Global Blue’s European Tax Free Shopping (TFS) sales performance remained positive in March, ending Q1 2017 strongly. Growth can be attributed to a steady rise in transaction numbers across most major European markets.
European TFS experienced a third consecutive month of double-digit growth during March, with year-on-year sales increasing +16%. This follows growth of +25% and +26% in January and February respectively, thanks to strong performance during Chinese New Year.
While sale progression was softer than the previous two months, March is traditionally a slower month for Tax Free sales and +16% growth represented a positive result.
UK pricing slows growth
France & Italy transactions up
Most markets in Europe continue to perform well, driven largely by an increase in transactions from key Globe Shopper nationalities.
Chinese average spend rises
Strong growth for Russians and Americans
Gulf nations decline continues
The continuing strong performance of European markets during Q1 2017 is reflected across all spend categories. European department store sales grew by +20% year-on-year, while fashion and accessories sales increased by +32%. Watches and jewellery sales continue to rise (+14% year-on-year), with transaction growth for outstripping fashion and accessories during Q1 (+15% vs +14%).