GO
Loading...

Enter multiple symbols separated by commas

Foreign Shoppers Invade Posh U.S. Stores

America is seeing a British invasion – as wells as Japanese and Brazilian ones – in its retail stores.

CNBC’s Margaret Brennan reported on “Morning Call” that international travelers are swarming over the U.S. this holiday season. As the U.S. dollar drops versus the euro, the yen and the British pound, America is becoming the destination of choice for luxury shoppers.

And not just well-heeled businessmen. Brennan reported that “more and more families” are visiting the U.S. on vacation. She quoted a Commerce Department study that said that shopping has become the No. 1 recreational activity for global tourists hitting favorite American destinations – even more popular than dining out.

And what are those tourists buying? Mostly snappy apparel and designer jewelry, Brennan says. So don’t be surprised if there are long lines at New York City staples like Tiffany and Cartier, Saks signature Fifth Avenue shop and Federated Department Stores' unit Macy’s.

Retail

Latest Special Reports

  • Financial Advisor

    CNBC looks at how technology, product development, succession plans and client relations impact financial advisory firms.

  • Waitress tablet

    Trailblazers leveraging the power of technology and innovation to grow their business—and disrupt the competition.

  • Is an active twist on passive investing the right portfolio move? An inside look at the rise of ETF strategists.