At the nearby Castle Street Market, which has been popping up regularly for almost 20 years, traders were optimistic as they set out their wares on Saturday morning.
Alan Hannah, who runs a clothing and Scottish goods stall, said locals had been staying away due to the lack of buses going down Princes Street.
He spoke of his joy at Princes Street reopening, saying: “It’s great, it’s just such a delight to have it open and back to running.”
Hannah said he was looking forward to a “bumper” day of trade with the street reopening.
Douglas Copland runs a jewellery stall with his wife Meredith and has been coming to Castle Street Market each summer for 12 years.
He said footfall had been lower in the weeks following the fire, which had “definitely” affected trade.
Copland said: “I’m grateful, the sun’s out shining, this is our last two days of trading so we’re hoping to go out on a high.”
He added: “Perhaps with Princes Street opening it will be a tourist attraction in itself.”
Andy McCreath, who runs Castle Street Flowers, welcomed the reopening but said Princes Street needed more support and had appeared “run down for years”.
“Yes, it’s a shame to lose a historical building, if it comes to that.
“But realistically something has to be done with the whole of Princes Street.”