London Designer Outlet (LDO) at Wembley Park proudly announces its best-ever trading day on Boxing Day, catapulting total sales for 2023 to an impressive £99 million.
The Boxing Day sales hit a historic high, contributing £866,000 to the total. December proved to be a robust month, recording £11.2 million in sales. Notably, footfall on December 26th witnessed an 11% year-on-year increase, highlighting a strong inclination for in-person shopping over online alternatives.
LDO’s operator reports this as the best Christmas week since its inception in 2013, emphasizing the resilience and appeal of premium and high-end off-price destinations. This trend extends across various locations, from large cities to out-of-town sites and even rural destinations, exemplified by the success of renowned spots like Bicester Village.
Consumers are evidently drawn to quality while still seeking substantial discounts, a sentiment reflected in the exceptional performances of LDO’s individual tenants. Fourteen brands, including Calvin Klein, Moss, and Levi’s, achieved record-breaking Boxing Day sales during the festive period. The North Face saw a remarkable 34% year-on-year sales increase, while Tommy Hilfiger experienced a 30% rise following store upsizes and upgrades.
Matt Slade, Retail Director at LDO owner Quintain, expresses enthusiasm for the remarkable performance in 2023. He underscores the appeal of «premium brands at accessible prices» and the ability to cater to shifting consumer priorities by providing premium shopping experiences at discounted price points. The success of LDO reflects a dynamic retail landscape, combining quality, discounts, and a commitment to meeting evolving consumer expectations.
