Hammerson bucks footfall trend

Hammerson footfall outperforms in 2017

Hammerson’s annual footfall across its UK shopping centres rose +0.4 per cent during 2017, outperforming the industry benchmark which was down -2.8 per cent. During 2017, Hammerson welcomed over 300 million visitors to its European shopping centres, with footfall at UK shopping centres outperforming the market benchmark every month in 2017.

Hammerson credited the increase to its expertise in creating highly desirable retail, dining and leisure destinations, as well as a seasonal calendar of interactive events, innovative pop-ups and targeted activities. At the Christmas light switch on, footfall at Cabot Circus increased +4 per cent year on year and the centre welcomed over 22,000 shoppers between 5-8pm, boosting sales by +11 per cent. The “Skate” ice rink at Westquay welcomed over 46,000 skaters and upon opening footfall at the centre was up +9 per cent week on week. The Oracle saw footfall up +6 per cent year on year during The Riverside relaunch in September featuring a Las Vegas style light & fountain show. As retailers continue to prioritise physical space in specific high-footfall destinations, Hammerson’s portfolio is ideally placed to benefit.

Over the Christmas period, Hammerson’s retail sales across its UK and French shopping centres outperformed the market. December store sales fell -1.3 per cent in the UK portfolio versus the market which was down -2.7 per cent and grew +0.5 per cent in France against a market fall of -1.0 per cent.

CEO David Atkins said: “Our shopping centres performed well at the end of 2017 with strong footfall and leasing. Consumers are spending more discerningly; exciting brands are winning market share; and footfall is drawn to centres which offer the full line-up of retail brands alongside entertainment. It is no coincidence that we have purposely positioned our shopping centres to respond to these trends, dedicating our time to carefully curating the right brands, adding more leisure space and creating an engaging environment for consumers. Our strategy is aligned with that of retailers and we have continued to see strong momentum in leasing in Q4.”

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