Springfields Outlet posts 15th year of consecutive growth
today Jan 9, 2020
Springfields Outlet in Lincolnshire had a stellar 2019 despite the continued tough trading conditions in the UK retail market, recent footfall and revenue numbers have shown.
The 200,000 sq ft outlet centre, home to many well-known retail brands such as Crew Clothing, Joules, Gap, TM Lewin and Radley, describes itself as the leading shopping and leisure destination in the East of England.
The numbers support its credentials. During the Christmas school holidays, from 19 December to 5 January 2020, total revenue increased by 2% compared to the same period in 2018. The most successful week saw retailers report a 12% uplift in sales, and the centre had its busiest Boxing Day sale launch ever with 40% of LFL retailers reporting double-digit increases.
Across the calendar year, both revenues and footfall grew by 2% compared with 2018. And the centre had a record-breaking Black Friday week, with individual retailers trading up to 51% on a like-for-like basis.
The positive performance is a bright spot that stands out from a sea of bad news for UK retail. Economic and political uncertainty, rising business costs and cautious consumer spending have hit many retailers and retail destinations in the past year, and the first festive trading updates from Marks & Spencer and John Lewis this week show the losing streak could continue into 2020.
How has Springfields Outlet managed to keep shoppers coming back for more? It said its regular programme of consumer activities has played a role, including Wonderland Walk, a free immersive light experience set in the onsite Festival Gardens, a Christmas Grotto, and frequent offers and competitions.
Ian Sanderson, director at SLR which developed and asset manages the scheme, said: “We’re proud to have achieved 15 years of consecutive turnover growth, especially within the existing retail climate.
“Our integrated leisure offer has helped to really support our positioning as a destination. This has been supported further by the array of family-friendly seasonal activities over the past six weeks and further technical developments of our Springfields VIP app.
“All of which has helped us to stand-out as the destination of choice for the location catchment and provide a memorable Christmas experience that has been reflected in the strong footfall and trading stats.”
The outlet centre is planning to build up to 19 new retail and casual dining units as part of an £18m expansion over the next few years.
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