Retail spending on Oxford Street has jumped following its pedestrianisation, with transactions across London’s West End also rising as shoppers flock to the newly traffic-free destination.
Barclays debit and credit card transactions across the West End increased 13 per cent between 26 and 31 October compared with the same period last year, according to the Financial Times.
Meanwhile, data from payments firm Adyen showed the value of transactions at 40 Oxford Street stores surged 28 per cent year on year during the first week of pedestrianisation, with the number of purchases rising 19 per cent.
The uplift significantly outpaced neighbouring Regent Street, where transactions increased just one per cent over the same period.
The figures offer an early boost to retailers ahead of the crucial Christmas trading period, following the introduction of London’s long-awaited Oxford Street pedestrianisation scheme on 26 October.
Almost a kilometre of the shopping destination, stretching between Orchard Street and Great Portland Street, has been closed to cars, buses, taxis and bicycles as part of London Mayor Sadiq Khan’s £150m regeneration plans.
The changes are designed to revitalise one of Britain’s most important shopping destinations, which has struggled with declining footfall, vacant retail units and the rise of online shopping in recent years.
Early figures suggest the initiative is already encouraging more shoppers to visit the area, with footfall along the newly pedestrianised section increasing 16 per cent and international visitor numbers climbing 42 per cent year on year.
John Lewis, which operates its flagship department store on Oxford Street, welcomed the early trading uplift, reporting strong sales and increased activity across its shop and hospitality offering.
Marks & Spencer also reported a strong trading performance at its refurbished Pantheon flagship, which was its best-performing UK store during the first week of the changes.
The pedestrianisation forms part of a wider transformation of Oxford Street, with plans to introduce more than 50 trees, new public squares, additional seating and improved public spaces during 2027.
However, the project has faced opposition from residents and transport groups concerned about traffic being diverted onto neighbouring roads and reduced accessibility for bus passengers and disabled shoppers.
Despite the positive early figures, the longer-term impact on retail sales remains to be seen, with the upcoming Christmas trading period set to provide a more substantial test of whether the changes can deliver sustained growth for the West End.
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