Massive boost to Oxford Street shops after pedestrianisation
London’s Oxford Street has officially been car-free for a week, and the effect on business has been staggeringly positive.
On 26 October, a stretch of the world-famous shopping street between Orchard Street and Great Portland Street was closed to motor vehicle and bus traffic, as well as bicycles and scooters, making more space for pedestrians.
City Hall has published figures that show footfall in the newly pedestrianised stretch of the street rose by 16% compared to the same period last year, with the number of international visitors up 42%.
Visits to the wider Oxford Street area after 6pm reportedly rose by 19%, and spending also increased significantly, providing a welcome boost to stores in the area.
Spending at Oxford Street stores rose by 28% compared to the same period last year, increasing to £3.7 million, with the number of in-store transactions increasing by 19%.
More people took the tube to stations around Oxford Street, with TfL recording a 46% increase in footfall outside Bond Street Station.
City Hall said that buses continued to run well with minimal disruption and added that there was no significant change to traffic speeds on surrounding roads.
Mayor of London Sadiq Khan said the positive effect of the pedestrianisation exceeded his most optimistic expectations.
“These are staggering early results that show the transformational impact that the pedestrianisation of Oxford Street will have,” Khan said. Our early work has been very warmly received by Londoners and visitors, with a surge in footfall and spend.”
“More people are coming to Oxford Street, more are visiting in the evening and shops are seeing more sales.”
“These initial results are better than we had anticipated and a real boost for the nation’s high street and the businesses that make it such a special place to visit,” Khan said.
