Against this backdrop, Global Blue recently held two VIP Retailer events in Japan (29 November) and Singapore (01 December) to discuss Asia Pacific’s Tax Free Shopping market and the long-term potential that exists within the region.

The events provided attendees with a detailed review of the sector’s performance over the last 12 months, focusing particularly on the challenging trading environment experienced by some retailers. While overall Tax Free sales growth in 2016 has been impacted by lower average spend per transaction, the number of transactions has risen strongly as the sector continues to grow in Asia Pacific.

The macro factors driving this growth paint a very positive picture of the region’s Tax Free Shopping sector and were discussed at length during the events. These included Asia Pacific’s booming travel industry, the long term opportunity presented by the Chinese globe shopper market and the growth of Tax Free Shopping within the region.

The events were attended by C-level representatives from luxury brands, tourism boards and financial institutions from across region, who joined briefings and panel discussions on the performance of the Tax Free Shopping Sector. Among the speakers were Global Blue President and CEO Jacques Stern, Harrods Managing Director Michael Ward and Greg Gelhaus, Head of Asia Pacific at Global Blue.

Asia: Changing Tastes for Tax Free Shopping

The events were also an opportunity to launch Global Blue’s latest white paper, “Asia: Changing Tastes for Tax Free Shopping”. Produced by Global Blue’s Intelligence team, the whitepaper examines how factors like the booming air travel industry, visa liberalisation and a growing Chinese middle class will continue to create huge opportunities for the Tax Free industry over the next few years.

The whitepaper takes a deep dive into Global Blue’s key Tax Free Shopping destinations: Japan, South Korea and Singapore and examines the shopping behaviours of top globe shopping nationalities. It also provides an overview of key Asian globe shopping nationalities and explores some new trends and shifts in consumption behaviour that can help brands keep up with the region’s fast-moving, experience-hungry globe shoppers.

 

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