SIGNY, Switzerland, January 10, 2025–(BUSINESS WIRE)–A Sustained Performance in Continental Europe for International Shopping
In Continental Europe, the issued Sales in Store increased by +20%1 in December 2024 vs. last year, ahead of November growth (+16%1). This growth was led by a +22%1 increase in the number of shoppers and was slightly impacted by a softening of -2%1 in the average spend per shopper.
When examining origin markets, GCC shopper Tax Free Spend led the way at +41%1 vs. last year, followed by US shoppers at +34%1, European Non-Eu shoppers at 26%1, while Mainland Chinese shopper Tax Free Spend was flat (0%1).
Regarding destination markets, December showed a solid performance in Italy at +24%1, Spain at +22%1, and France at +19%1, partly due to the softening of the Euro against all major currencies.
A Very Strong Tax Free Spend Performance in Asia Pacific
In Asia Pacific, the issued Sales in Store growth reached +29%1 in December 2024, closely in line with November 2024 (+30%1), led by a +29%1 increase in the number of shoppers and no change in the average spend per shopper (0%1).
When examining origin markets, the positive momentum in issued Sales in Store growth continued across most nationalities. Mainland Chinese shopper Tax Free Spend led with a +54%1 increase, driven by a +81%1 rise in the number of shoppers. Hong Kong and Taiwan shopper Tax Free Spend experienced a rise of +13%1 vs. last year while North East Asia shopper Tax Free Spend softened by -19%1 vs. last year.
Regarding destination markets, December showed a strong performance across destinations, with South Korea at +64%1, Japan at +32%1, and Singapore at +6%1.
Worldwide Year-on-Year Growth Rate (2024 vs. 2023)
Issued SIS L/L
Year-on-Year Growth
Destination
market weight in
Issued SIS 2023
December
2024
November
2024
October
2024
CY
Q3 2024
CY
Q2 2024
CY
Q1 2024
France
19%
+19%
+12%
+10%
+2%
+10%
+11%
Italy
17%
+24%
+20%
+15%
+16%
+22%
+29%
Spain
11%
+22%
+20%
+21%
+24%
+33%
+32%
Germany
6%
+14%
+6%
-5%
+5%
+2%
+6%
Other countries
18%
+20%
+16%
+11%
+10%
+21%
+16%
Total Continental Europe
71%
+20%
+16%
+12%
+11%
+19%
+19%
Japan
18%
+32%
+34%
+32%
+57%
+172%
+137%
Singapore
8%
+6%
+8%
+16%
-3%
-1%
25%
South Korea
2%
+64%
+48%
+42%
+42%
+60%
110%
Total Asia Pacific
28%
+29%
+30%
+29%
+40%
+109%
97%
Total Latin America
1%
+32%
+34%
+32%
+23%
-2%
+9%
Total worldwide
100%
+23%
+21%
+17%
+19%
+41%
40%
Worldwide Recovery Rate (versus 2019)
Issued SIS L/L
recovery
(in % of 2019)
Destination
market weight in
Issued SIS 2019
December
2024
November
2024
October
2024
CY
Q3 2024
CY
Q2 2024
CY
Q1 2024
France
16%
173%
154%
150%
144%
164%
165%
Italy
17%
147%
147%
144%
146%
156%
123%
Spain
10%
180%
171%
158%
161%
164%
151%
Germany
9%
86%
79%
66%
75%
80%
65%
Other countries
19%
140%
134%
121%
126%
132%
126%
Total Continental Europe
71%
147%
138%
131%
133%
143%
128%
Japan
14%
307%
296%
293%
290%
327%
232%
Singapore
11%
77%
86%
87%
81%
92%
92%
South Korea
3%
174%
173%
163%
162%
158%
125%
Total Asia Pacific
28%
196%
198%
191%
186%
226%
166%
Total Latin America
1%
132%
110%
132%
104%
101%
94%
Total worldwide
100%
163%
155%
146%
145%
165%
140%
APPENDIX
GLOSSARY
– European Non-EU countries include: Shoppers who can reach destination by land transportation or less than a two hour flight. Ex: Swiss, British, Ukraine etc.– Gulf Cooperation Council countries include: Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman– North East Asia countries includes: Japan, South Korea– South East Asia countries includes: Indonesia, Thailand, Cambodia, Philippines, Vietnam, Malaysia, Singapore
Story Continues
ABOUT GLOBAL BLUE
Global Blue is the business partner for the shopping journey, providing technology and services to enhance the experience and drive performance.
With over 40 years of expertise, today we connect thousands of retailers, acquirers, and hotels with nearly 80 million consumers across 53 countries, in three industries: Tax Free Shopping, Payments and Post-Purchase solutions.
With over 2,000 employees, Global Blue generated €28bn Sales in Store and €422M revenue in FY 2023/24. Global Blue is listed on the New York Stock Exchange.
For more information, please visit www.globalblue.com
Global Blue Monthly Intelligence Briefing, December 2024, Source: Global Blue
_______________________
1 Growth rate variation year-on-year (2024 vs. the same period in 2023)
View source version on businesswire.com: www.businesswire.com/news/home/20250110794338/en/
Contacts
MEDIA CONTACTS Virginie Alem – SVP Marketing & CommunicationsMail: [email protected]
INVESTOR RELATIONS CONTACTS Frances Gibbons – Head of Investor RelationsMob: +44 (0)7815 034 212Mail: [email protected]
Global Blue Releases the Monthly Tax Free Shopping Business Update for December 2024 NY Times News Today.
Read More Details
Finally We wish PressBee provided you with enough information of ( Global Blue Releases the Monthly Tax Free Shopping Business Update for December 2024 )
Also on site :
- 25 Spring Desserts Starring Strawberries, Lemons & Pineapple
- Hezbollah leader says Lebanese gov’t must do more to end Israeli attacks
- Una señora de Coachella perdió sus pertencias en el incendio de la casa que rentaba; no contaba con seguro de inquilino