As someone else has pointed out, cycling and walking is something that only takes people a very short distance away from home, so the catchment area for your business is very small, compared to someone else who drives. It's also a very weather dependent activity, and you're quite limited in what you can carry.

Something like a bakery is fairly generic, any will do, so as long as people can get to your store you'll be OK, but a store that is quite niche will likely struggle.

This is one advantage shopping malls have, they're typically close to public transport, and have covered parking.