According to a recent survey by Global Blue, an overseas shopping tax refund service company, Chinese shoppers’ travel propensity remains high, with 81% indicating plans to visit Europe in the coming months. ForwardKeys data shows that the recovery rate of European air capacity is expected to reach 85% of 2019 levels during the summer and autumn. Additionally, the number of Chinese passengers returning to Italy has already surpassed pre-pandemic levels, with June 2023 seeing 111% of the passenger numbers compared to 2019.
Tax-free shopping data from Global Blue for the second quarter of 2024 indicates that current Chinese shoppers are generally younger, with 68% being under 44 years old, a 7-percentage point increase from 2019. Moreover, these consumers prefer purchasing fashion apparel (accounting for 78%, a 4-percentage point increase from pre-pandemic levels), the recovery rate of which is the highest, reaching 62% of 2019 levels.
Additionally, the purchasing power of those under 44 has increased, with their average spending on fashion and apparel rising from €1,005 to €1,441, a 43% increase.
Among them, millennials (aged 30-44) have the strongest purchasing power, with an average expenditure of €3,590. Their favorite products are “luxury goods,” with average spending on luxury items significantly rising from €1,883 to €2,669, a 42% increase.
Galleria Vittorio Emanuele captured by Luxe.CO
In terms of tax-free consumption by destination city, Milan remains at the top, accounting for 44% of the national total in Italy, with a recovery rate of 65% compared to 2019 levels (the national average recovery rate in Italy is 59%). Following Milan are Rome (20%), Florence (10%), and Venice (7%). Tourists in Venice have the highest average expenditure at €2,273.
｜Source: Global Blue
｜Image Credit: Free image site Pexels, Luxe.CO Onsite Photography
｜Editor: LeZhi
