The O2 has recorded its best-ever year for sales and footfall. These standout results have been strengthened by significant leasing across the Entertainment District and Outlet Shopping at The O2, as well as the growing importance of ‘social spending’, and reaffirm The O2’s position as a market-leading retail and leisure destination in the UK.
A record-breaking year across the destination
The O2 welcomed a record number of people through its doors in 2024, with over 10 million visitors – an uplift of 12 percent compared to 2023. Sales across retail, leisure and F&B saw an overall increase of six percent, marking The O2’s best-ever year for trade
Double-digit growth for retail, fuelled by a stellar Black Friday weekend
Outlet Shopping at The O2 finished the year 10 percent up on last year’s sales, with standout trading periods including Black Friday, with the three-day weekend (29thNov – 1st Dec) sitting in the destination’s top five sale days of the year, and the full week (25th Nov – 1st Dec) reporting a 16 percent like-for-like sales uplift compared to 2023. The retail hotspot also welcomed over 31,000 sq ft of new brands in 2024, including All Good Things, Clarks, Bedeck, Castore, and Soletrader, alongside 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
The O2’s Entertainment District experienced a sales uplift of three percent compared to 2023 figures, having achieved full leasing completion in February 2024.
‘Grab and go’ style dining remained a prominent F&B category, with figures up an impressive 14 percent versus 2023, and bolstered by new openings including Chopstix and Slim Chickens. The destination is also set to welcome KFC in the coming months, adding to its roster of household name brands.
Leisure operators enjoyed growth of eight percent versus last year, driven in part by new additions like Activate, who launched their first UK site at the destination in 2024, and an agile approach to leasing, which saw the team make use previously unused spaces for the openings of Padel Social Club and Clip ‘n Climb.
Janine Constantin-Russell, Managing Director of the Entertainment District and Outlet Shopping of The O2, said: “We have consistently demonstrated just what a success story The O2 is, not only for tenants and operators, but visitors too. We are always bucking the national trend, whether it’s footfall, sales or general sentiment, and we go above and beyond at every level to ensure we are a destination of choice that suits the wants and needs of every single consumer. This year has also highlighted how important ‘social spending’ is for a destination to thrive, and as our results show, it has a significant impact across every element of our offer.
2025 will bring even more opportunity to showcase how brilliant we are at surpassing those national benchmarks. We remain steadfast in delivering and investing in a one-of-a-kind destination that brings people together with an exciting and engaging offer, maintaining its relevance as consumer behaviours continue to shift.”
These results contribute to what was a mammoth 2024 at The O2, as the arena recorded a consecutive year of record-breaking ticket sales with over 2.6 million tickets sold, maintaining its position as the world’s busiest live entertainment arena. Looking ahead to 2025, The O2 will host a world-first event with Formula 1 in February to mark the launch of their upcoming season, as well as a UK exclusive residency with global superstar Usher, who will be bringing his hotly anticipated tour to The O2 for a 10-night run in April.