INTERNATIONAL. Strong momentum in global in-store tax-free shopping revenues has continued in August with a +17% year-on-year rise, according to new data from tourism shopping tax refund company Global Blue.
The result follows the highly-positive revenue numbers from the previous four months which, as reported, saw a rise of +25% in July and +41% across the second quarter.
In Continental Europe, the issued sales in store growth rate increased by +10% in August 2024 against last year. This increase was led by a +8% increase in the number of shoppers and a +2% increase in the average spend per shopper.
Regarding origin markets, Global Blue said positive momentum in issued sales in store growth was evident across most nationalities. Mainland Chinese tax-free spend led with +25% in August compared with the same month last year, while US tax-free spend was positively influenced by travellers to the 2024 Paris Olympic and Paralympic Games (+18%).
However, there was a negative result from Gulf Cooperation Council country shoppers, which saw in-store tax-free shopping revenues decline -1% in August.
In terms of destination markets, there were strong August showings from Spain (+23%) and Italy (+12%). Some way behind were Germany (+3%) and France (+3%), which Global Blue said reflects the contrasting impact of the Olympic and Paralympic Games by nationality.
In Asia Pacific, the issued tax-free sales in store growth remained strong, reaching +37% in August. The strong result was sparked by a +38% increase in the number of shoppers, though, notably, there was a -1% decrease in average spend per shopper.
Global Blue observed that the growth rate in August softened compared to the hyper-growth of +94% in the May-July 2024 period. This, it said, is due to a higher basis of comparison, as well as the recent strengthening of the Yen against all major currencies, particularly against the Chinese RMB.
Regarding origin markets, the positive momentum in issued tax-free sales in store growth continued across all Asia Pacific nationalities in August. Mainland Chinese tax-free spend led with +49%, boosted by a +72% increase in Mainland Chinese shoppers.
Meanwhile, Northeast Asia (Japan and South Korea) tax-free spend grew by +37% in August against the corresponding month of last year while Hong Kong and Taiwan experienced a +34% growth rate.
Considering destination markets, Global Blue noted August showed a positive performance across destinations, with Japan at +50%, South Korea at +43% and Singapore at +4%. ✈
