London is all set for 2020's Chinese New Year celebrations, a time that represents prosperity for many revelers. 

And that prosperity appears to be extending to the UK's retail industry.

The Lunar New Year falls on 25 January and is followed by 15 days of celebrations. After Christmas and New Year, it is typically a quiet time in London for shops, restaurants and hotels, so the Chinese festivities are seen as a great opportunity for retailers. 

"At this time of the year we always have an increasing number of customers from China," says Gabi Russo, store manager of the coffee and tea retailer Whittard of Chelsea. Adding: "Sales in the past two years have been very impressive."

Whittard is just one of many shops in London to cater for Chinese consumers by offering exclusive products and adorning their window displays with bright red decorations. And in the capital, it is helping to capture the attention of passing shoppers.

"We know from local retailers that they say their sales go up," says Georgina Warren, the head of city events and experience at London & Partners.

"In terms of visitors demographic, it is very strong, with family groups, big groups coming in, going to the event, going off to the West End into Chinatown and beyond, and spending money."

This year, the Chinese New Year celebrations in London are set to be the largest outside Asia, with festivities at Trafalgar Square expected to bring in a crowd of 700,000 people.

As locals and visitors alike prepare to say goodbye to the Year of the Pig, it's a welcome time for businesses to get that extra economic boost to ring in the Year of the Rat.