Announcement, October 2020
Announcement, October 2020
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Whilst we are seeing weekly and regional fluctuations, the broader trend in the retail space is still very much ‘business as usual’ and footfalls are up around 80% on average and still increasing.
With curfews and time-restricted trading not changing the operating of shopping centres, there are no specific limitations that affect the environment for audiences and the space remains a key destination for those seeking leisure experiences. For example, Westfield London have just had their biggest Saturday since re-opening last weekend. Average drivetimes are around an hour which helps indicate the sheer size of catchment areas with audiences being attracted from a number of regions which may be both within and outside of local restrictions.
But nothing beats seeing this with your own eyes, right? We have all been out taking video footage of packed centres to help provide a realistic and ‘on-the-ground’ look inside what is happening in our locations and show just how resilient the space is.
We believe this trend is only likely to increase (usually an average increase of +20% in Q4) as we head into our key retail period, and people are looking for safe and well-managed retail and leisure environments where they can socialise and behave more ‘normally’.
With big retail events such as Amazon Prime Day, Black Friday and Cyber Monday leading up to Christmas, Q4 is a crucial time for brands, businesses and consumers. Of course, the way we celebrate this year might be a bit different; but the festive season very much remains a ’touchy-feely’ time of year – an experience you can’t access from home or behind a computer. Retail destinations specialise in making these events a key part of a consumers calendar, with this year perhaps being even more vital in raising people’s spirits for the holidays.
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