Retail in Asia

In Markets

China is the top shopper market

Chinese tax-free shopping spend fell -24 percent in March year-on-year, but a new report still ranks China as the world’s top shopper market because it accounts for a third of all global tax-free sales.

Global Blue, a Switzerland-based firm which processes travellers’ payments, attributed some of the decline in March to the recent terrorist attacks in Paris and Brussels as well as new visa restrictions on gaining access to the European Union.

Despite these issues, Global Blue expects Chinese overseas shopping to pick up this year, especially in May and October, both key travelling months that coincide with the major Chinese holidays of Labour Day (May 1-4) and Golden Week (October 1-7).

May is expected to be the busiest month for travel to Europe, Japan and South Korea, while October will be popular for visits to some destinations in Asia-Pacific, including Australia and Singapore.

(Source: Warc.com)