Nicknamed “the most beautiful avenue in the world”, the avenue des Champs-Elysées is not the busiest. This Wednesday, the companies Mytraffic and Cushman Wakefield unveil to 20 minutes the results of their study on the attractiveness of the Champs-Élysées. The latter measured 15% higher attendance between May 2022 and June 2023 than over the previous period (between May 2021 and June 2022). It is even 80% higher than the average pre-covid attendance, already impacted by the Yellow Vests movement.
Results that do not, however, equal those of the Gran Via avenue in Madrid, whose attendance has increased by 26%. Nor those of the Kalverstraat, in Amsterdam, whose increase is established at 30%.
Same dynamic as elsewhere in Europe
“The performance of the Champs-Élysées follows the same dynamic as its European counterparts, with the exception of Oxford Street, whose attendance continues to decline,” say the study managers, in a press release. In France, it is still the one that sees the most visitors pass, ahead of boulevard Haussmann, rue de Rivoli, rue de la République in Lyon and then rue Masséna in Nice.
These results were obtained by establishing “an average, calculated from 10 points on each street distributed evenly on both sides of the street. […] The total number of pedestrians passing along the entire avenue is far greater than the number of pedestrians passing in front of a single store”, detail Mytraffic and Cushman Wakefield.
Attractiveness boosted by the Paris 2024 Olympics
Every year, tourists flock to Paris to walk along the Parisian avenue, which is home to some of the biggest luxury brands. One year before the Paris 2024 Olympics, the popularity of the Champs-Elysées is growing strongly. And rightly so. According to the study, a shop on the street would see 1,009,000 people pass in front of its door each month. A figure that should increase over the next summer, with the consequent influx of tourists.
A boon for brands, which are fighting for available locations. Usually, the principle of the temporary store is to sign a precarious lease, the rent of which is lower than a traditional lease. The rents for pop-up shops, which are in principle lower than a traditional lease, now exceed the amounts of traditional leases for the year 2024. With the arrival of many sports brands in recent months, the avenue is posting a rate vacancy less than 7%: for example, the 800m2 premises occupied since 1993 and abandoned at the beginning of June by Disney can already count on two takeover offers.