High street braced for a £4bn boost

AROUND seven million shoppers are expected to descend on high streets across England tomorrow as a spending spree gets under way.

The retail sector is set for a muchneeded £4.5 billion boost this week alone as ‘non-essential’ outlets reopen for the first time since the third lockdown came into force.

With households having built up almost £160 billion in excess savings in the past year, experts at the Centre for Economics and Business Research say as much as £45.5 billion is earmarked for spending – with much of it set to go across shop counters during the summer.

Over the weekend, major retailers have been arranging window displays and putting the finishing touches in place.

As well as reopening for standard shopping, bosses at Selfridges are set to offer out-of-hours children’s parties and private screenings in its Oxford Street store.

Meanwhile, a new Hermès boutique and a men’s Givenchy pop-up space will open at Harrods in Knightsbridge.

Michael Ward, managing director at Harrods, said: ‘ We are so delighted to be welcoming customers back in-store for some welldeserved magic.’