INTERNATIONAL. Global in-store tax-free shopping revenues soared +25% in July and +41% across the second quarter (April-June 2024), according to new data from tourism shopping tax refund company Global Blue.
In Continental Europe, the issued sales in-store growth rate grew by +12% year-on-year in July. This growth, Global Blue noted, was led by a +10% increase in the number of shoppers and a +2% rise in average spend per shopper.
Global Blue said the deceleration in July’s growth rate for this territory (+12% in July vs. +19% in Q2) was largely due to France (-2% in July vs. +10% in Q2), where, as it expected, the pre-Olympic Games preparations and restrictions had a negative impact on activity in Paris.
For origin markets, the positive momentum of issued sales in-store growth is evident across all nationalities, Global Blue observed. Mainland Chinese tax-free spend led with a +33% rise in July against last year, a slight acceleration compared with the +31% progression in Q2.
USA tax-free spend saw a +15% increase in July, complemented by a +20% increase in shoppers, while Gulf Cooperation Council country shoppers rose +7% year-on-year.
When examining destination markets, Global Blue revealed that July showed a positive performance for tax-free spend across most destinations, with Spain at +25%, Italy +19% and Germany +10% but France in negative -2% territory.
In Asia Pacific, the issued sales in-store growth rate continued to remain very high, reaching +64% in July, led by a +49% increase year-on-year in the number of shoppers and a +10% rise in average spend per shopper.
The deceleration in July’s growth rate (+64% in July vs. +109% in Q2) is partly due, Global Blue noted, to a stronger basis of comparison in July 2023 and the recent strengthening of the Yen against all major currencies, particularly against the Chinese RMB.
For Asia Pacific origin markets, the positive momentum in issued sales in-store growth continued across all nationalities. Mainland Chinese tax-free spend led in July with a +97% rise over July 2023, boosted by an increase of +107% in Mainland Chinese shoppers.
Northeast Asia tax-free spend in July grew by +76%, with Hong Kong and Taiwan spending experiencing +60% growth year-on-year.
When examining destination markets, July showed a positive performance across most Asia Pacific destinations, with Japan +103% and South Korea at +44% though Singapore was down -9%. ✈
