Chinese Consumers Become The Biggest Buyers Of Overseas Duty-Free Market

Xu Lin, director of the planning department of the development and Reform Commission, said recently that in order to better meet the consumer demand of the residents and further smooth the channels of imports, some duty-free shops will be added, so that consumers can buy more products imported from abroad at home.

Due to the optimism of the prospect, the global large duty-free giant has accelerated the pace of acquisitions and mergers.

In March this year, the world's largest tourism retailer, Switzerland Dufry group, was 1 billion 300 million euros (US $1 billion 415 million).

The other fifth, the world's top tax exempt industry giant, Italy World Duty Free group.

This paction led Dufry to occupy the market share of over 1/4 of the industry and maintain the status of the largest duty-free shop in the world.

Hongkong DFS and Lotte Korea ranked second and third respectively according to the The Moddie Report2014 annual sales list of the largest duty-free shops in the world.

In order to satisfy the desire of Chinese consumers to purchase globally, purchasing agents and Hai Tao have also come into being. However, because of the low price and quality guarantee, duty-free shops have always been a must for outbound tourists.

Chinese tourists have vigorously promoted the duty free business of neighboring countries, such as Japan, Korea and Thailand.

LAOX, a Japanese comprehensive duty free shop, announced its semi annual report as of June 2015, and its net profit increased by about 78 times over the same period in 2014. It was mainly driven by the shopping boom of Chinese tourists to Japan's "burst buying", which led to a substantial increase in the performance of domestic stores.

In South Korea, the most famous Xinluo duty-free shop, 70% of overseas tourists, comes from Chinese tourists.

In May 2014, after the Xinluo duty free shop launched the Chinese website, its online retail sales increased by 39%, of which 30% came from Chinese consumers.

In hotels in Bangkok, Thailand, more than 90% of the customers are Chinese, and most of them speak Chinese.

Sombat, the vice president of King Power, the world's top ten duty-free shop, said in an interview with the Japan economic news, "driven by Chinese tourists," Power

It is expanding at an average annual rate of 10%~20%. "

Of course, the European market will benefit most.

The curiosity Daily quoted data from Bain and Global Blue as saying that in 2015, Chinese consumers' purchases of duty-free commodities in Europe increased by 64%, especially those that were affordable and easy to use.

Generation Research data show that perfume and cosmetics are the largest category of tourism retailing, accounting for 28% of the market share.

Not long ago, L'OREAL group even set up a department for tourism retail. The expanding duty-free consumer market was regarded as "sixth continents", accounting for 15% of L'OREAL's high-end brand revenue.

domestic

Demand has also contributed to the growth of China's duty-free shop sales.

In the past 3 years, the average growth rate of duty-free shops in China has reached 60%, according to the Korean network of Asian economies.

Since the launch of offshore duty-free policy in Hainan, Sanya duty-free shops have received more than 15 million customers in 4 years.

In September 2014, the world's largest single duty free shop, Sanya international duty free city (formerly known as "Haitang Bay duty-free shopping center") opened in Sanya, Hainan, with a commercial area of 72 thousand square meters.

The Boston Consulting Group survey shows that the global duty-free market in 2015 is expected to reach US $59 billion 800 million, two times more than it was 10 years ago. In 2015,

According to Conlumino, a retail market research firm, the market value of the global duty free market in 2014 reached US $48 billion 700 million, and it will reach US $73 billion 600 million by 2019.