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The O2 hails record breaking year of trade

The Entertainment District and Outlet Shopping at The O2 have been celebrating a record breaking year of trade in 2023. The O2 destination welcomed over 8.9… View Article

GENERAL MERCHANDISE NEWS

The O2 hails record breaking year of trade

The Entertainment District and Outlet Shopping at The O2 have been celebrating a record breaking year of trade in 2023.

The O2 destination welcomed over 8.9 million visitors in the year to mark a year-on-year uplift of 17% and saw its sales increase by 31%.

Meanwhile, Outlet Shopping at The O2 enjoyed consistently strong trading results throughout 2023, with a 25% rise in weekly average sales and an average spend increase per customer of 6%. It was also boosted by a record-breaking Christmas period when like-for-like sales rose by 14% on December 2022.

New brands to join the scheme in 2023 included Under Armour, French Connection and Carvela. There were also several significant upsizes from long-standing tenants  Tommy Hilfiger and Calvin Klein, Lids and Levi’s.

Louisa Dalgleish, leasing director at Outlet Shopping at The O2, said: “2023 was a standout year for us. We demonstrated our ability to actively engage with and listen to our visitors, and work collaboratively to identify growth opportunities for existing tenants, whilst securing high-quality brands that resonate with our visitors, and the results speak for themselves.

“Whilst we look forward to building on this success in the new year, we’re not a destination which sits still, and we are confident of taking Outlet Shopping at The O2 to new heights in 2024.”

The Entertainment District and Outlet Shopping at The O2 are owned and operated by Waterfront Limited Partnership, a joint venture between AEG and Crosstree Real Estate Partners.

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