I remember walking down Oxford Street as a kid and the pollution from all the vehicles stuck in traffic there was choking. I know they've worked on pollution measures since but I'm sure people still avoid it because of that.
They'll never compete against online shopping prices or convenience. Making it harder to traverse isn't going to fix that. But it will make it a nicer day out for tourists.
I’ll actively avoid it and take other routes. When I did removals in London, we’d go out of our way to avoid similar roads, they’re always extra hassle. It makes loads of sense to prioritise pedestrians
Have you ever actually walked down oxford street?
The pavements are normally crammed, and there are 3 million cars a minute fighting for the road space.
Adding 5x as much space for pedestrians is a fantastic idea.
It'll be a tiny, tiny minority of people not visiting OS because they can't park/taxi/bus to the shop front, and a huge number of people going there because it's a nice experience with no traffic.
Except most studies say that when you limit car traffic and have the streets be walkable more people walk through that street and the business of most shop increases?
You are right that they can't compete directly with online shopping, but that's not why people go there. Studies have consistently shown that closing shopping areas to through-traffic is good for businesses, precisely because it makes them easier, not harder, to access. Shops don't benefit in any way from hundreds of cars (or, in this case, buses and taxis) driving past them!
EDIT: Thought I should link to a specific study rather than just vaguely waving at them. There are many to choose from but this one is particularly interesting because it's from the US, where they generally don't have good cycling and public transport infrastructure, but it still shows benefits for businesses:
While we observed some mixed results, we generally found that street improvements have either positive impacts on corridor economic and business performance or non-significant impacts.
It's important to note that nothing always works everywhere ('some mixed results', here), but the balance of evidence is in favour of at least trialling traffic reduction schemes in commercial districts.
Harder to traverse for whom? Nobody drives down there currently so this would be no different. This will actually make it much easier for the tens of thousands of people that walk there every day