2023-07-12 07:00:00
A shop on the famous avenue sees more than a million people pass by its door every month.
In the European thoroughfare match, Paris ranks third behind Amsterdam’s Kalverstraat and Madrid’s Gran Via. But this barometer only measures the increase in attendance. That of the most famous Dutch avenue increased by 30% from June 2022 to May 2023, to 726,000 passers-by, where the Champs-Élysées saw an increase of 15%, to 1 million. This study conducted by Mytraffic, a leader in traffic analysis, and Cushman & Wakefield, a leader in the retail property sector, takes as a criterion the increase in foot traffic over the last 12 months among European capitals. the most emblematic.
In terms of rents, the famous avenue which connects the Place de la Concorde to the Arc de Triomphe, is number one: you have to pay 16,350 euros per square meter to open a shop there, against 7,000 pounds per square meter on Oxford Street in London , 2500 euros per square meter on the Kalverstraat in Amsterdam and 2830 euros on the Gran Via in Madrid.
On the Champs-Élysées, the traditional duality between odd pavements, housing luxury boutiques, and even pavements, with less chic shops, has been replaced. The opposition is now between the top and the bottom of the avenue. Thus, luxury houses such as Kering, Richemont and LVMH are strengthening their presence in the upper part of the avenue, while the lower part takes on a sporting air, one year from the Paris Olympic Games. Sports brands such as Lululemon or Foot Locker have taken up residence there. Adidas opens its new flagship (flagship) in the Galerie des Champs. Nike is a little higher.
Traditional stores not fully replaced by e-commerce
Luxury, sports and ready-to-wear brands alike are willing to pay top dollar for an ideal location. “There is an exceptional dynamic on the Champs-Élysées», reacts Christian Dubois, international partner at Cushman & Wakefield and co-author of the study. Today, a pop-up store costs even more than long-term commercial rent. This influence is the result of an investment: the City of Paris is investing 30 million euros in works for the Games. The approach of the 2024 Olympics has an accelerating effect on the attractiveness of the Champs-Élysées, which is now leading to a battle to obtain a flagship on the most beautiful avenue in the world.
Since the advent of e-commerce, “those who announced the death of physical commerce were wrong”, underlines Robert Traver, global director of EMEA retail at Cushman & Wakefield. The attractiveness of major thoroughfares is on the rise. Being present on the latter is at the heart of the omnichannel strategies of the different brands. The choice of locations is highly selective. It must meet demanding expectations and guarantee financial and marketing contributions. Today, no more simple window displays, it is an experience that is sought after by local customers and tourists. Flagships embody the image of the brand and the quality of service must be at its peak.
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