FASHION HOUSE Outlet Center Bucharest: Outlet shopping is increasingly attractive for Romanian customers
Romanians are progressively turning to outlets as a manner to shop and save money at the same time, according to the latest sales and consumer data published by FASHION HOUSE Group part of Liebrecht & wood Group, developer of FASHION HOUSE Outlet Centre Bucharest, the first and only professional outlet centre in the country. In the first semester of 2016, the project’s key performance indicators marked double digit increases, consolidating the consistent growth of the previous years.
In the first semester of 2016, retail sales within FASHION HOUSE Outlet Centre Bucharest grew with 10,9%, while the conversion rate (percent of visitors who buy) registered a 16% surge compared to the similar period in 2015. The average transaction value (ATV) also maintained its ascending trend with a 8,3% increase.
Moreover, probably the most significant evolution of H1 2016 was represented by the considerable increase in average spending per head (+25,5% compared to H1 2015), proving that people visiting FASHION HOUSE Bucharest find here more of what they were looking for.
The positive outcome of H1 2016 continues the spectacular growth marked by FASHION HOUSE Bucharest in 2015, when annual retail sales, spending per head and the average transaction value, soared to the highest levels of the previous 5 years.
“As the local retail market is maturing, consumer demand becomes more sophisticated and the outlet model of shopping gains popularity: Romanians are increasingly selective, they now have a wider array of brands to choose from, they know which of these suit their needs best and where they can find their preferred fashion items at the optimum price/quality ratio. The performance of FASHION HOUSE Outlet Centre Bucharest is evidence of this ascending trend – we are seeing more customers returning enthusiastically to the outlet, more eager to buy, as they discover the advantage of getting more value from their spending on branded fashion”- states Brendon O’Reilly, Managing Director of FASHION HOUSE Group.
FASHION HOUSE Bucharest has been significantly improving its retail mix in the past couple of years. This year only, the company leased another 2,000 sq.m., at a signing rate of circa 2 new brands per month. The list of new tenants include top international and national brands such as Desigual, Colin’s, Triumph, Sport Vision, Issimo Home, R&R Boutique, Various Brands, U-Grow, Multibrand Street & Go and Land Mobile.
In addition to good brands offering good value, FASHION HOUSE Outlet Centre is recognized for its unique set of periodical promotions and shopping events: Extra Value Propositions, including Super Outlet Shopping Days, 1+1 Offers and Half-Price Weekends, are implemented every month within the centre, in order to boost footfall and retail KPIs, while Extra Discounts Days have become a valuable tool to attract visitors outside major “high-discount” events. As a consequence, the percentage of customers who visit the outlet centre one or more times a month is now double compared to the first year of operations.
“2016 has been a great year so far for FASHION HOUSE Outlet Centre Bucharest – sales are on a rise and we are close to full occupancy of phase 1, leading the way to the project’s expansion in the near future. We will continue our pursuit to enrich the tenant mix, to offer extra added value and shape up an improved and more exciting customer experience”, concludes Sorin Ioan Blaga, General Manager of Liebrecht & wooD Romania and FASHION HOUSE Outlet Centre Bucharest.
Opened in 2008, FASHION HOUSE Outlet Centre Bucharest is the first professional outlet centre in Romania. With a total area of 16,000 sq.m., FASHION HOUSE Outlet Centre Bucharest is home to an impressive portfolio of national and international brands, including: Puma, Adidas, US Polo, Champion, Stefanel, Collective, Mango, Tom Tailor, Benvenuti, Il Passo, Ecco, Santa Barbara, Camel Active, Reebok, Diesel, Lee Cooper, Guess, Mustang Jeans, Napoleoni, TED’s Coffee, Lacoste & Gant, Desigual, Triumph and many others. With 30% to 70% discounts on branded fashion items FASHION HOUSE Outlet Centre Bucharest completes perfectly the offer of West Park – one of most popular retail parks in Bucharest, known from its broad household goods offer.