Do we have room for more factory outlets?
Factory outlet centres have been one of the few genuine growth stories in the global shopping centre industry in recent years. Consumers have gravitated strongly to the channel – not as an everyday or every-week shopping trip, but more as an occasional treasure hunt. This is partly due to their out-of-metro area locations.
In Australia, there are still only about 20 outlet centres in operation and from a performance standpoint (with some notable exceptions), they tend to punch above their weight. When viewed from an international perspective, there certainly seems to be an undersupply of outlet space.
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Competition in the Australian luxury market is heating up as new channels and consumers come to the fore. https://t.co/W6O4FqUQGc31 mins ago