The survey was undertaken by Wairarapa Property Consultants, LJ Hookers and Property Brokers.
Registered valuer Dan Lovett, of Wairarapa Property Consultants, said they defined "pedestrian" as adults over 15, as potential shoppers.
They excluded people going about service duties, such as police, construction and delivery workers.
The firms undertake the surveys to gauge shopping patterns for retail sites.
He said Saturday numbers should have been better, but it was easily possible weather was a factor.
"Wellington shopping, Palmerston North shopping and online shopping may have contributed to some vacancies."
Mr Lovett said feedback from clients on Queen St was that the move of the Masterton Chief Post Office on Queen St and Lincoln Rd "many years ago" had started to change the pedestrian traffic in Masterton.
"Years later the move of Mitre 10 out of Queen St had a major impact on the north end of town.
"Development of Kathmandu and others at roughly the same time helped the southern end of Queen St."
The area of Queen St, between Perry and Jackson, was "quite well taken up" with shops.