Peel Retail & Leisure has announced another record period of sales and footfall performance at Gloucester Quays, up +11% and +7% respectively. The top 10 UK outlet is also celebrating its 15th Anniversary, going from an exciting new destination in the South West when it launched in 2009, to establishing itself as one of the best performing in the country, and the dominant retail and leisure hub in the historic City of Gloucester.
Covering April 2023 to March 2024, Gloucester Quays benefitted from a significant sales uplift when compared with the previous year. Leading the performance increase was the destination’s retail offer, with double-digit growth at +12%, bolstered by exciting leasing in that time, as international powerhouse brands Next and Puma were added to the scheme, alongside upsizes for the likes of Mountain Warehouse, Hallmark and Yankee Candle.
Gloucester Quays’ F&B also increased revenue year-on-year, the +9.5% rise supported by the addition of new Turkish restaurant brand Anatolian Palace. While restaurants generated a sales uplift of +6.6%, it was the outlet’s coffee shops that showed the most growth at +17%, pointing to longer dwell time and headroom at the destination for this category, while highlighting the increasing importance of cafes as part of an all-day, shopping experience.
Meanwhile, the +7% footfall uplift indicates the increasing relevance of an outlet shopping and dining experience for Gloucester Quays’ vast local and tourist catchment. The positive change to visitor numbers was outperformed by the +11% sales boost, suggesting that not only is the top 10 UK outlet attracting more customers, but higher average spend as well. This is further evidenced by car park use, which was up +14% on the previous year.
Footfall growth and increased car park use is no doubt connected to Gloucester Quays’ unmatched, free-to-attend, all-year events calendar and waterside location. With the 15th Anniversary celebrations taking place over the next 12 months, the destination is set to increase its appeal to customers and brands alike.
Paul Carter, Asset Director at Peel Retail & Leisure, commented: “This time last year, we were celebrating a +6% increase in sales, in the context of a challenging retail environment. Now, we have raised the bar again, the +11% sales and +7% footfall increases are a clear indication that our visitors are dedicated to spending their time and money at Gloucester Quays. As an established, top 10 UK outlet with consistent growth, we are committed to taking this customer experience even further, continuing to tailor the offer to match exactly what our loyal catchment wants and needs.”
Mark Whittaker, Executive Director – Peel Retail & Leisure, added: “When Gloucester Quays first launched in 2009, it did so amidst the most difficult economic circumstances, with the impact of the global recession being sharply felt. Fast forward 15 years and it’s clear to us that we have a format that has enduring appeal, taking Gloucester Quays from a designer outlet many commentators thought wasn’t needed, to one of the best performing in the country and a vital part of this historic city. We’re proud of the journey the destination has taken, and this landmark moment, alongside record performance, only gives us more reasons to be excited about the future of Gloucester Quays.”
The enduring strength of Gloucester Quays as an established outlet is exemplified by its sales and footfall growth, but also by its ability to attract best-in-class and exciting brands.
