The O2 sales increase 10% in H1
Outlet shopping saw a 15% sales increase bolstered by the recent openings of Castore and All Good Things, while the Entertainment District has reported an 8% growth in sales
The O2 has revealed that it has seen a 10% increase in sales and a 15.5% uplift in footfall during the first half of the year.
The destination also saw a 15% increase in sales for Outlet Shopping at The O2, bolstered by the recent openings of Castore and All Good Things, both of whom made their London outlet debuts at the destination, as well as Soletrader who opened their new store at the destination last week.
Café Mint, a brand new independent coffee and cake operator, has also opened its first site within the upper level of the outlet.
The Entertainment District has reported an 8% growth in sales, which achieved fully let status earlier this year with the arrival of pan-Asian cuisine operator, Chopstix.
Standout categories included beauty, which achieved a sales growth of 23%, strengthened by brands such as The Cosmetics Company Store, who have added The Ordinary and and an extended product range from Jo Malone to their offering, premium skincare clinic Aatma Aesthetics, and Clarins who offer in-store treatments.
Sportswear also exceeded year-to-date growth, welcoming an increase of 33% with the recent arrivals of Castore and Under Armour, and anchor brands Nike and adidas.
The results follow a recent report by The O2, working with CACI, on the emergence of “social spending” at the destination, a trend that will likely be seen in other locations as consumers increasingly focus their time and money on places that facilitate social interaction.
Janine Constantin-Russell, managing director of the Entertainment District and Outlet Shopping at The O2, said: “2024 has been a fantastic year so far. The destination is firmly established amongst Londoners and visitors to the capital alike, with the unique totality of our offer having huge appeal. This is not only leading to really strong and sustained performance across a range of key performance metrics, but is driving demand among brands too. They are recognising the importance of ‘social spending’ and that The O2 is the perfect place to facilitate it.
“Looking ahead to the next six months, we will continue to evolve our offer, signing exciting new brands, adding even more engaging experiences, and ensuring The O2 remains London’s favourite place to bring people together, with all the positive impact on performance that brings.”
