Spending at stores on Oxford Street has risen significantly since the street became car-free. Elsewhere in London’s West End, the number of transactions is also on the rise as shoppers are drawn to the new pedestrian zone.
A boost
In the first week following the redesign of London’s famous Oxford Street—which now features a 1-kilometer car-free stretch—many shoppers found their way to the new pedestrian zone. According to the Financial Times, transactions made with Barclays debit and credit cards across the West End rose by 13% between October 26 and 31 compared to the same period last year.
According to data from payment company Adyen, the value of transactions at 40 stores on Oxford Street rose by 28% compared to last year during the first week after the pedestrian zone was implemented, while the number of purchases increased by 19%. On neighboring Regent Street, the number of transactions rose by just one percent during the same period. Both John Lewis and Marks & Spencer reported very strong sales at their Oxford Street stores.
The figures are a boost for the retailers involved in the run-up to the crucial Christmas sales. London Mayor Sadiq Khan’s redevelopment plans—which include planting trees and redesigning plazas next year—have met with resistance from residents and transportation companies concerned about accessibility and the impact on surrounding streets.
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