Tax-free spending by Chinese Mainland consumers in Continental Europe increased by 25% year-on-year, while in the Asia-Pacific region, it grew by 49% year-on-year.
Duty-free spending by consumers from the Chinese Mainland increased by 33% year-on-year in July, showing a slight acceleration compared to the 31% growth in the second quarter.
The study found that due to the depreciation of the yen, Japan has currently become the most attractive destination for Chinese consumers to purchase luxury goods, while Hong Kong is the least attractive destination for consumers from the Chinese Mainland.
On August 8, the company’s stock price dropped by JPY 700 to JPY 3,810 per share, hitting the lower limit, with a latest market capitalization of JPY 1.523 trillion.
From Singapore to Hanoi, from Hong Kong to Kuala Lumpur, consumer spending patterns, tourist numbers, and market dynamics in major Asian cities have all undergone changes.
Millennial Chinese travelers (aged 30-44) have the strongest purchasing power, with an average expenditure of €3,590.
The same-store sales in the Asia-Pacific region increased by 3% in the fiscal year 2024, but experienced a 17% decrease in the fourth quarter.
Why did the largest commercial complex under LVMH’s DFS settle in Yalong Bay, Sanya?
Hainan remains the operational core of China Duty Free Group (CDFG). Revenue from the Hainan region increased by 14.3% year-on-year to 39.65 billion RMB, contributing 58.7% to the company’s total revenue.
2024 will be a decisive year for the travel retail market.
