O2 gets off to flying start in 2024 as outlet shopping continues to hit the spot

London’s O2 entertainment district and outlet shopping mall has got off to what it says is its strongest ever start to the trading year “with stellar results throughout January and February, including half-term, resulting in the destination expecting to top 2023’s record-breaking year of results”.

The complex, which is owned and operated by Waterfront Limited Partnership, a joint venture between AEG and Crosstree Real Estate Partners, includes a major outlet mall as well as one of Europe’s most popular entertainment venues.

It attracted over 1.5 million visitors from 1 January to 25 February, a 46% increase year on year.

And Outlet Shopping at The O2 saw an uplift of 18% in sales versus the same period in 2023, “bolstered by the sample sales of British fashion retailer Hackett, and purpose-led fashion brand, Scamp & Dude”.

The recent half-term week mid-month was “exceptionally robust” with outlet sales up 54% and an average transaction value uplift of 13%.

The latest performance came after the mall had seen a record-breaking Christmas period performance and further emphasises the strength of the overall outlets sector.

Other discount destinations such as London Designer Outlet, Gunwharf Quays and the hugely popular Bicester Village have shown how popular discounted goods are in the UK across all price points, while Via Outlets’ centres have demonstrated the same for mainland Europe.