London Designer Outlet sees January boom
London Designer Outlet (LDO) more than continued its strong run of sales into 2023, “recording the best January performance on record… as price-conscious consumers boosted revenues”, Quintain, owner of the Wembley Park mall, said Tuesday.
That translates into sales totalling over £6.5 million for the month, up 27.6% on 2022 and up 14.6% on pre-pandemic 2019. What’s more, the average transaction value (ATV) was up 17.8% in January versus pre-pandemic levels.
For good measure, mixed fashion made up the highest percentage of sales (+27%), followed closely by sports (+22%), “spurred on by the recent upsizing's and flagships stores available at the LDO”.
“The figures demonstrate price-conscious consumers’ demand for deals and solidifies the enduring outlet model in the continued face of the cost-of-living crisis and savvy shoppers hunt for ways to save money on their favourite purchases, with LDO offering year-round savings of up to 70% off RRP,” we’re told.
The ATV rise was “bolstered by the introduction of a number of major store upgrades”, including new flagship concepts from Adidas, Nike, Calvin Klein and Tommy Hilfiger, and the arrival of new brands, including The Cosmetic Company Outlet.
Matt Slade, Retail Director at Quintain, said: “It is reassuring to see a continued strong sales performance as we kick off 2023. This record-breaking January follows an equally record-breaking December, demonstrating the significance of perceived value.”
He added: “Over the past year we have introduced a host of new brands and retail experiences to LDO. This gives our guests access to a quality shopping experience, akin to full-price destinations, but with the added benefit of outlet prices.”
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