Two year after Covid, what are the trends for European High Streets ?
Mytraffic, the European leader in traffic analysis, and Cushman & Wakefield, one of the world leaders in commercial real estate, publish the second edition of the European High Streets ranking. At the beginning of March 2020, the streets of Europe suddenly emptied.
While 2021 was a difficult year for European high streets, 2022 was a boom year in terms of growth. Prime European high streets are witnessing a triple phenomenon. A strong demand from luxury brands, which are reconfiguring and extending their locations, driving the market upwards; the arrival of new sports brands, whose popularity continues to grow; and a restructuring of the fashion sector, which is shifting along the evolution of brand’s retail strategies.
Since January 2020, Mytraffic has been measuring monthly traffic along seven of the most emblematic streets in European capitals: London, Berlin, Madrid, Rome, Brussels, Amsterdam, Paris. The match between European arteries compares those that have rebounded the best since the crisis, taking as a criterion the increase in pedestrian footfall over the past 12 months.
To establish this ranking, Mytraffic measured the monthly traffic on 10 spots of each street, evenly distributed on both sides of it. The average monthly footfall in front of an address corresponds to the number of pedestrian passages in front of a shop. A person is counted as many times as he or she passes during the day. The pre Covid baseline is the average footfall registered in January and February 2020. The rent data and its evolution are provided by Cushman & Wakefield services, based on transactions in the street, or estimates from similar transactions.