Global Blue’s European Tax Free Shopping sales experienced double digit growth during July as Chinese and US Globe Shoppers visited the continent during the holiday season.
European Tax Free Shopping (TFS) spend returns double digit growth (+13% year-on-year) after a relatively slow June (+8%), as summer tourist traffic increases transactions across the region by +12%.
Key Globe Shopper groups drive growth
The summer months generally see a TFS spending peak for leading nationalities and July saw large sales-in-store growth for Chinese and US shoppers, with both nations deep into their traditional holiday periods. Chinese spend grew by +20% calendar year-to-date, supported by increases in both average spend and transactions.
American Globe Shoppers were also a strong growth engine across all European destinations year-on-year (+23% calendar year-to-date), where the increase in sales was driven largely by a rise in transactions as US shoppers visited the region for summer vacations. However, the recent softening of USD vs EUR could potentially impact spend across the Eurozone over the coming months.
Russian visitors also saw a stellar month, with sales up +32% calendar year-to-date, driven by a +37% increase in transactions.
Key markets enjoy positive summer
With positive macro drivers and a soft base for comparison against July 2016, most European markets experienced growth.
Continued growth across most spend categories
During July, European department stores saw large volume of transactions, driving a calendar year-to-date increase in transactions of +21%. Watches and jewellery sales also continue to recover after a challenging 2016, with transactions up +10% calendar year-to-date. Fashion and accessories transactions also increased by +10% calendar year-to-date.