The O2 enjoys record year of trading in 2023

3rd January 2024 | Jack Oliver

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

Over the year, The O2 saw over 8.9 million visitors pass through its doors, a year-on-year increase of 17%. The destination recorded an increase of sales of 31% compared to like-for-like trading days in 2022, with Outlet Shopping and the Entertainment District up 25% and 34% respectively.

A total of 18 brands – taking over 61,000 sq ft of retail, leisure, and F&B space – joined the O2 during the course of 2023.

Throughout the year, Outlet Shopping saw a 25% increase in weekly average sales and an average spend increase per customer of 6%. Highlights included a 63% increase in like-for-like outlet sales during the Easter half term compared to 2019, as well as increases of 19% and 27% during the October half term and the Black Friday weekend respectively versus 2022. The outlet shopping destination also ended the year with a record-breaking Christmas period, with a like-for-like increase in sales of 14% compared to December 2022, and Boxing Day sales up by a third.

The results were bolstered by number of new arrivals including Under Armour, French Connection, and Carvela. A number of retailers upsized their existing presence during 2023, such as Tommy Hilfiger, 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 centre’s Entertainment District also celebrated a strong year, reporting a 54% increase in like-for-like sales versus 2019 during the Easter half-term, a 40% sales increase during October half term compared to 2022, and a December which saw sales up by 28% compared to 2022 and up 82% compared to 2019.

The Entertainment District welcomed new arrivals such as JD Wetherspoon’s ‘The Stargazer’ pub, Afrikana, and Chipotle. Leisure openings included iFLY Indoor Skydiving, whilst Padel Social Club announced its signing to the destination.


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