The Future of Istanbul Shopping Streets

 

Cushman & Wakefield Turkey carried out a new investigation. A new report on this research was published. The name of this report is ‘’Istanbul Shopping Streets’’. According to the report, the main shopping streets in Istanbul are visited by fewer visitors due to various reasons. For these reasons, some of them were reported as exchange fluctuations, economic pressures, and urban renewal studies.

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How Was This Research Performed?

The Istanbul Shopping Streets report was compared with 2016. Some work was done to get an idea about the retail market in Istanbul shopping malls. Indicators and parameters for the three selected regions were collected annually by these studies. With the addition of relevant data to these streets, retail stowage, annual rental volume, new retailer arrivals in the last twelve months and street pedestrian traffic counts have been collected. All results were compared with the same period of the previous year.

Conclusions What way?

A comparison of the year 2016 is made. In 2017 pedestrian traffic decreased by 11% on weekdays, 27% on Bağdat Street and 19% on Nişantaşı District. Decreased pedestrian traffic has also normally affected the shopping rates there. On the other hand, the number of visitors decreased in the same ratios at the same rates of the Istiklal and Bağdat Streets. Nisantası Region has achieved a 12% increase in pedestrian traffic with the increase of new generation cafes and restaurants in secondary streets. Nişantaşı is different from other regions in this direction.

What will happen in the future?

This situation is expected to continue for a while. It is foreseen that this situation will improve in the following days. It is stated that the decline in these moving streets will decrease and moving will increase again over time.

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