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Bird's eyeview of European streets Bird's eyeview of European streets


European High Streets Traffic in 2023

Cushman & Wakefield and Mytraffic, the European leader in location analysis, released their 3rd edition of the report about the European High Streets Ranking. It analyzes the traffic of the main commercial streets in Europe between May 2022 and June 2023.

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Cushman & Wakefield, the world leader in commercial real estate, and Mytraffic, the European leader in flow analysis, publish the 3rd edition of their study "Le Match des artères européennes", unveiling groundbreaking figures on footfall and the attractiveness of the Champs-Élysées and other major European thoroughfares.

The evolution of the streets that attract the most visitors and the highest rents is particularly closely scrutinized by the market, as it reveals the transformations to come.

The European arteries match compares the dynamics of prime streets in 7 European capitals (London, Berlin, Madrid, Rome, Brussels, Amsterdam, Paris), based on a single criterion: the increase in pedestrian traffic over the last 12 months. Cushman & Wakefield's experts in each country decipher the reaction of commercial property market players: price trends, retailer and landlord behavior.


Among the key findings of the report:


1. Pedestrian traffic is at an all-time high, well beyond the pre-COVID period

Footfall is 80% higher than the pre-Covid average (impacted by the Yellow Vest movement).

A store on the street sees more than a million people pass by its door every month (1,009,000).

This is an average, calculated from 10 points on each street, evenly distributed on both sides of the street. This means that stores on the avenue may have higher or lower footfall. The total number of pedestrians passing along the whole avenue is far greater than the number of pedestrians passing in front of a single store.

Footfall over the last 12 months (May 2022 - June 2023) has increased by +15% compared with the previous period (May 2021 - June 2022).

This also represents a +131% improvement on the post-containment period (May 2020 - June 2021).

2. In the run-up to the Olympic Games, big-name retailers battle for available sites

Commercial vacancy is low, and a large number of transactions are taking place.

Adidas, for example, has just announced that it has signed a lease to move into the Galerie des Champs-Élysées;

According to Christian Dubois, International Partner Head of Retail Services at Cushman & Wakefield France: "10 days after the Disney Store closed, two companies had already made an offer to take over the lease".

Footfall over the last 12 months (May 2022 - June 2023) has increased by +15% compared to the previous period (May 2021 - June 2022).

This also represents a good +131% on the post-confinement period (May 2020 - May 2021).

As the Olympics approach, rents for temporary stores are soaring. Normally, the principle of a temporary store is to sign a precarious lease, with a lower rent than a traditional lease. Now, for 2024, rents for temporary stores exceed those for traditional leases.

3. The market is driven by luxury and sportswear, as elsewhere in Europe

Luxury brands such as Panerai and Messika are preparing to open new stores on the Champs-Élysées.

Sportswear is also doing very well. In addition to Adidas, we note the arrival of a Lululemon flagship, and the relocation of Footlocker.

The performance of the Champs-Élysées is in line with that of its European counterparts, with the exception of Oxford Street, where footfall continues to decline.




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