While shops probably attract people, its even more the case that people attract shops. For example, many cities have areas close to the water with surprisingly few shops, even though people like being close to water. The water restricts how you can move in the area, so there are fewer ways that people can happen to pass by - meaning even if the location is beautiful, there won’t be a lot of people there. Adding more shops won’t bring more people, just more bankruptcies.
