BNP Paribas Real Estate’s has released its latest Pan-European footfall report, analysing the pedestrian traffic of prime retail streets in 34 European key cities, including Europe’s top 20 Capital cities, providing a snapshot of pedestrian traffic – a prime indicators to assess the strength of physical retail.
Footfall measured on a sample day across all 34 locations reveal Oxford Street attracted 72,700 visitors – almost four times the capacity of London’s O2 arena.
Oxford Street beat Madrid’s Gran Vía with a daily footfall of 60,800 . London’s Regent Street took third place with 56,900 daily visitors, followed by Milan’s Corso Vittorio Emanuele II in fourth with 54,600. Paris’s Champs-Elysées rounded out the top five with 45,500 visitors.
Gavin Redrupp, head of London retail at BNP Paribas Real Estate, commented: “London is an exceptional destination for retail. Its long standing reputation as a leading centre for shopping is reinforced by the city’s wider cultural offer which includes a world class theatre district, historical landmarks, and some of the most magnificent parks in Europe.
“We know the retail sector was hardest hit during the worst of the pandemic, but despite these challenges, Oxford Street and Regent Street remain must-visit destinations. As such, they both continue to attract strong brands with a compelling offer which in turn attracts strong footfall.”
Patrick Delcol, head of pan European retail at BNP Paribas Real Estate added: “The findings suggest that some level of normality has been restored to European prime destinations: brick-and-mortar premises still have traction, city centres are proving their appeal, along with some new retail models and formats that are being successfully introduced to inner cities.”