NextJS - Download XLS file from external API

Question

My external API returns the following when I make a GET request:

"PK\u0003\u0004\n\u0000\u0000\u0000\u0008\u0000f��T���\tY\u0001\u0000\u0000�\u0004\u0000\u0000\u0013\u0000\u0000\u0000[Content_Types].xml��Mn�0\u0010��=E�-J\u000c]TUE¢��\u0016��\u0000�xB,\u001c���w\u0012(�* �`\u0013+�7�{��\u0019O��I�\u0018H;��Q6\u0014\t��)m\u0017������\"�\u0008V�q\u0016s�C\u0012��n<�y���-墎�?IIe�\rP�<Z�T.4\u0010�6,��r\t\u000b����,��hc\u001a[\u000fQ��X����eˏ�A\u0002\u001a\u0012��^زr\u0001�\u001b]B�\\[���\u001e\u0008\u0019wv\u001a���\u0001\u000b�<Ih+�\u0001��w�L�\n�\u0019��\u0006\r���ȍ\u000b�/…u0000f��T�v�^_\u0001\u0000\u0000�\u0002\u0000\u0000\u0011\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000�\u0012\u0000\u0000docProps/core.xmlPK\u0001\u0002\u0014\u0000\n\u0000\u0000\u0000\u0008\u0000f��T�\u0005s>[\u0001\u0000\u0000r\u0002\u0000\u0000\u000f\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000\u0000e\u0014\u0000\u0000xl/workbook.xmlPK\u0005\u0006\u0000\u0000\u0000\u0000\u0010\u0000\u0010\u0000�\u0003\u0000\u0000�\u0015\u0000\u0000\u0000\u0000"

This is supposed to be my XLS file. At the moment I process it as follows with Axios:

  ...then(response => {
    const url = window.URL.createObjectURL(new Blob([response.data.result]));
    const link = document.createElement('a');
    link.href = url;
    link.setAttribute('download', `EventID-${response.data.result.eventId}_${dateFormat(Date.now(), 'dd-mmm-yyyy')}.xls`);
    document.body.appendChild(link);
    link.click();
  }, errorHandler);

Although this returns an Excel file with an [Object object] column. How can I convert the response to a proper Excel file?