The leading outlet operator in Spain and Poland and the second-largest operator in Europe, NEINVER, has announced growth in its outlet business during the first ten months of 2022.
Brand sales across its outlet portfolio increased steadily throughout the year, starting to accelerate in Q2 and continuing to climb in Q3, experiencing double-digit growth (+11.5 per cent) since last April compared to 2019. Q4 has got off to an excellent start, with sales up by 16 per cent versus 2019 levels, and with the festive season ahead, the scene looks set for a record-breaking year.
Fifty per cent of retailers have also registered double-digit sales growth compared to 2019, with sports, mixed fashion, footwear, and denim standing out as the best-performing categories in the first 10 months 2022.
Between January and October, visits to the outlet centres saw steady month-on-month growth, surpassing 2019 levels in October. Sales continue to outperform footfall, demonstrating higher conversion rates and an increased average basket – the latter up 16 per cent compared to 2019 levels.
According to Daniel Losantos, NEINVER CEO: “Brand sales, which already reached 2019 levels in the second half of 2021, have continued their upward trend, steadily outperforming 2019 levels throughout 2022, with all signs indicating that they will reach record levels by the end of the year. Despite the challenging macroeconomic environment, the positive results pay testament to the strength of our business and the fact that our value proposition – based on collaboration with retailers as long-term partners and working around common interests – continues to be the winning retail formula. It also shows just how relevant the outlet concept is for consumers, especially as shoppers have become more discerning about their average spend and are also now looking for a more complete experience.”
