Before the outbreak of the pandemic, Chinese travelers accounted for 4% of passengers at Dubai International Airport but contributed to 17% of the sales revenue in Dubai Duty Free.
The cdf Sanya International Duty-Free City primarily focuses on high-end fragrances and beauty products, introducing a total of 132 fragrance brands.
In terms of average spending, Chinese tourists had the highest expenditure at 1541 euros (+14%).
Wangfujing’s duty-free business generated revenue of ¥136 million with a gross profit margin of 13.46%. Currently, it accounts for 2.05% of the total revenue.
China Duty-Free Group launches the fifth edition of the Offshore Duty-Free Shopping Festival in Sanya, with the event running from June to October.
Gree Real Estate’s acquisition of Zhuhai Duty-Free for nearly 9 billion yuan marks its foray into the tax-free industry, paving the way for a consumer industry centered around tax-free businesses.
Since China reopened its borders in January, the recovery of mainland Chinese shoppers has been steadily improving, with a recovery rate of 22% for consumption in the European mainland region and 27% for consumption in the Asia-Pacific region.
Duty-free shopping recovering in Asia Pacific and Europe
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The average daily sales exceeded 350 million yuan, exhibiting an increase of 150 million yuan over the average daily sales before the holiday and an increase of 20.69% compared with the 2022 Spring Festival holiday and 329% compared with 2019.