The O2, the world’s most popular live entertainment, leisure and retail destination, has had its best year ever for sales and footfall. These standout results have been bolstered by significant leases in the entertainment area and Outlet Shopping at the O2, as well as the growing importance of ‘social spend’, and reinforce The O2’s position as the market-leading retail and leisure destination in the UK.
A record year in the entire destination:
·O2 welcomed a record number of visitors through its doors in 2024, with more than 10 million visitors – an increase of 12% compared to 2023
· Retail, leisure and food and drink sales increased by 6%, marking O2’s best ever trading year
Double-digit growth in retail, boosted by a great Black Friday weekend:
·Outlet Shopping at The O2 ended the year up 10% on last year with standout trading periods, including Black Friday, with the three-day weekend (29 November to 1 December) among the destination’s top five sales days. and a 16% increase in comparable sales for the entire week (November 25–December 1) compared to 2023
·The retail hotspot also welcomed more than 31,000 sq ft of new brands in 2024, including All Good Things, Clarks, Bedeck, Castore and Soletrader, as well as several renewals for existing tenants such as Le Creuset, Whittard and Clarins.
Leisure and F&B continue to thrive thanks to an innovative leasing approach:
· O2’s entertainment district sales increased by 3% compared to 2023 figures, when leasing was completed in February 2024
· Grab and go dining remained a prominent F&B category, growing by an impressive 14% to 2023, boosted by new openings such as Chopstix and Slim Chickens. The destination will also welcome KFC in the coming months, adding to the list of domestic names
·Leisure operators enjoyed 8% growth compared to last year, driven in part by new additions such as Activete, which launched its first UK site at the destination in 2024, and nimble leasing, which saw the team use previously unused space at Padel Social Opening of the Club and Clip ‘n Climb
Janine Constantin-Russell, Managing Director of O2 Entertainment and Outlet Shopping, said: “We’ve consistently shown what a success story the O2 is, not just for tenants and operators, but also for visitors. We always buck the national trend, whether it’s footfall, sales or overall opinions, and we go above and beyond on every level to ensure that we are the destination of choice that meets the wants and needs of every individual consumer.This year is also highlighted how important ‘social spend’ is to the success of a destination, and as the results show, it has a significant impact on every part of our Offer.
“The year 2025 will bring even more opportunity to show how great we are in exceeding these national benchmarks. We will continue to deliver and invest in a unique destination that brings people together with an exciting and engaging offering that will remain relevant as consumer behavior changes.”
These results contribute to a stellar year at The O2 in 2024, with the arena achieving a record consecutive year of ticket sales with over 2.6 million tickets, maintaining its position as the world’s busiest live entertainment arena. Looking ahead to 2025, The O2 will host the world’s first Formula 1 event in February to mark the opening of the upcoming season, as well as an exclusive UK residency with global superstar Usher, who will bring his highly anticipated tour to The O2 for a 10-night run in April.
