Liverpool retail centre outperforms national sales trends and predicts footfall growth
Liverpool One has seen a double digit increase in sales since the start of 2023, compared with the same period a year ago.
The 16.5% increase outperforms the national figure of 5.2% in sales recorded across the country, according to the latest BRC data.
The city centre retail site, owned by property group Grosvenor, has also experienced a 6.5% increase in footfall for the year to date, versus 2022, and is forecasting an increase of around eight per cent in the run up to summer as the city prepares for the Eurovision Song Contest in May.
Iain Finlayson, estate director at Liverpool One, said: “We have had a good start to the year, with a 16.5% sales increase that we can attribute to the excellent performance across our stores, especially among footwear, sports and leisure and beauty.
“We have continued to strengthen not only the retail offering, but also brought new additions to our hospitality and leisure options, with cafés, in particular, outperforming the sales average.
“Despite being very mindful of the economic landscape and how the cost-of-living crisis could impact us, we are pleased to see 2022’s strong sales and footfall levels continue into 2023, making Liverpool One one of the best performing retail and entertainment destinations in the UK.”
He added: “While we are still in a very challenging period as people become more cautious with their spending, we are optimistic of the expected boost from Eurovision, as well as remaining confident in our strong mix of brands and experiences to suit all budgets.
“With more brands preparing to open their doors at Liverpool One, the future looks bright in uncertain times for the UK.”
The out-performance is reflected in unprecedented demand for Liverpool One among leading UK and international brands.
In 2022, 36 brands, totalling more than 330,000 sq ft, signed, renewed or regeared at the destination, with highlights including Under Armour, Charlotte Tilbury, Omega, Russell & Bromley, Rituals, Slim Chickens, size?, Black Sheep Coffee and Bread Street Kitchen.
In addition, Gravity is currently fitting out its £10m 100,000 sq ft leisure and entertainment destination, while M&S is readying its new 100,000 sq ft flagship, both of which occupy the former Debenhams at Liverpool One and will open later this year.
Metis and CBRE are Liverpool One’s retail leasing agents, while Metis and Stärka act on the leisure and hospitality leasing.