Retailers on London’s Oxford Street have seen their sales jump by nearly a fifth since the iconic shopping street was pedestrianised last month. 

The number of transactions at 40 Oxford Street stores jumped by 19 per cent in the first week of the scheme, compared both to the prior week and the same time last year, according to payments firm Adyen. 

London Mayor Sadiq Khan described the street’s pedestrianisation as a “momentous day” for the capital but the initiative has been mocked by some, who said the shopping strip is little changed and is still being overrun by cyclists.

But it appears that retailers in Europe’s busiest shopping destination are getting a major boost following the first stage of its pedestrianisation. 

The 19 per cent uplift in sales on Oxford Street compares to just one per cent growth at neighbouring Regent Street during the same period. 

The total value of sales on Oxford Street has improved too, growing 28 per cent year-on-year and 12 per cent week-on-week. The average transaction value is seven per cent higher than the same time last year.

The initiative has been welcomed by John Lewis, one of the street’s most high-profile tenants. The department store chain was founded on Oxford Street as a small drapery shop in 1864. 

Naomi Simcock, the retailer’s chief operations officer, told : “Our flagship store enjoyed a strong trade week last week, with a fantastic atmosphere, energy, and bustle throughout the shop.  Our new 300-seat Platter restaurant was constantly busy too as customers took time out from their shopping.”

Marks & Spencer completed the £30m refurbishment of its flagship Pantheon store on Oxford Street this summer. The retailer said the site was its best-performing store in the country last week, trading 30 per cent ahead of this time two years ago. 

John Lewis sees ‘strong’ trading

The initial stage of Oxford Street’s pedestrianisation saw a 1km stretch of road pedestrianised using temporary bollards and furniture, which are set to be joined by more than 50 new trees, hundreds of seats and two new public squares early next year.

A spokesperson for the Mayor of London, said: “Following strong support from Londoners and businesses, the Mayor is excited to see his bold plans for Oxford Street’s transformation becoming a reality. 

“Revitalising Oxford Street will help to super-charge regeneration and unlock the potential of this iconic area, helping to boost and support vital economic growth not just in London but across the country.”

Khan is determined to return the high street “to its former glory,” the spokesperson added. Speaking ahead of the pedestrianisation, the mayor said the project would rid Oxford Street of “dross” American candy shops.