Springfields transactional spend rises despite lower reopening footfall
Footfall, as well as transaction numbers and values, are being closely watched as UK non-essential stores reopen and while overall traffic and transactions are down, it seems that some locations are seeing those shoppers who do turn up spending more money than expected.
Springfields Outlet and Leisure in Lincolnshire “has once again demonstrated its resilience,” its operator said, with average transactional spend having increased by 11% across the three quarters of stores that have reopened since June 15. And fashion has been particularly strong.
Not that the recovery is fully under way just yet. Footfall in the first week of trading was running at only 61% of the same week in 2019. And those retailers that were open achieved only 70% of last year’s total revenue overall. Yet more than half of the retailers that were open, achieved better trading results than the same period last year, with over a quarter achieving a double-digit percentage increase.
Categories including fashion, footwear and home and garden at the location performed particularly well and reported increased revenue.
Ian Sanderson, Director at SLR, which developed and asset manages the scheme, said: “Tenants that reopened in the first two weeks at Springfields have traded well above their own expectations. The scheme has attracted visitors back quickly as we’re able to offer an appealing, spacious and well managed outdoor environment.”
Springfields has several advantages that should help it appeal to post-Covid consumers. Money may be tight but it’s operating in the outlet sector that has been hugely resilient in recent years. And its 200,000 sq ft size and outdoor setting also make it easier to adapt to social distancing measures and to help consumers feel confident about travelling there.
The outlet mall includes a raft of fashion stores such as Jack Wills,Crew Clothing, Radley, Next, Skechers, Gap and M&S. And this summer, Dune London and Lazy Jacks will also open there.
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