In a recent report, O2’s outlet mall, situated in The O2 entertainment district in South London, has achieved remarkable success in 2023. This achievement underscores the growing correlation between entertainment, leisure activities, and the fashion retail sector.
The Entertainment District and Outlet Shopping, both owned and operated by Waterfront Limited Partnership, have formed the “world’s most popular combined live entertainment, leisure, and retail destination.” The district witnessed an impressive surge of over 8.9 million visitors in 2023, marking a significant 17% increase compared to the previous year. Furthermore, the outlet mall experienced robust double-digit growth in sales.
The outlet mall observed a remarkable 25% rise in weekly average sales, along with a 6% increase in average customer spending. Notably, there were substantial spikes in sales during the Easter half term and Black Friday weekend. Sales during the Easter half term in 2023 escalated by 63% in comparison to 2019, while sales during the Black Friday weekend grew by 27% compared to 2022.
Although the surge in like-for-like sales during the Christmas period was not as significant, with a 14% increase compared to December 2022, it still exhibited positive growth. Moreover, Boxing Day sales skyrocketed by 33% compared to the previous year, setting a new record for the mall. Overall footfall in December witnessed a rise of 19% compared to 2022 and 14% compared to 2019.
These optimistic results can be attributed to the introduction of several prominent brands. Under Armour made its debut at the London outlet, French Connection established its first outlet store in over six years, and Carvela also marked its presence at the mall. Upsizes by Tommy Hilfiger and Calvin Klein, with their stores expanding by more than 110% and 87% respectively, also contributed to the mall’s success. Lids and Levi’s similarly enlarged their footprint within the mall.
The accomplishments of O2’s outlet mall in 2023 establish it as a year-round, day-to-night retail, leisure, and entertainment destination. The increasing synergies among these elements create an immensely attractive spot for visitors seeking a diverse and immersive experience. As the mall continues to lure renowned brands and expand its offerings, it is expected to witness further growth and success in the future.
Useful links:
1. The O2 Official Website
2. French Connection Official Website
