Pan-European footfall: which streets attract the highest pedestrian traffic? BNP Paribas Real Estate unveils its Pan-European footfall analysis, the first-ever study of the pedestrian traffic of the prime streets in 23 key cities.
A correlation links the footfall to the spatial structure of city core areas. Where cities present a single retail core, focused on 2 to 3 prime streets, highest numbers are achieved on these streets (Munich, Dublin, the Scandinavian cities, Prague and Zurich for example). Inversely, due to their large catchment areas, London, Berlin and Paris do not have a single core but rather have multiple clusters; hence they achieve a record footfall on their two iconic and most visible streets while more “modest” traffic – nonetheless good performances for retailers – is achieved for the remaining clusters.
Transport hubs and urban regeneration play a key role in heavy generation of footfall figures. Prime streets located near transport hubs -like Oslo and Helsinki- take advantage of the flows from these hubs. Urban regeneration creates not only an improved shopping environment, but also rejuvenates the market supply by attracting new retailers and investors. Warsaw, Vienna and Lisbon have recently experienced such outcomes. New retail schemes develop flows as well, they can even shift the retail focal point as seen in Amsterdam.
In the luxury high street sector, the Top 5 figures are recorded by France, Spain, UK and, a step behind, Denmark. The top five streets are “iconic” walkway precincts which enjoy a high degree of tourist activity.
In addition, they are not “pure” luxury as their offers cover the entire range from mass-market to luxury; hence the heavy footfall is made up of a full extent of customer profiles both local and visitors. Genuine luxury prime streets are dominated by Italy: Rome’s Via Condotti which leads to Piazza di Spagna is the top luxury spot in terms of footfall.
This first-ever study has been co-ordinated by the Research and Leasing teams of BNP Paribas Real Estate across 23 cities throughout Europe. It was activated on Saturday the 10th of June 2017 between the hours of 14:00 and 16:00 or peak hours, taking into account the cultural trading differences of cities. Each city was divided into “Mass-Market to Upmarket” and “Luxury” categories and between 3 and 10 streets were selected, depending on scale and population of the city.