Realm has released impressive year-end figures proving that outlet centres remained a compelling and attractive proposition for both consumers and retailers throughout 2017, with the crucial Q4 festive trading period ending with a flourish.
Realm saw total sales rise by 11.3% across their managed assets in the last two weeks of December, whilst average spend values rose by 6.2%. This was despite Christmas Eve falling on a Sunday and therefore being subject to reduced trading hours.
Colin Brooks, Managing Director of Realm, commented:
“Last Christmas, 2016 gave sales a natural boost as there were two bank holidays due to Christmas Day being on a Sunday and without this following wind, 2017 spending still rose sharply across the portfolio. For the second half of December, total sales saw double digit increases of 11.3%, showing that the poor pre-Christmas weather did little to dampen appetite for outlet retail.“
“Outlet shopping remains an attractive and relevant proposition to both consumers and retail brands, with many of our occupiers continuing to invest more into their outlet shopfits, making them consistent with their full-price operations. With constantly varying merchandise, outlets appeal to modern, price-conscious consumers who like to visit stores with a more open mind and sense of discovery. This less functional perspective of our shoppers provides some immunity to online sales and provides hard evidence that the physical store is far from dead, and we expect this broad appeal of outlets to continue to develop.”