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Oxford Street remains leading shopping capital in Europe

By Danielle Wightman-Stone

10 Jan 2022

Retail

Image: FashionUnited

London’s Oxford Street has been named the most popular shopping street in Europe, beating off competition from Madrid, Milan and Paris, according to BNP Paribas Real Estate’s latest Pan-European footfall report.

The annual report provides a “snapshot” of pedestrian traffic on prime retail streets in 34 European key cities, including Europe’s top 20 Capital cities.

Oxford Street in London took top stop with 72,700 visitors, beating Madrid’s Gran Via by almost 12,000 visitors a day with a daily footfall of 60,800, while Milan’s Corso Vittorio Emanuele II recorded 54,600 visitors and the Champs-Elysées in Paris ranked fifth with 45,500 visitors.

London’s Regent Street also made the overall list, taking the third spot after attracting 56,900 people, and was also named the most-visited luxury retail destination in Europe.

Gavin Redrupp, head of London retail at BNP Paribas Real Estate, said in a statement: “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.”