According to the latest Pan-European footfall report by BNP Paribas Real Estate, London Oxford Street was named Europe’s most-popular shopping street. It beat competition from Milan, Madrid and Paris.
The annual report gives a snapshot of pedestrian traffic on prime retail streets across 34 European cities, including Europe’s top 20 Capitals.
Oxford Street, London, was the top-ranked stop with 72,700 visitors. Madrid’s Gran Via had almost 12,000 more visitors per day, and Milan’s Corso Vitorio Emanuele II received 54,600 visitors. Paris’s Champs-Elysees was fifth with 45,000.
London’s Regent Street was third on the overall list after it attracted 56,900 visitors. It was also named Europe’s most-visited luxury retail destination.
Gavin Redrupp of BNP Paribas Real estate, London retail head, stated in a statement that “London is an extraordinary destination for retail. The city’s reputation as a top shopping destination is strengthened by its wider cultural offerings, which include a world-class theatre district and historical landmarks.
We know that the retail sector was the hardest affected by the pandemic. However, Oxford Street, Regent Street, and Regent Street are still must-see destinations. They continue to attract strong brands and a compelling offer, which in turn draws strong footfall.
Patrick Delcol, BNP Paribas Real estate’s head of pan-European retail, said: “The findings indicate that some level of normality was restored to European prime locations: brick-and mortar premises still have traction; city centres are still proving their appeal, and some new retail formats and models are being successfully introduced into inner cities.”