for immigrants, which are everywhere now except for the very elite towns that are changing their zoning to keep them out. This country is gone in 4 short years. So sad. And from reading all the other comments there is no place to run and hide any longer.
I'm in my early 20's, inflation and cost of living are the main issue, people are struggling to pay for their needs and the pay is ridiculous. People are too busy trying to make a living to worry about luxury shopping. It's kind of inevitable the higher inflation becomes the more shops will close down because of lack of shoppers. It's sad back in the 2000's when I was a little boy my mum used to take me shopping in Mayfair and Oxford street all the time and London was very magical especially at night and it gives me soo much nostalgia but it has declined hopefully the people in power see this issue.
I love the architecture of London. Thank you for sharing it with us ❤
You are turning into an investigative reporter, Hannah! Excellent! Keep asking questions!👍
Perhaps cancelling of the Tax refund for tourists in London which yielded a 12% savings in retail purchases has had an impact on New Bond street and elsewhere in London because everywhere else in Europe is still been offered…
buy in paris save yourself 20 grand on watch because of hunts tax changes even super rich will go for it we have to compete
100%
@@ivanrainbird2416 compete for what? no money?
VAT is a con because nobody can define what value is being taxed. I think we pay far too much tax
10000%
I would also like to add that this video was very interesting , in my 20s for work I walked every day down Bond Street, you are right it was a special high end market street that made you feel the elegance , eliteness and high class that the stores and architecture exuded. Your video should be shown on the television so as to bring it to everyones attention. Keep up the good work
I’m a retail broker in New York, and while all shopping districts here have some vacancies, overall conditions are improving. Since Covid, the cost of goods, services and residential rents have increased at rates far exceeding personal income so that’s affecting buying power.
Several years ago, I leased some retail space to a popular U.K. brand, who actually preferred the structure of our leases which were much longer than yours (i.e., basically in the U.K. leases have a rent review every 5 yrs which causes much stress on tenants especially when their sales volumes declines).
You wish
Improving lol
Lol NYC is also going down it's trash!
Mayfair is a totally different strata of shoppers than bog-standard retail.
I can't believe my country's embassy was in Bond street, those years I was studying in England I asked myself if my country is one of the poorest in the world, why on earth are we paying so much to rent here when we could be in any street in Central London! Oxford Street is where my Dad used to shop whenever he visited London in the 80s and 90s ..insane ...when you are a tourist you truly have no Clue!!! How to save your money , where to get bargains or not to waste your money!!!
The same thing is true here in the US. A number of stores closed on Rodeo Drive, Madison Avenue (especially on the Upper East Side ironically) and Chicago's Michigan Avenue and/or have gone a bit downmarket after 2020 and have been empty for years. Think a lot of people are shopping online, going to thrift stores or Poshmark, Ebay, Depop for older better made clothes (things aren't as well made as they were years ago, even with luxury brands).
Hannah, My family used to regularly travel to London from the north to enjoy the fabulous shops and buildings. We can no longer afford to travel by train and eat in a cafe or restaurant plus treat ourselves in a good quality shop. People who can still afford a day trip worry about constant cancelled trains where the public are left stranded, with no plausible explanation, crime, dirty streets and constant pouring rain. Its a very sad situation.
REFERENDUM ON MASS IMMIGRATION
Some areas are far more affordable than the North. lol..... These days, your average Deliveroo refugee driver, is actually more posh than your average Brit.... Seriously. Seriously.
It wasn't the migrants that voted in Thatcher and Blair, or sold our public utilities, or sold our miltary to America, or sold our workers rights to corporations.
It's embarrassing to hear so many useful idiots that support the American fake wars, then cry like babies when the refugees from that country arrive here.
train fares are more than airfares
Constant pouring rain? Lol is this some knnd of melodramatic meltdown?? Lol
A sign of the times with recognisable, prestigious names closing their stores. Great vlog! Thanks for sharing!
Here in he states too
Hannah you are a breath of fresh air
Thank you for documenting what’s happening on London’s most prestigious high street and questioning the downfall of retail in one of the most cosmopolitan cities in the world. A former Brit myself who now lives in LA, I have shot years of video (post pandemic) that depicts exactly the same demise of retail. It’s tragic! They are killing small to midsize retail for the middle classes and it’s only highend corporate backed retail that will thrive. LA is a shadow of what it use to be…. empty for lease buildings on every corner, dodgy stores, homeless everywhere, not to mention graffiti on every sign post and building. Only a handful of lovely stores. Sadly not what it use it be.
Similar in NYC, but I think it's to do with remote work. People don't commute into Manhattan anymore, and even those who live in Manhattan, work from their home, so nobody in the street, so no foot traffic. Then there is online shopping.
London has a bad reputation for thefts in the high end parts of town. The posh areas attract criminals. They are also attracted by the high values of Swiss wrist watches. People are being advised not to wear high end watches while in London.
posh areas are dead, I've noticed this as more and more of the areas I frequent get socially clensed and gentrified the shops and businesses shut and no one replaces them, I think most new overpriced builds in london are owned by foreign investors who don't live here or just left empty as developers only need to sell a few flats for almost a million quid to make a profit , its the cornwall second home effect. I've seen what was very busy areas (i.e council estates) 20 years ago full of local shops and community centres and people, get knocked down and replaced by ghost towers I call them, because they are just dead there is no one on the streets around them the shop space under them never gets rented out and you hardly see any lights on in them at night.
just wait, they will be releasing prisoners early soon. Dont bother calling the cops they dont respond to thefts and i think they will be so busy trying to tackle the reoffending and then realise there's no capacity to lock them up.
No wonder stores are closing. I bet these luxury shops get thefts and therefore their insurance rates go extortionate.
I stopped going to London to shop years ago and I’m not going back.
In the USA, luxury goods stores are frequently robbed by groups of young thugs who go in, snatching everything they can get in their arms. They are in and out in minutes, and they know exactly where the merchandise is placed. Luxury stores have guards now, and it’s not uncommon for people to not be allowed in.
My husband’s lux watch was picked up off his wrist in London 😢
Corporation of London own part of Bond Street and the remaining is owned by sovereign funds. Both don’t care if the units are rented. The real gems are the many floors of flats above most of the retail shops.
Yes, all about residential. Isn't John Lewis trying to change their stores to flats.....
lOVE THESE type of reports.Very informative
Yes absolutely beautiful architecture behind that scaffolding... more to this than meets the eye for sure !!
You've figured it out.
Multi millionaires are leaving UK, the middle class is shrinking. Thats going to hurt C London retail. Even my mate, worked in London for 17 years, is moving to Dubai, and renting his house out.
Yes, excellent point. The question is, what do they know that the rest of us aren't being informed of?
It’s not all brilliant in Dubai, cost of living is high, rents are climbing, you have gangs of differing nationalities pushing for their own patch, Nigerians are banned from getting visas, no idea why?!?! huge influx from Russia, due to the ongoing war, but whatever flicks ya switch, enjoy.
He must be a Muslim because who isn’t one would never move to a Islamic country
Millionaires in my country are staying they are not going anywhere! Things must be going really badly in the UK for all of these millionaires to want to leave.
Tax , it must be one of the reasons.
The whole world seems to be in a mess right now. People, even those who are comfortable, seem to be tightening their belts and forgoing extravagances. I prefer to try and help out my kids by buying toys, books and clothing for quickly growing grandchildren rather than buy for myself. I spend on renting lake houses in my own province so family can join us and save their vacation money for mortgages, food and gas. We used to travel to Europe in the summer and the Caribbean in the winter, but now money is spent more carefully on family members. On the plus side, the memories building sandcastles on the beach, swimming in the lake and making s'mores by the fire, mean so much more to me than travelling abroad now. Everyone seems to love the time together. Just my two cents worth. Thanks for taking us along Hannah. It is sad to see empty stores.
Europe is not the entire World, other countries all over the world are doing quite well, l was in Singapur last winter and what a difference from this slowly colapsing Europe.
glad to be childfree
@@marymar456 I live in Canada, and, of course, being next door to the U.S. I would say both of our countries are in a mess. Not sure what made you think I felt Europe was the whole world. Singapore is also having major problems including rising inflation, shrinking economy (lower GDP) and an aging population which is now relying on 40% foreign workers. Many of the super rich coming into the country are driving up prices for their citizens. You will be hard pressed to find countries who are not in a mess, and I stress, as I already noted, "The whole world...".
@@beaulieuc8910 For any hardship I have or will experience in my life, I have been and always will be, most grateful for having children and now grandchildren. There is absolutely no other joy that compares to it. Not travelling the world, not going out for expensive dinners, not buying expensive items, nothing. I may have regrets in my life, but having children is definitely not one of them. I would do it all over again.
@@beaulieuc8910 I wouldn't want to be child/grandchild free for all the money in the world.
I know for me, living in the US, I no longer view London as a place to shop since I can no longer receive the VAT tax back. I will shop in France or Italy.
International visitors like yourself are still able to avoid paying the VAT on your purchases in the U.K.. However, now what you buy must be shipped, unused, by the store directly to your home country. The VAT is removed at the point of purchase, so you don't actually pay it.
The reason why this change was implemented was due to too many tourists and visitors bending the rules and using the goods they purchased whilst in the U.K. and claiming back the VAT upon leaving the country. The VAT refund has always meant to apply only to goods that had not been used or worn by the purchaser during their time in the U.K.
And I would also like to add that most U.S. states do not offer refunds on sales taxes paid by tourists and visitors on the goods they purchase whilst on vacation or business.
@@2001MBKBooster interesting, I didn't know that, I thought that you just had to show the items and the receipt to get the VAT refund. I also think that it has to have a minimum value in order to qualify.
@@2001MBKBooster I just came back from London last week and didn't buy a thing where normally, I would take advantage of the opportunity. Literally everything was around 20-30% more expensive than it is in the US due to the exchange rate and taxes. If I have to have something shipped home, I then pay for expensive international shipping and import duties and then have to worry about the package being lost or stolen. No thank you--I will now do ALL of my shopping on France trips. No, we don't offer refunds on taxes, but comparing US sales tax (usually 6%) to the VAT is comical. Also, in Pennsylvania where I live, there is no tax on food or clothing, so you don't pay tax AT ALL--there is nothing to return. Come visit Philadelphia--a beautiful historic city with amazing food where the beach and the mountains are an hour away in either direction.
@elizabethmillinghausen7356 I’ve seen several videos of Philadelphia online and it appears to be rotting from the inside out, the urban decay, the unruliness, the usual issues, all unaddressed. No offence, but no thanks.
I guess it’s a Democrat-run city, right?
Go to Paris, have fun. A friend of mine was robbed twice in one week and police couldn't give a s...
I was really impressed by your vlog. You are so professional and polished. x
When I was young,I would finish work at around 1pm.Go home and get dressed up to go shopping with my friends in London. Oxford Street was one of our favourite places to go -then Bond Street.
Everyone looked so smart in those days -you felt special shopping in London.
NOW most people look like what we used to call tramps.
London isn't a special place to me anymore 😢
Inflation may also be playing a part. People just don't have enough disposable income. The majority of customers for luxury brands are not the super rich. They are most often the middle and upper middle class.
And the increased interest rates. A lot of companies borrowed a lot when money was virtually free. Now they’re faced with the cost.
Brexit = expensive import costs
Yes I'm old enough to remember the Beatles rooftop performance! xx
Me too !
Me too!
Me, too. And the Beatles’ Apple Store !
how do you feel about becming minority in your own country and london being only 35% White?
I was only 1 year old when beatles did that
Greedy landlords are everywhere, especially in the states in every city. Even Rodeo Drive in Beverly Hills is dealing with something similar.
Outside of Rodeo Drive there are plenty of vacant and boarded up shops with for lease signs everywhere. LA is no longer safe to visit. I don't like to go there anymore and I am a native!
A decade of tory policies have bankrupted the nation unfortunately and leaving the EU has meant it's not cheaper to buy luxury goods in London
Nothing to do with your labour major and demos every weekend bad policing and knife crime constantly in the news. London has lost its buzz.
Love your walk n chat style. Big Congratulations on 200k subscribers🥂 🎉
Its not only London its every where. I'm from New Zealand and some of our top well known retail brands and restaurants are all going into liquidation. Consumer spending is no longer the way it was. Cost of living so high that most people's earnings are no match to cost of living.
@@G7FX_REVIEWS and streets of empty stores and in the malls. Bargain stores and the more exclusive retailers. Supermarkets closing down. It's the economy and earthquakes
I think there is also a change in the customer base. I really can't see Generation Z and Alpha shopping in high-end stores, given the decadent and irrational culture that society has imposed on them. Generation Y, aka the millennials, are borderline. Everything the Baby Boomer generation stood for - china, table manners, long dresses for weddings, clean and tidy appearance, heirloom furniture, etc. - has been eroded over the last 40 to 50 years, leaving the younger generations with no desire to take up the baton for something they have never known.
They are multicultural, unemployed, penniless, fast consumers living a misstructured lifestyle in the image of their fashion and looks.
That's the trend and it's not going to change.
USA too
Who doesn't love a stroll and a mooch with Hannah ❤
I would much prefer a roll and a smooch but that's just me.
She could spend the weekend on my boat 😂😂 (London rhyming slang)
Those shades will not be needed this summer
Take your tablets dear
I don't believe she does these videos to get hit on.
So I live in Raleigh, NC for 10 years now, it was quiet, small and friendly. Then it started moving up the list for the best place to live in the U.S. It made it to #3 this year and the building hasn't stopped. Stores, apartments, houses, etc. now the big name stores are pushing the little ones out. More people are moving here and they are building houses on top of each other. Growth is ok, but this is too fast. Be glad London isn't booming. It isn't fun. Hopefully some thought will be given as to what stores are moving in. It seems the way to go is to build build build then worry about housing, roads, cars, later. Is there something wrong with a small park or a community garden? The world is nuts.
@mikeb439Raleigh booming with illegals too
What a sad lack of stores and shoppers. It used to be an exciting and luxurius experience. Empoiums like Biba had clothes and accessories unavailable in smaller cities. Evenon teenage wages, I remember fashion and restaurants being affordable.
Now retired and abroad, I had planned to go on a shopping experdition again. Thank you for the realistic update.
Hi Hannah
I was in the tax free business, now known as the tourist tax. Worked closely with these brands on Bond Street promoting the savings making shopping more attractive to the international shopper.
Over the many years, there’s always been changes in brands. However, since the previous government abolished the tax free shopping, a lot of brands have missed this additional revenue. That spend have moved to other countries, France, Italy, Spain etc.
did you know that one of Paris’s top tax free shopper is from the uk!
Hannah, the Sakara store was on the south side of Kings Road about ten years ago then suddenly they were gone, too many complaints, passers by being accosted and practically dragged in the store.
VAT, paucity of Russian, Arab, American big spenders, traffic free zones, watch robberies, reduced footfall through online shopping, awfulness of Oxford Street, have all contributed to the demise of Bond Street, Burlington Arcade, also, South Molton Street, glory days over
😮Perhaps it is the evolution of the High Street. I was upset when Fenwicks closed, a big shock to many of us - however I’m old enough to remember
Peter Robinson on Oxford Circus, Dickins and Jones on Regent Street and (just remember) Swan and Edgar, old fashioned store on Piccadilly Circus, years ago.
This is a great vlog, thanks, subscribed !!
Yes, I remember being dragged into this sakara store by the owner. Complemented, used flirtatious behaviour and being in my face… when I told I’m not interested he told me there is a special discount for me and bla bla bla… Then I said -No. His behaviour completely changed to an evil entity. He told me that I have wrinkles around my mouth 😂😂😂. I don’t have a single wrinkle. He told me my skin is bad.😂 And he told me that I wasted his time.😂😂😂
By the way the owner is juice and he trained his staff to intimidate and manipulate people and make them purchase.
Always look forward to your next video! You are so classy but also down to earth.
Exactly! Classy and down to earth.
The majority of towns in the UK are now 'retail deserts' and it looks like London is not immune. The cost of driving into the city and parking or catching the train and Tube isn't cheap either. Add food and drink onto everything else and it affects the footfall from outside the city.
yep can't afford to even travel there now
It’s like £4 for the tube!?
Thank you for this video, i lived in London for 3 years at the beginning of 2000 and so much have changed.
As a father of 3 children now the age between 15-22 i can say that also due to covid or their less willingness to go shopping in physical stores they rather shop online.
The whole UK is looking like this!
Oh no - not lovely Fenwicks where my mum took us as teenagers in the fifties - she would buy an expensive coat and charge it C.O.D. Poor dad didn't stand a chance. I'm afraid its all a sign of the times Hannah. Everyone shops on line - buying mountains of stuff they don't really need - all hooked on Amazon !
I just went there in June and was shocked to see the Fenwicks shop empty😩
Even Amazon isn't the cheapest place to buy stuff anymore. Some items are more expensive than if you buy direct. You just have to do your research
WOW can't believe Fenwicks is gone it was a landmark in Bond Street. I'm from London but live in Newcastle and there's one here, its very successful.
I don't know what it is but everywhere is changing in the UK. Not always for the best.
Am hearing and seeing that too :-(
Progressive change is a disease.
Agenda 2030. Read up and get thinking, lots of people prepping. Lots of people woken up by last four years.
Mass illegal immigrants
I am having to become an online shopper as many of the stores in my city have amalgamated shops and where there used to be 8 there are now 2 or 3. With the price of petrol and public transport safety issues, I now grudgingly do much more online shopping. I have really paired back my shopping … working in a hybrid arrangement and major price increases without wage increases all contribute to my more minimalist approach nowadays.
Yes, greed from the shop owners and greed from the brands... Its out of control and is now biting back! There is a point where people just think "NO" enough is enough. And snooty service, never a plus for any business. But I do love my London and like you Hannah I love the architecture. In the past 5 years I myself shop on line much more, and also when in London it is the iconic stores I gravitate to.
Foreigners who used to come to London to shop before Brexit have reduced significantly, add to that Bond Street boutique treat people badly or are just rude, most people prefer Harrods, Selfridge's etc.
@@seansmith445 tax laws have changed for foreigners, I know of people who no longer see it worth while to shop in London as foreigners.
@@seansmith445foreigners could buy tax free before Brexit
Depends on origin of the goods. UK origin, quids in. Foreign produce brought to UK, it's gonna hurt.
@@seansmith445 since brexit many luxury shoppers opt to buy in Paris or other cities where they get better prices plus tax free
3 reasons: The British middle class are skint due to tax rises and the high cost of living. Tourists are not incentivised to shop in London due to the removal of duty free shopping. Crime is rife in London, especially theft of luxury goods such as watches, designer bags and clothes…
As an ex turist I must say Britain cannot go being a very unsafe country and expect turists to go there as before.
@@anasttau9908… Not the whole Country. I live in a small town in Sussex and we do not have any crime. Very quiet and beautiful place.
@@luisafrance1635Hope it stays that way
London is very unsafe now, even if someone wants to buy their watch from a physical store they probably will be robbed for it within 6 months so people are just not bothered with expensive luxury things nowadays
There are also the rents. Private investment companies have bought up commercial property and squeezed tenants until they have to quit. But your other observations are bang on the money too. Crime puts off visitors, and you can't ignore what the cabbies say - that London is now so difficult to travel in - roads blocked off, roads dug up, cycle lanes slowing down traffic - and fines or charges for just about anything involving a vehicle. People from out of town who might have met friends to go shopping, have lunch or dinner, go to the theatre etc... it's all too much of an ordeal now - and too expensive.
Life has taken a huge dip....here in Canada it's the same way. Credit cards have taken over our lives, so in my opinion, it was just a matter of time before things bottomed out. Oh my, aren't I just full of joy! Well, bottom line, I continue to enjoy your videos Hannah....love shopping with you! Keep smiling!
Thanks for the video, Hannah. I absolutely love the beautiful places that you show us. It makes me sad to see all the empty places. I don’t live where there are a lot of shops like that, so I do a lot of online shopping but I almost always would rather see, and try on, things in person! So, it saddens me that so many stores are closing. Not that I could ever afford these ones that you’re showing us! But thank you, I appreciate your efforts so much. ❤️
PS - you absolutely should start your own brand! 😁
As a newfound finder of this channel, thank you for providing joy :)
Thanks so much for watching and the channel support!
Eye opening to see what I was told in 2020 would happen is happening . Uncomfortable to see, feel bad for the businesses that had to leave. Property taxes and rents, wages, electricity etc…. I saw a video on TH-cam last week that convent garden is mostly boarded up too. Thanks for this video and your attentiveness, observations.
Most people unless your in the 1% group, just can’t afford luxury good’s anymore. Quite luxury is the new thing and that means big names loose out. Great video Hannah 🎉.
I like the way you're prepared to look up above the shops at the sometimes fabulous architecture of the building above. My particular favourite is opposite the Dominion Theatre at Tottenham Court Road , it is, or used to be, Burger King below, now to let above. A wonderful rich red highly decorative building.
That silver rolls royce was a beauty....sad how the UK in general is declining so badly!
Hannah, don't worry about what anyone else thinks or wants, you do you!!! Stars never go out of style, wear them anyway!!!! Your hair looks amazing!!!! Love you💖!
I hate people who say ' you do you '
🙏 So sorry.
This is another great episode with a lot of stores closing there in London and it is about the same over here in the US with a lot stores and restaurants closing down mainly because of the economy and rising prices have a great weekend
Hannah and Thank You. 🇬🇧🙋♂️🇬🇧
I agree and in the U.S. it is more the malls and shopping strips closing. Mostly due to online shopping. Also the chain restaurants are having a harder time. The bright spot is that many U.S. city urban cores are having their own renaissance. More locally owned and unique shops and restaurants opening up as more people are moving back into the urban core. This is a good change!
Same as Chester,once a nice place to shop, now a coffee shop and fast food dump,lots of empty shops.
It is delighting to listen to you Hannah!
Love your channel, Hannah! London is my favourite city. Those mini balconies are called “french balconies”. 🇨🇦
The same thing happens here in Prague. We used to have the "honor" of having the most expensive retail street in Europe (rent wise). Now obviously you guys take the medal 😁 That street here looks pretty similar to what you've just shown now. I used to work in PR/marketing/operations in retail and I saw it coming long before the pandemonium. The brands became more and more greedy and shameless so it was just a question of time when people had enough and wouldn't be fooled anymore. The pandemonium made people reconsider their life values. And of course there's the eco friendly aspect as well. But the retail world as well as the property owners refuse to accept the change so they are learning the hard way. BTW another aspect that contributes to the situation are the cheap labor/slave labor scandals of the luxury brands. Dior recently? Anyways, I thank you for this informative video👍
Because u banned Russians who were buying all these luxury items... It's surely not all the Czechs buying all those APs n Rolex watches lol
@@neznamtija8081Pretty much the same as London then.
@@AnUrbanGypsy idk about London but Czech Republic is a neighboring county of mine so I picked up a thing or two about the state policy on certain matters
@@yorkiebilger7805 what r u on about ?! Who started a war in 🇱🇾 in 🇮🇶 in 🇦🇫 … oh wait … don’t be so gullible… ur enemies r not who u think they r 😘
@@yorkiebilger7805 Besides the fact that the reasons of the war in Ucraine are much deeper than the ones shown in the media like the BBc, The Guardian ecc ecc the russian riches may not be the ones to blame for the war, they could also be against it. So what is being done is purely discriminaiton. By banning Russinas you' ve lost a lot of money, though you still have Chineses and Arabs buying, they' re not buying for the Russians too, so luxury retails have lost money and a lot.
Have americans ever been banned fom shops? As they' ve done a lot of wars and so have English? What about wha' s happening in gaza then?
I've been watching your videos and thinking London had escaped the mass exodus of high end shops like San Francisco and even Los Angeles (mostly due to a combination of office closure from remote workers, increase homeless spilling into the areas, and increase in theft beyond shoplifting). Unlike London, we're talking major department stores, gone, likely relocated; moving into newly created suburbia. Hopefully London stays safe.
That Beatles performance is very famous-at least amongst us aging hippies. I can’t believe those shop girls were so obvious about checking your bag-so rude! I’m still seeing articles about how we aren’t really past the pandemic yet-and COVID gets the blame for many of the problems we are seeing today. You did say, though, that many of these stores have been shut for years, so it’s hard to say. Maybe the available places aren’t suitable for the companies that want to rent? Stores are closing various locations in the US too, but it’s all up and down the economic spectrum. Tough times, indeed. Thank you again for providing a bright spot for us! I really look forward to, and enjoy your videos! ❤
Ps ~ Congrats on your 200k Subscribers!!!! 🎇🎆🎇🎆
Hannah I love your vids! London is my fav place & I haven’t been for 18 years so seeing it through your eyes is wonderful. Ty ♥️🇨🇦
Just wanted to let you know how happy I feel for your e-tube success.....you are being recognized for your interesting, inteligent, insightful videos presented by as I"ve always said, a charming, articulate, beautiful young lady who also makes us smile and laugh at her natural, endearing and delightful opinions. Both you and your sister are an asset to England. You really should have your own T.V. show
Totally agree! ❤
Yes, these beauties should definitely have a program! They are both so lovely to look at!
Or a big part of some continent
No,because tv is lesser now. TV is the media loser now.
Hannah, this is insightful. It takes me down memory lane. I use study at The American College on Marylebone Lane. Sad to see what's happening on the streets that were iconic. Yes, brands are finding it very difficult across the world to find a viable business model. Over pricing is not going to work. You've got me thinking. ❤❤
I think one major contributor is many businesses didn't adapt during Covid years, now that's over but you have many customers who didn't return to in store shopping, add to that so many people still remote or not working all together (at least here in the US), more casual work place dress standards (or lack their of), and a host of other issues, crime and or economy in many places all add up to many businesses moving or closing doors. Even the construction going on can hurt businesses. I'm not sure how all of that London construction/renovation plays into that for those shops but if it interferes with customers easily accessing them, it could even play at least some factor into it. Many folks don't understand how small a profit margin many businesses, especially small businesses, operate off of and rent and employees eats up most of the operating expenses so it only takes a small hit to hurt, too many small hits to a small business can easily sink them. I believe it's a complex issue overall.
You' ve also banned the Russians who were the ones who used to spend a lot in luxury retail
Well said. Agree 100%
Hi Hannah - sometimes the faux balconies in architecture are called 'Juliet balconies'! They are cute especially in black colour. We have the same issues here in Toronto (Yorkville shopping area). Lots of reno work and closures too.
I’ve been walking down Bond Street off and on for 40 years and I think it’s fair to say its fortunes have waxed and waned BUT - I have just been in Munich, by no means the biggest German city and well to the south of the country, but there are all the BIG brands Hermes, Celine, Prada, you name it. I can’t imagine provincial British cities supporting those names somehow. London can’t keep its big names and the UK’s provinces have never had them. Sad state we’re in.
I think online shopping has hurt the retail business, in-store. Thanks for sharing Hannah❤
Thanks HANNAH for reminding me of New Bond Street and Old Bond from the 70´s. There weren't many famous brands but they were all high quality items. I hope they resurrect that beautiful area.
You are so close to 200k subscribers!
I think stores closing is common everywhere. Prices on everything too high. People are fed up.
Woohoo! Congrats on 200k!
You walk through all the areas I visit every weekend. Yes lots of shops are closing in Mayfair, Fenwick closed, economy is still not doing well. But I didn't know Victoria's Secret also closed, it must have been very recent.
A number of big fashion houses/conglomerates (Louis Vuitton, Dior, Gucci & Hermes to name a few) are even seeing a decline in their global sales
And it makes sense because the main group of consumers that actually keep their businesses afloat are not just the mega rich, it’s the middle and upper middle class people
And these people are feeling the squeeze too in this cost of living crisis & so it’s understandable other lesser known luxury shops are bound to be going through it
I feel that the shops are closed due to a lot of factors, high rents , homeless and beggars everywhere, it doesn’t feel special or safe to go to London shopping any more , I read today that in the first six months of this year , 300 watches have been stolen from people in central London alone , that would probably stop a lots of wealthy people going shopping , then you have the mobile phone thefts, knife crime , gangs etc etc , sad world we live in really
and the general public still is not cognizant of the online "army" - sabotage, disinfo - varying degrees of "actors" can put out fake stats like that, who knows - maybe it was really only 4 watches stolen - but the relative low cost of trolling online to instill fear and reluctance, in order to sway opinion to go somewhere else, is very real - and enterprising people using ai can utilize many possibilities without having to pay anyone else - i'll post a fresh up top of the whole thread - everybody should just watch the movie Surrogate to see one possible very near future scenario (movie is 15 years old i think) - as the bio-digital convergence blends ever more closer day by day ...and the Matrix reality unfolds - how about that, The Matrix now 1/4 century old! haha Vendetta Minority Report .... / would be amazing to have disposable income though to have a flat on one of those London streets we see here though - to make things work there should be Pacha/Amnesia boutique clubs competing every block and sort out the E, get people fit again and teach people manners and 4 Noble Truths , in a perfect world :) seriously there is so much great music and soundsystems yet an astounding dearth of places for people to enjoy - is there zero places to dance - appreciate music on the streets we see in this vid?
19:38 I never find your vlogs funny… they are my highlight every week and brings me sunshine in this “so-called” Summer 😊
Hi Hannah, love your look, outfit, makeup and hair, very elegant and classy as always - aside from here in Manchester, I’ve noticed on Charlie Veitch’s channel that luxury outlets here are growing, but the opposite seems to be happening back home in Ireland during my last visit home in October 2022 and looking around the Dublin shops - the U.K. cost of living crisis seems to be hitting London very hard, so I don’t quite understand how and why Manchester seems to be bucking this trend
Loved your commentary. Most amusing. You are fab.
Crime + inflation... people don't want to go out as much or travel to London with the high chance of getting robbed or stabbed... and they can't afford to buy the high end stuff as much anymore. Plus the proliferation of online sales since CV. :(
Agree. I think crime is playing its part.
I agree it's the fear of being robbed or worse.
Just go out and live your life
Fear mongering
Our lifes are mapped out
lol, it's not the fear of getting stabbed or robbed! The issue are the sky high rents and people are not spending as much, it's as simple as that! Westfield has also taken some of the business away as they also have these luxury stores there, all under one roof.
@@bennyceca No one is laughing when they're robbed or stabbed. Stabbings in London are so frequent that google started removing them from search results in US and other 'tourist locations' as it was becoming a meme. Robbery is so frequent that society has had to modify everyday behaviors to avoid rampant pickpockets and purse theft. These conditions are not just from ONE THING, mate.
Notice no foot traffic of interest. Can't stay open without customers
Bingo! The winds of change have hit them, I'm in Canada (much less fancy and stylish than London lol) and the same thing has happened here. Keep in mind, the luxury stores are few and far between but are STRUGGLING. I'm sure those that can afford are still buying some luxury items but the rise in crime and violence has probably led them to do so from the comfort of their homes.
it's unsafe for women
Another great video Hannah. I am an online shopper now as I have limited mobility and use a walker to walk. I used to love going into retail stores just to look around even if I wasn't buying anything. Inflation is worldwide now - people aren't buying as much. And of course the online businesses I'm sure is playing a part. Take care Hannah. Have a good weekend.
I was a student there 50 years ago. Loved shopping at Oxford street and going to Speakers Corner on Sundays. Bring back memories but yeah it looks different.
Back in the 80's my friend and i went from the barn to a department store in Arizona to pick up a dress. The sales staff looked down on us and were so rude. She used a phone and called her mom( no cell phone back then). Suddenly, the general manager came down and started doting on her. He shooded the sales staff away. Yeah, her family owned the store and a whole lot more.
That’s so funny that the store staff looked at your bag. 🤣🤣🤣But I loved seeing the street and the shops and architecture, and your informative commentary! Have a wonderful weekend!☺️