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New study puts London at top of European retail rankings

by Andrea Waitrovich

Oxford Street in London has emerged as Europe’s busiest shopping street in new footfall analysis of the most famous high streets in 23 European cities, according to BNP Paribas Real Estate’s pan-European footfall analysis.

The constant allure of its major world-leading department stores such as Selfridges and John Lewis has attracted footfall from both tourists and domestic shoppers alike. As a result of this, the street continues to attract global retailers such as Reserved, Simit Sarayi and Jurlique over the course of the past year. While the Eastern end continues to improve with the impending opening of Crossrail in May next year, the traditional retailing area around Bond Street station has seen rents grow to £1,000 per square foot ($1,311 per square foot) over recent years. As of third quarter 2017, Oxford Street’s vacancy rate fell to 4.8 percent, perhaps allaying any fears of a post Brexit retail wasteland.

With footfall of 13,560 people an hour, Oxford Street topped the overall ranking with Regent Street (9,252) in 9th place. Munich, Madrid, Frankfurt and Paris completed the top five.

In analysis of Europe’s top 20 luxury high streets, London had four entries — Regent Street (9,252) in 3rd, Old Bond Street (5,564) in 7th, South Molton Street (3,298) in 13th and New Bond Street (2,746) in 16th.

 

Europe top 30

Footfall, mass-market prime streets (pedestrians/hour)

Ranking City Location Class Footfall counting
1 London Oxford Street  Mass to up Market* 13,560
2 Munich Kaufingerstraße  Mass to up Market* 12,832
3 Madrid Calle de Preciados  Mass to up Market* 10,292
4 Frankfurt Zell  Mass to up Market* 10,280
5 Paris Avenue des Champs-Élysées  Mixed* 10,277
6 Barcelona Avenue del Portal de Angel  Mass to up Market* 10,216
7 Barcelona Passeig de Gracia  Mixed* 10,132
8 Madrid Gran Via  Mass to up Market* 9,956
9 Dublin Regent Street  Mixed* 9,252
10 Madrid Calle Fuencarral  Mass to up Market* 9,196
11 Dublin Grafton Street  Mass to up Market* 8,802
12 Vienna Mariahilfer Straße  Mass to up Market* 8,796
13 Milan Corso Vittorio Emanele II  Mass to up Market* 8,598
14 Zurich Bahnhofstrasse  Mass to up Market* 8,586
15 Dublin Henry Street/Mary Street  Mass to up Market* 8,505
16 Stockholm Drottninggatan  Mass to up Market* 8,430
17 Stockholm Hamngatan  Mass to up Market* 8,342
18 Rome Via del Corso  Mass to up Market* 8,152
19 Paris Boulevard Haussmann  Mass to up Market* 8,143
20 Vienna Kärntner Straße  Mass to up Market* 8,114
21 Copenhagen Amagertorv  Mixed* 8,094
22 Prague Na příkopě Street  Mass to up Market* 8,008
23 Prague Václavské Náměstí  Mass to up Market* 7,932
24 Amsterdam Kalverstraat  Mass to up Market* 7,888
25 Munich Theatinerstraße  Mass to up Market* 7,604
26 Copenhagen Østergade  Mixed* 7,494
27 Berlin Tauentzienstraße  Mass to up Market* 7,095
28 Copenhagen Kobmagergade  Mass to up Market* 6,964
29 Brussels Rue Neuve  Mass to up Market* 6,772
30 Berlin Kurfurstendamm (East)  Mass to up Market* 6,609

 

*The top 30 includes the following categories: 1. Mass to up market prime streets 2. Mixed prime streets (offer stretching from mass market to luxury)

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