In the first few weeks of 2023 retailers at Liverpool ONE see sales rise more than three times the national rate. Tony McDonough reports
Retailers in Liverpool ONE have enjoyed a year-on-year sales rise 16.5% in the first few weeks of 2023 – more than three times the national figure of 5.2% (British Retail Consortium).
And the retail and leisure complex, owned by Grosvenor, has also seen a year-on-year rise in footfall of 6.5%. It is predicting this will rise to 8% in the spring with Eurovision expected to boost visitor numbers to the city.
In February figures from Liverpool BID Company, which covers Liverpool’s retail core excluding Liverpool ONE, showed 78.5m people visited Liverpool city centre in 2022 – a rise of 64.6%.
Liverpool ONE is attributing the strong performance so far and the forecasted increases to the number of major brands investing and opening new stores at Liverpool ONE. Recent arrivals include Under Armour, Charlotte Tilbury and Bershka.
Iain Finlayson, estate director at Liverpool ONE, said: “We have seen a good start to the year, with a 16.5% sales increase that we can attribute to the excellent performance of 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 that our strong sales and footfall levels continue during 2023.
“We are still in a very challenging period as people become more cautious with their spending and tighten their purse strings that little bit more.”
This year will also see iconic Liverpool fashion retailer Cricket opening in Liverpool ONE for the first time. However, the complex will also see the closure of the H&M-owned ARKET in Paradise Street, as revealed by LBN in January.
Iain added: “We are optimistic of the expected boost by Eurovision, as well as remaining confident that the continued strong mix of brands and experiences to suit all budgets will certainly help continue this positive performance trend.”