Many retail businesses think that they need parking and cars to bring them customers. While it may seem logical, study after study has shown that removing cars and parking increases retail business revenue. A study by yelp published in bloomberg shows that businesses see a boost when parking is removed and traffic is blocked or limited.
As the world becomes increasingly digitized, the role of the brick-and-mortar retail store has come into question. Many experts have proclaimed the death of retail, but this couldn’t be further from the truth – retail is very much alive, but the playing field has changed. In order to stay relevant and continue to draw consumers in, retail businesses need to adapt to the new landscape. One way they can do this is by setting up shop on car-free streets.
There are a number of reasons why retail businesses do better when they’re on car-free streets. For one, it creates a more pedestrian-friendly environment that is more inviting for shoppers. It’s been shown that people are more likely to window shop and make impulse purchases when they’re not surrounded by cars.
Another reason car-free streets are good for retail businesses is that they can help to create a sense of community. When people are out walking around, they’re more likely to stop and talk to each other, and this can lead to word-of-mouth marketing for your business.
Finally, car-free streets are simply more efficient for retail businesses. When customers have to fight for parking or deal with traffic, they’re less likely to stick around and browse. But when they can easily walk to your store, they’re more likely to spend time – and money – inside.
In a world that’s becoming increasingly digital, the key for retail businesses is to adapt and create an inviting, efficient, and community-oriented shopping experience. Car-free streets can help them do just that.