Today, at the Walpole British Luxury Summit in London, Global Blue CEO, Jacques Stern, will present new data that signposts the recovery of post-pandemic Tax Free Shopping in continental Europe.
Europe’s Tax Free Shopping recovery continues to make strong progress as international travel resumes
In the early months of 2022, Tax Free Shopping in Europe has seen its highest rate of post-pandemic recovery, reaching 66% in March 2022, versus the same period in 2019.
In April, the recovery reached a slightly lower rate (56%) due to the temporary impact of Ramadan and subsequent decreased travel amongst GCC shoppers.
Shoppers from the GCC, US and European region exceed 2019 spending levels
European recovery was fuelled by the strong performance of several top Tax Free Shopping nationalities. During Q1, GCC shoppers reached 175% recovery versus 2019, while those from the US and Regional Europe achieved 119% and 106% respectively.
Recovery rose to 155% for US shoppers and 134% for Regional shoppers in April, while it went down to 43% for GCC shoppers, due to the Ramadan period.
UK shoppers – a new nationality eligible for Tax Free Shopping since Brexit – also contributed to the improved recovery, accounting for 7% of all Tax Free Spend in Europe during April.
Tax Free Shoppers’ strong appetite to travel and spend is driving recovery
The ongoing recovery can be attributed to several key drivers, which include:
Pent-up demand: In 2022 (versus 2019), Tax Free Shoppers have increased their number of transactions and the average spend per transaction, which has led to an overall increase in individual spend: this is pent-up demand, which reached +137% amongst GCC shoppers, +90% amongst US shoppers and +98% amongst Regional shoppers in Q1
Jacques Stern, CEO, Global Blue commented:
“The strong performance of nationalities such as the GCC and the US is a very encouraging indication of how quickly and robustly Tax Free Shopping can recover when borders soften and international travel resumes. Meanwhile, the quick establishment of UK shoppers as a key Tax Free nationality offers promise for European retailers and we look forward to seeing the evolution of this new market throughout 2022 and beyond.”
To access and download the full presentation, visit the investor section of the Company’s website at Global Blue Group Holding AG - Investor Relations, in the Events & Presentations section.
All data are like-for-Like figures (at constant scope and currency).
Source: Global Blue
Virginie Alem – SVP Marketing & Communications
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ABOUT GLOBAL BLUE
Global Blue pioneered the concept of Tax Free Shopping 40 years ago. Through continuous innovation, we have become the leading strategic technology and payments partner, empowering retailers to improve their performance and shoppers to enhance their experience.
Global Blue offers innovative solutions in three different fields:
In addition, our data and advisory services offer a strategic advisory to help retailers identify opportunities for growth, while our shopper experience and engagement solutions provide data-driven solutions to increase footfall, convert footfall to revenue and enhance performance.
For more information, visit http://www.globalblue.com/corporate/
Pre-pandemic figures FY 2019-20
Forward Looking Statements
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