The mall is a 50:50 joint venture between Unibail-Rodamco-Westfield and German Commerz Real, a subsidiary of Commerzbank AG. Image: URW
Development

Westfield London Also Turns 10

Almost simultaneously with ACROSS, Europe's largest shopping center celebrates a decade of operation. Westfield London reveals how shopping habits have transformed in the British capital over the last 10 years.

This October marks 10 years since Westfield London first opened its doors in the capital, pioneering and transforming the shopping, dining, and leisure landscape of the retail industry in the UK.

The mall is a 50:50 joint venture between Unibail-Rodamco-Westfield and German Commerz Real, a subsidiary of Commerzbank AG. Over the last decade, Westfield London has become one of the most popular shopping destinations in Europe, welcoming more than 260 million visitors and generating over £9.2 billion in sales. Demonstrating success over the past 10 years: Sales have grown by 52% and footfall has grown by 25%.

To mark this milestone, Westfield London reveals how shopping habits and trends have changed since 2008. Statistics show that shoppers are spending more time at Westfield centers than ever before, with the average trip now lasting 98 minutes. While 25-34 year olds remain the largest shopping group by age, second place has shifted from 18-24 year olds to 35-44 year olds over the past decade.

Westfield London has established itself as a global tourist destination: Of its 260 million visitors, close to 20% are tourist shoppers. Sales from the number one tourist country, China, have risen 165% since its opening. The average spend for Chinese tourists in 2017 was £442 at Westfield London; however, for the luxury Chinese shopper in The Village, the amount jumped to £979. The number of visitors from the Middle East and North Africa is also continuing to rise. The UAE, Saudi Arabia, and Kuwait are the top three spending Middle Eastern countries at Westfield London.

 

Increase in Spend on Health and Beauty Items

The beauty category is one of the stand-out spending success stories in the capital, with the rise in social media and, more recently, well-being trends playing a role in the staggering 62% increase in spend on health and beauty items. Westfield London saw an impressive £70m spent on beauty in 2017, and the center has grown its health and beauty outlets by 50% since 2008 to keep pace with the ever-growing demands of shoppers.

And, as consumers increasingly swap their shopping trips for day trips, visitors are spending 90% more on dining now than they did in 2008. Westfield London has increased the number of food and beverage outlets by 39% over the last 10 years, with a total of 80 dining outlets at the center.

 

Lady Gaga and Westfield London surprised fans on December 1, 2016 in London, England. Image: URW | Dave Benett

 


Westfield London’s “firsts” over the past decade:

  • Open the first dedicated luxury precinct at a UK shopping center – The Village – featuring more than 40 high-end stores, including Louis Vuitton, Burberry, Gucci, and Prada

  • Have its Christmas lights switched on by A-listers Mariah Carey, Justin Bieber, Rita Ora, Rihanna, and Gwen Stefani …

  • … And, have Lady Gaga give a music performance in a snow globe atop Westfield’s famous roof

  • Launch a hotel-style concierge service never seen before at a UK shopping center, with services from valet to hands-free shopping as well as home and hotel deliveries

  • Host world film premieres, including The Avengers, Captain America, Twilight, and, most recently, The House with a Clock in its Walls

  • Create the first ever physical store stocking fashion’s most coveted garments and accessories for hire, Style Trial

  • Play home to Charlotte Tilbury’s Beauty “Gifting Wonderland” – complete with a high-tech Magic Mirror and product personalization

  • Over 40 UK first stores, including – Ichiba – the largest Japanese food hall in Europe, Aspinal of London, Coach, Tesla, Skagen, and UGG Australia, to name a few

  • Open a stadium concept store by Adidas, featuring Test & Create spaces for shoppers to put products through their paces


 

10 YEARS ACROSS – OVERVIEW

FREE PDF DOWNLOAD

 

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Development MORE

VIA Outlets aiming to double its F&B offering

Otto Ambagtsheer, the COO of VIA Outlets, also joined the ICSC European Conference & Exhibition in the Catalan capital. In his interview with ACROSS, he talks – among other things – about the company’s current remodeling projects.

Getting closer to the customers

The paradigm shift in the retail and retail real estate industry were the key issues at this year’s ICSC European Conference in Barcelona. The industry’s big players adapt their business models to bind current and future customers even closer to stationary retail. Ingka Centres, formerly IKEA Centres, emphasizes new “meeting place” concepts in the hearts of cities as well as increased manpower.

And the 2019 European Shopping Centre Awards go to…

In Barcelona, the ICSC once again selected the most outstanding new refurbished and established shopping centers in Europe.

SUPERNOVA announces extensions and refurbishments in Croatia and Slovenia

Supernova Invest GmbH, a leading private real estate company with a buy-and-hold investment strategy focused on high quality retail properties in Central and Eastern European countries, has announced the opening of the extended and refurbished Supernova Koprivnica shopping park in Croatia in mid-April 2019. Further refurbishments are planned for other Supernova retail assets in Croatia and Slovenia.

“We do not want to focus on a niche spectrum of the retail market”

Towarowa 22 is a plot of about 6.5 hectares located in the Wola district in Warsaw (Poland). The owners are EPP and Echo Investment. Hadley Dean, CEO of EPP, explains the project’s retail component.

Densification, please!

Residential buildings and hotels emerge on shopping centers. Areas of supermarkets are being used for this as well, as the retail real estate industry discovers the benefits of urban densification.