Outlet Shopping at The O2, situated within the bustling O2 Entertainment District in South London, achieved extraordinary success in 2023, highlighting the growing synergy between entertainment and fashion retail.
As a key player in the Waterfront Limited Partnership, the Entertainment District and Outlet Shopping collectively stand as a leading global destination for live entertainment, leisure, and retail experiences.
Delving into the numbers, the district celebrated a remarkable surge, welcoming over 8.9 million visitors in 2023, marking a stellar 17% increase compared to the previous year. The outlet mall witnessed robust double-digit growth in sales, with 18 new brands contributing to over 61,000 sq ft of retail, leisure, and F&B space. This expansion solidified its reputation as a year-round, day-to-night destination.
The mall boasted a notable 25% rise in weekly average sales, complemented by a 6% increase in average customer spend—an encouraging trend. Certain periods, such as the Easter half term and Black Friday weekend, stood out with substantial peaks.
During the Easter half-term, there was a remarkable 63% surge in like-for-like outlet sales compared to 2019, while the Black Friday weekend witnessed a 27% increase from 2022.
Turning attention to the festive season, the outlet shopping destination experienced a commendable 14% like-for-like sales uplift in December 2023 compared to the same period in 2022. Boxing Day sales surged by an impressive 33% from 2022, establishing a new record for the busiest trading day. The overall footfall across the destination in December also recorded a substantial uptick, rising by 19% compared to 2022 and 14% versus 2019.
This success followed strategic store openings, including Under Armour’s debut in the London outlet, French Connection’s first outlet store in over six years, and Carvela’s inaugural presence in the mall. Upsizing played a pivotal role, with Tommy Hilfiger and Calvin Klein expanding their stores by over 110% and 87%, respectively. Lids and Levi’s also expanded their footprint within the thriving O2 retail destination, making it a prime hub for shoppers seeking a unique and diverse retail experience.
