Oxford Street’s pedestrianisation has delivered an early boost to London retail, with spending and footfall rising in the first week after traffic restrictions were introduced on 26 October, offering retailers a lift ahead of the Christmas trading period.

Barclays debit and credit card transactions across the wider West End increased 13 per cent between 26 and 31 October compared with the same period last year, according to figures shared with the Financial Times. Steve Fergus, head of retail at Barclays, said a more attractive shopping environment gave consumers an additional reason to visit central London.

Separate figures from payments company Adyen showed that the value of transactions across 40 Oxford Street stores increased 28 per cent year on year during the first week of pedestrianisation. The number of purchases rose 19 per cent, significantly exceeding the one per cent transaction growth recorded on neighbouring Regent Street.

Data compiled by the Mayor of London’s office indicated that footfall along the pedestrianised section, between Orchard Street and Great Portland Street, increased 16 per cent compared with the October 2025 half-term. International visitor numbers rose by approximately 42 per cent, while visits after 6pm also increased.

Sir Sadiq Khan, mayor of London, described the initial figures as a “real boost for the nation’s high street”. He said: “These are staggering early results that show the transformational impact that the pedestrianisation of Oxford Street will have.”

The changes form part of Khan’s £150 million regeneration programme, which aims to revitalise the shopping district after years of declining footfall, store closures and rising vacancies. The initial pedestrianisation covers approximately half a mile between Selfridges and Ikea, with cars, buses, taxis and bicycles excluded from the designated section.

Further improvements are planned for 2027, including more than 50 trees, additional seating and new public squares intended to make the area more attractive to visitors and retailers.

However, the scheme has attracted opposition from local residents and transport groups concerned about the impact on surrounding roads and public transport accessibility. The Marylebone Association has cited information suggesting that some bus journeys are taking up to 11 minutes longer following the changes, while concerns have also been raised about access for elderly and disabled shoppers.

The early spending figures come after a difficult period for Oxford Street, where retail vacancies reached 13.7 per cent in 2022. The collapse of department store chains Debenhams and House of Fraser, alongside the disruption caused by the coronavirus pandemic, contributed to pressure on the district.

The Christmas trading period will provide a further test of whether the initial increase in visitor numbers and transactions translates into sustained retail growth.

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