V&A Waterfront achieves record retail sales with over 3 million visitors in December

Source: www.engineeringnews.co.za

On New Year’s Eve alone, approximately 200,000 people visited the Waterfront throughout the day to enjoy its amenities as well as its New Year’s Eve celebration, confirming its status as a hub for fun and festive activities and a key contributor to Cape Town’s tourism economy.

“The December period is always special at the V&A Waterfront with locals and tourists making their way to enjoy the best of what we have to offer, and this year was no exception,” said David Green, CEO at the V&A Waterfront.

“With over 3 million visitors for the month and 25 million visitors for the year reflects the incredible appeal of the Waterfront as a destination where people come to connect, celebrate, and create memories.”

A new addition to the Waterfront’s retail offering was the opening of the repurposed Union Castle Building just in time for the festive season, introducing high-profile tenants such as Marble Restaurant, Nike, Thule, and Wedgewood to the Waterfront.

Thule opens new flagship store at V&A Waterfront

2 Dec 2024

These additions and other tenant mix enhancements such as the enlarged and relocated Yuppiechef and Mr Price offerings as well as fresh new brands such as Amiri, North Face, Karl Lagerfeld, Deus ex Machina all contributed to drive close to double digit sales growth with more than R10bn being spent in the precinct during 2024.

Amiri opens its doors at Victoria Wharf Shopping Centre, Cape Town

22 Jan 2025

Sales growth

During the year, the V&A Waterfront saw sales growth across most categories but there were some stand out performers – specifically the enhanced restaurant offering and food markets drove food and beverage revenue.

Increased numbers of international tourism arrivals helped drive strong performances at the revamped Watershed, Curios and jewellery sectors.

Athleisure and outdoor wear continue to experience ever growing demand with Health & Beauty remaining a perennial favourite.

In fashion, there was stronger performance from those more independent and differentiated stores.

Finally, leisure attractions from small harbour tour boats to helicopter trips ensured there was something to suit every pocket

Hotels in the precinct also reported positive revenue rates throughout December, reaffirming the strong demand for high quality accommodation in the area.

Major attractions

Additionally, major attractions such as the Two Oceans Aquarium and the Zeitz Mocaa Museum continued to draw significant footfall. Both attractions enjoyed a 4% increase respectively over last year’s already strong December and for the full 12 months registered double digit growth of 10%.

The Waterfront’s festive period was brought to life with its annual "Joy from Africa To The World" campaign, now in its sixth year, which connects local art, craft and design with visitors to the neighbourhood, presenting colourful large scale hand crafted installations that pay homage to the continent crafters and makers.

Highlights included handcrafted pieces of the city’s most well-known landmarks and flora, kids’ theatre and centre court activations, an iconic festive tree raising awareness of the endangered African penguin, and the popular New Years Eve free music concert.

Joy From Africa’s impact comes to life through a focus on job creation and skills development in working with local communities and makers who demonstrate a strong focus on repurposing, upcycling and conscious sourcing of materials used in all the festive decorations.

“Looking ahead, our ongoing investment plans will ensure that the V&A Waterfront continues to innovate and evolve, keeping South Africa’s tourism offering at the forefront of global travel trends for both local and international to enjoy,” added Green.