New brands see O2's sales sky rocket to 'record-breaking year of trade'

Outlet Shopping at The O2 has reported a record-breaking year of trade as more shoppers turn to outlet offerings in the hope of finding branded bargains. 

The shopping hotspot, which first opened its doors in 2019, welcomed over 8.9 million visitors in 2023 (up by 17% compared to 2022). The increased footfall is reflected by a sales increase of 31% compared to like-for-like trading days in 2022.

Throughout the year, it saw a 25% rise in weekly average sales and an average spending increase per customer of 6%.

The destination ended the year on a high with a record-breaking Christmas period, seeing like-for-like sales up by 14% and Boxing Day sales up by 33%. These record-breaking sales are mirrored by the rise in footfall across the whole destination throughout December, which was also up 19% vs 2022, and up 14% vs 2019.

These results were bolstered by a wave of incoming brands such as Under Armour and French Connection joining the lineup. There were also several upsizes from long-standing tenants, including Tommy Hilfiger and Calvin Klein.

Louisa Dalgleish, Leasing Director at Outlet Shopping at The O2, commented: "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 positive performance of the Outlet Shopping at The O2 is bolstered by the success of The O2 Arena. 2024 is set to be another exciting year of headline performances, such as Take That, Girls Aloud, and Olivia Rodrigo, which are sure to attract shoppers to the destination.