Globe shoppers are international tourists for whom shopping is a fundamental part of their travel experience. The advent of this new market segment has changed forever the face of retail and luxury, with a global business volume representing more than 48 bn Euros in 2013 just in Europe, Singapore, South Korea and Japan. Globe shoppers are a more powerful force than the Chinese market alone according to retail and luxury experts.
130911 top 10 findings global blue review 2012Manelik Sfez
The document discusses the rise of "globe shoppers", or international tourists who make shopping a priority when traveling. It summarizes data from Global Blue Analytics on the spending habits and trends of major globe shopper nations from 2012-2013. The top findings are that Chinese tourists have become the world's largest globe shoppers, with their spending growing 58% in 2012. Russians are the second largest group, with fashion purchases in Italy being very popular. The growth of middle classes in nations like China means the globe shopper market will likely continue expanding rapidly in coming years.
The globe shopper market, facts and figures.Manelik Sfez
Boundless travel is a fact of life today, and the world’s fastest growing economies are changing the face of wealth, and all of us, from big businesses to boutique brands, are entering a new age where the customers we value the most are the people we know the least. Every retail and hospitality business will need to engage and delight a new kind of customer, bringing unprecedented opportunity for growth from globe shoppers – the world’s most valuable customers. Here are a few facts about them.
The document provides an overview of the luxury goods market in China. It discusses key trends such as the rapid growth of luxury spending by Chinese consumers which has made China the second largest luxury market globally. The personal luxury goods market in China is estimated to reach around EUR 18 billion by 2017, growing at a CAGR of over 6% annually. Major opportunities for luxury brands include rising incomes and an expanding middle class, while challenges include high taxes and consumers increasingly shopping abroad. International luxury brands dominate the Chinese market but are also investing in local brands.
1) The worldwide personal luxury goods market grew 2% in 2013, marking a slowdown from previous years of double-digit growth and the first moderation since the 2009 financial crisis.
2) Euro fluctuations negatively impacted 2013 market performance despite real growth outpacing 2012, and the Japanese yen devaluation drove over half the difference between real and nominal growth.
3) Online luxury continues to grow rapidly at around 10% annually, with accessories having the highest online penetration and the US dominating the online luxury market.
China's Luxury Market - Losing Sheen? | Articles and PublicationsAranca
- China has traditionally been a major market for luxury goods, but its growth is slowing as economic growth declines and an anti-corruption campaign discourages "gifting luxury" goods.
- However, Chinese consumers continue to be the world's biggest spenders on luxury goods. They are increasingly purchasing luxury items overseas where prices are lower due to taxes in China.
- Chinese tastes are also becoming more sophisticated, preferring understated luxury brands, and relaxed visa rules make overseas shopping more convenient. While domestic sales cool, Chinese demand remains strong though changing in nature.
The document summarizes key findings from Bain & Company's 2014 Luxury Goods Worldwide Market Study. It finds that while the overall global luxury market exceeded €850 billion in 2014, growth is slowing. Personal luxury goods continue to buoy the market, having nearly tripled over 20 years to €223 billion in 2014, though growth is also slowing. Regionally, the Americas were the strongest growth engine in 2014 at 6% growth, while China saw its first contraction at -1% growth.
Currency movements and tourism levels significantly impact luxury goods companies' performance. In 2015, euro-reporting luxury brands performed best as a weaker euro made their products more affordable to foreign tourists. Meanwhile, US-based brands struggled from a strong dollar deterring tourism and reducing spending. Looking ahead, a weaker yuan may hurt luxury sales in regions popular with Chinese tourists, while European brands may continue to benefit from the euro's decline attracting more foreign shoppers.
130911 top 10 findings global blue review 2012Manelik Sfez
The document discusses the rise of "globe shoppers", or international tourists who make shopping a priority when traveling. It summarizes data from Global Blue Analytics on the spending habits and trends of major globe shopper nations from 2012-2013. The top findings are that Chinese tourists have become the world's largest globe shoppers, with their spending growing 58% in 2012. Russians are the second largest group, with fashion purchases in Italy being very popular. The growth of middle classes in nations like China means the globe shopper market will likely continue expanding rapidly in coming years.
The globe shopper market, facts and figures.Manelik Sfez
Boundless travel is a fact of life today, and the world’s fastest growing economies are changing the face of wealth, and all of us, from big businesses to boutique brands, are entering a new age where the customers we value the most are the people we know the least. Every retail and hospitality business will need to engage and delight a new kind of customer, bringing unprecedented opportunity for growth from globe shoppers – the world’s most valuable customers. Here are a few facts about them.
The document provides an overview of the luxury goods market in China. It discusses key trends such as the rapid growth of luxury spending by Chinese consumers which has made China the second largest luxury market globally. The personal luxury goods market in China is estimated to reach around EUR 18 billion by 2017, growing at a CAGR of over 6% annually. Major opportunities for luxury brands include rising incomes and an expanding middle class, while challenges include high taxes and consumers increasingly shopping abroad. International luxury brands dominate the Chinese market but are also investing in local brands.
1) The worldwide personal luxury goods market grew 2% in 2013, marking a slowdown from previous years of double-digit growth and the first moderation since the 2009 financial crisis.
2) Euro fluctuations negatively impacted 2013 market performance despite real growth outpacing 2012, and the Japanese yen devaluation drove over half the difference between real and nominal growth.
3) Online luxury continues to grow rapidly at around 10% annually, with accessories having the highest online penetration and the US dominating the online luxury market.
China's Luxury Market - Losing Sheen? | Articles and PublicationsAranca
- China has traditionally been a major market for luxury goods, but its growth is slowing as economic growth declines and an anti-corruption campaign discourages "gifting luxury" goods.
- However, Chinese consumers continue to be the world's biggest spenders on luxury goods. They are increasingly purchasing luxury items overseas where prices are lower due to taxes in China.
- Chinese tastes are also becoming more sophisticated, preferring understated luxury brands, and relaxed visa rules make overseas shopping more convenient. While domestic sales cool, Chinese demand remains strong though changing in nature.
The document summarizes key findings from Bain & Company's 2014 Luxury Goods Worldwide Market Study. It finds that while the overall global luxury market exceeded €850 billion in 2014, growth is slowing. Personal luxury goods continue to buoy the market, having nearly tripled over 20 years to €223 billion in 2014, though growth is also slowing. Regionally, the Americas were the strongest growth engine in 2014 at 6% growth, while China saw its first contraction at -1% growth.
Currency movements and tourism levels significantly impact luxury goods companies' performance. In 2015, euro-reporting luxury brands performed best as a weaker euro made their products more affordable to foreign tourists. Meanwhile, US-based brands struggled from a strong dollar deterring tourism and reducing spending. Looking ahead, a weaker yuan may hurt luxury sales in regions popular with Chinese tourists, while European brands may continue to benefit from the euro's decline attracting more foreign shoppers.
Global blue Shopping Guide Amsterdam Launch0 - version 2GlobalBlueHolland
This document discusses Global Blue's products and services for attracting foreign customers. It notes that Global Blue now offers multi-product, multi-customer, and multi-media solutions. It highlights growing opportunities in emerging markets like Brazil, Russia, India, and China and expects tax-free sales and spending from these countries to increase in 2010. The document promotes Global Blue's I-Shop mobile app and SHOP magazine to better connect merchants with foreign shoppers.
Korea has the 15th largest economy in the world. After recovering quickly from the 1997 Asian financial crisis, Korea has maintained steady economic growth and low unemployment. The two main types of foreign investment in Korea are foreign direct investment and portfolio investment, both of which have requirements under the Foreign Investment Promotion Act to facilitate investing in Korea. Logistics is highlighted as a promising sector for foreign investment due to Korea's location and growing logistics market.
Joma Sport comenzó en 1965 cuando su fundador Fructuoso López tenía solo 18 años. Más de 40 años atrás, cuando nadie invertía en tecnología, él probaba la resistencia de las pieles, el ajuste de las plantillas y la resistencia de las suelas. Fructuoso siempre le gustó el deporte debido a que representaba perseverancia y sacrificio, y se dio cuenta que los mejores representantes eran los deportistas, así que patrocinó a muchos futbolistas y atletas famosos. Joma Sport ahora tiene presencia en
This document analyzes the dispersion of multiple V-groove waveguides using Fourier transforms and mode matching. It presents a new rigorous dispersion relation in a fast-converging series for efficient numerical calculation. A closed-form dispersion relation based on a dominant mode approximation is shown to be accurate for practical applications involving double and triple V-groove guides. Field distributions are presented that confirm the validity of the dominant mode approximation.
ONG Panameña sin fines de lucro que trabaja arduamente fortaleciendo la practica y vivencia de los valores éticos, morales, espirituales y la unidad familiar, provocando un cambio de actitud en las personas, para que estos sean agentes multiplicadores de valores en sus escuelas y comunidades. Trabajamos con padres de familia estudiantes, profesores y maestros mediante seminario y talleres que los confrontan y así ayudarles a mejorar sus conductas lo cual les ayuda a ser mejores profesionales, estudiantes y padres de familia, para que nuestros niños tengan ejemplos dignos de imitar. SUS APORTES SON IMPORTANTES. Dios les colme de múltiples bendiciones
Los mejores aviones comerciales incluyen el Boeing 747, conocido como el "Jumbo Jet", el primer avión de fuselaje ancho; el Boeing 777, el bimotor más grande del mundo; el Airbus A340, un avión de cuatro motores para vuelos de largo alcance; y el Boeing 767, un avión bimotor de fuselaje ancho que reemplazó a otros modelos más antiguos.
Spanishkurse Bilbao, Spanishkurse Bilbao, Lernen Sie Spanisch in Spanien Spanisch-Sprachschule in Bilbao, Spanisch Sprachkurse für Erwachsene Schüler das ganze Jahr lang, Spanisch-Kurse in mehreren Städten in Spanien Jobs, Praktika in Spanien, Spanischkurse in Bilbao,
Metastore ECM verhuist naar Rijen (NB)Jack Warnars
Hierbij informeren wij u dat Metastore Nederland per 1 november aanstaande gaat verhuizen. Na vijf jaar in Oosterhout te zijn gehuisvest hebben we nu in Rijen een nieuw onderkomen gevonden.
MyEgoo.com permite a los usuarios crear páginas web en menos de 10 minutos sin conocimientos previos. Ofrece cuentas gratuitas con subdominios limitados y cuentas eName PRO con dominios completos por 29€ al año. El administrador contiene áreas para crear contenido, configurar la página y su aspecto visual, y decidir qué contenido mostrar.
1) El documento habla sobre la nueva demanda entablada por Marcela Pezet, funcionaria del gobierno de México, en contra del periódico El Correo de Oaxaca. Pezet alega que el periódico lucra con su imagen al publicar fotografías suyas en bikini.
2) Se mencionan los antecedentes de intentos previos por reprimir a El Correo de Oaxaca durante gobiernos anteriores. También se critica el uso de una mujer por parte del gobierno de Gabino Cué para intentar intimidar a la
Este documento describe las pruebas de acceso a los ciclos formativos de Formación Profesional inicial en la Comunidad Valenciana. Detalla las condiciones de acceso, las materias evaluadas y las exenciones disponibles para los grados medio y superior. También explica los cursos preparatorios para estas pruebas de acceso.
Context of smart grids in india knowledge paper of india smart grid day 2013L&C
This document discusses regulatory support needed for smart grid projects in India. It outlines three key areas of regulatory focus: economic regulation, safety and standards, and awareness and capacity building. Some challenges in these areas include the lack of optimal tariff design, investment approval mechanisms, interoperability standards, cyber security standards, and consumer awareness. Suggested interventions include introducing time-of-use tariffs, facilitating investment approvals, developing interoperability and cyber security standards, and conducting capacity building and consumer education programs. State regulatory commissions can support smart grid projects by leveraging factors in the Electricity Act that encourage competition, efficiency and optimal investments.
Este documento presenta citas y enseñanzas de los filósofos chinos Confucio y Lao Tse. Confucio enfatiza la importancia de la educación, el trabajo duro, y hacer lo correcto. Lao Tse habla sobre la sabiduría que viene de conocerse a sí mismo y los otros, y vivir de acuerdo con la naturaleza y el flujo natural de las cosas. Ambos filósofos enfatizan vivir de manera virtuosa y en armonía.
Este documento presenta una introducción a la IV unidad de un curso sobre exposición, montaje y cabida. Se propone como una síntesis de las unidades anteriores que permitirá a los estudiantes desarrollar un último proyecto colectivo aplicando los conceptos y habilidades aprendidas a lo largo del semestre. Además, incluye varios ejemplos de proyectos arquitectónicos y de diseño que exploran diferentes formas de experiencia habitable.
Pla estrategic La salle Alumni 2012 2014LaSalleAlumni
El documento presenta el plan estratégico de la asociación La Salle ALUMNI, cuya misión es proporcionar a los ex alumnos de La Salle Campus Barcelona un espacio para el intercambio de conocimientos y experiencias. Los objetivos principales son profesionalizar la asociación, redefinir y potenciar la bolsa de trabajo, fomentar un entorno de innovación abierta y networking, y facilitar el crecimiento profesional. El plan de acción incluye dotar a La Salle ALUMNI de un equipo profesional,
An article written by Interstice Consulting LLP about the Russian e-commerce sector, in the annual Singapore-Russia trade magazine "Opportunity Russia", published by the Russian embassy in Singapore.
An Post Smart Trends 2015 - Amárach PresentationAmarach Research
This document presents findings from Amárach Research on digital consumer trends in Ireland. It discusses topics like online spending habits, smartphone usage, online reviews, social media engagement, brand loyalty, and more. The key findings are that Irish consumers are increasingly conducting activities like shopping, banking, and media consumption online and via mobile devices. They also heavily rely on reviews and social referrals when making purchase decisions.
Global blue Shopping Guide Amsterdam Launch0 - version 2GlobalBlueHolland
This document discusses Global Blue's products and services for attracting foreign customers. It notes that Global Blue now offers multi-product, multi-customer, and multi-media solutions. It highlights growing opportunities in emerging markets like Brazil, Russia, India, and China and expects tax-free sales and spending from these countries to increase in 2010. The document promotes Global Blue's I-Shop mobile app and SHOP magazine to better connect merchants with foreign shoppers.
Korea has the 15th largest economy in the world. After recovering quickly from the 1997 Asian financial crisis, Korea has maintained steady economic growth and low unemployment. The two main types of foreign investment in Korea are foreign direct investment and portfolio investment, both of which have requirements under the Foreign Investment Promotion Act to facilitate investing in Korea. Logistics is highlighted as a promising sector for foreign investment due to Korea's location and growing logistics market.
Joma Sport comenzó en 1965 cuando su fundador Fructuoso López tenía solo 18 años. Más de 40 años atrás, cuando nadie invertía en tecnología, él probaba la resistencia de las pieles, el ajuste de las plantillas y la resistencia de las suelas. Fructuoso siempre le gustó el deporte debido a que representaba perseverancia y sacrificio, y se dio cuenta que los mejores representantes eran los deportistas, así que patrocinó a muchos futbolistas y atletas famosos. Joma Sport ahora tiene presencia en
This document analyzes the dispersion of multiple V-groove waveguides using Fourier transforms and mode matching. It presents a new rigorous dispersion relation in a fast-converging series for efficient numerical calculation. A closed-form dispersion relation based on a dominant mode approximation is shown to be accurate for practical applications involving double and triple V-groove guides. Field distributions are presented that confirm the validity of the dominant mode approximation.
ONG Panameña sin fines de lucro que trabaja arduamente fortaleciendo la practica y vivencia de los valores éticos, morales, espirituales y la unidad familiar, provocando un cambio de actitud en las personas, para que estos sean agentes multiplicadores de valores en sus escuelas y comunidades. Trabajamos con padres de familia estudiantes, profesores y maestros mediante seminario y talleres que los confrontan y así ayudarles a mejorar sus conductas lo cual les ayuda a ser mejores profesionales, estudiantes y padres de familia, para que nuestros niños tengan ejemplos dignos de imitar. SUS APORTES SON IMPORTANTES. Dios les colme de múltiples bendiciones
Los mejores aviones comerciales incluyen el Boeing 747, conocido como el "Jumbo Jet", el primer avión de fuselaje ancho; el Boeing 777, el bimotor más grande del mundo; el Airbus A340, un avión de cuatro motores para vuelos de largo alcance; y el Boeing 767, un avión bimotor de fuselaje ancho que reemplazó a otros modelos más antiguos.
Spanishkurse Bilbao, Spanishkurse Bilbao, Lernen Sie Spanisch in Spanien Spanisch-Sprachschule in Bilbao, Spanisch Sprachkurse für Erwachsene Schüler das ganze Jahr lang, Spanisch-Kurse in mehreren Städten in Spanien Jobs, Praktika in Spanien, Spanischkurse in Bilbao,
Metastore ECM verhuist naar Rijen (NB)Jack Warnars
Hierbij informeren wij u dat Metastore Nederland per 1 november aanstaande gaat verhuizen. Na vijf jaar in Oosterhout te zijn gehuisvest hebben we nu in Rijen een nieuw onderkomen gevonden.
MyEgoo.com permite a los usuarios crear páginas web en menos de 10 minutos sin conocimientos previos. Ofrece cuentas gratuitas con subdominios limitados y cuentas eName PRO con dominios completos por 29€ al año. El administrador contiene áreas para crear contenido, configurar la página y su aspecto visual, y decidir qué contenido mostrar.
1) El documento habla sobre la nueva demanda entablada por Marcela Pezet, funcionaria del gobierno de México, en contra del periódico El Correo de Oaxaca. Pezet alega que el periódico lucra con su imagen al publicar fotografías suyas en bikini.
2) Se mencionan los antecedentes de intentos previos por reprimir a El Correo de Oaxaca durante gobiernos anteriores. También se critica el uso de una mujer por parte del gobierno de Gabino Cué para intentar intimidar a la
Este documento describe las pruebas de acceso a los ciclos formativos de Formación Profesional inicial en la Comunidad Valenciana. Detalla las condiciones de acceso, las materias evaluadas y las exenciones disponibles para los grados medio y superior. También explica los cursos preparatorios para estas pruebas de acceso.
Context of smart grids in india knowledge paper of india smart grid day 2013L&C
This document discusses regulatory support needed for smart grid projects in India. It outlines three key areas of regulatory focus: economic regulation, safety and standards, and awareness and capacity building. Some challenges in these areas include the lack of optimal tariff design, investment approval mechanisms, interoperability standards, cyber security standards, and consumer awareness. Suggested interventions include introducing time-of-use tariffs, facilitating investment approvals, developing interoperability and cyber security standards, and conducting capacity building and consumer education programs. State regulatory commissions can support smart grid projects by leveraging factors in the Electricity Act that encourage competition, efficiency and optimal investments.
Este documento presenta citas y enseñanzas de los filósofos chinos Confucio y Lao Tse. Confucio enfatiza la importancia de la educación, el trabajo duro, y hacer lo correcto. Lao Tse habla sobre la sabiduría que viene de conocerse a sí mismo y los otros, y vivir de acuerdo con la naturaleza y el flujo natural de las cosas. Ambos filósofos enfatizan vivir de manera virtuosa y en armonía.
Este documento presenta una introducción a la IV unidad de un curso sobre exposición, montaje y cabida. Se propone como una síntesis de las unidades anteriores que permitirá a los estudiantes desarrollar un último proyecto colectivo aplicando los conceptos y habilidades aprendidas a lo largo del semestre. Además, incluye varios ejemplos de proyectos arquitectónicos y de diseño que exploran diferentes formas de experiencia habitable.
Pla estrategic La salle Alumni 2012 2014LaSalleAlumni
El documento presenta el plan estratégico de la asociación La Salle ALUMNI, cuya misión es proporcionar a los ex alumnos de La Salle Campus Barcelona un espacio para el intercambio de conocimientos y experiencias. Los objetivos principales son profesionalizar la asociación, redefinir y potenciar la bolsa de trabajo, fomentar un entorno de innovación abierta y networking, y facilitar el crecimiento profesional. El plan de acción incluye dotar a La Salle ALUMNI de un equipo profesional,
An article written by Interstice Consulting LLP about the Russian e-commerce sector, in the annual Singapore-Russia trade magazine "Opportunity Russia", published by the Russian embassy in Singapore.
An Post Smart Trends 2015 - Amárach PresentationAmarach Research
This document presents findings from Amárach Research on digital consumer trends in Ireland. It discusses topics like online spending habits, smartphone usage, online reviews, social media engagement, brand loyalty, and more. The key findings are that Irish consumers are increasingly conducting activities like shopping, banking, and media consumption online and via mobile devices. They also heavily rely on reviews and social referrals when making purchase decisions.
Europe and Central Asia Regional OutlookWB_Research
http://www.worldbank.org/globaloutlook
The Europe and Central Asia region suffered a significant economic slowdown in 2012 as the region faced significant headwinds, including weak external demand, deleveraging by European banks, poor harvest and inflationary pressures. As a result, growth fell to 2.7 percent in 2012, compared with 5.6 percent in 2011 with a sharp slowdown in developing Europe and less severe adjustments among Commonwealth of Independent States.
The document discusses how consumer behavior in Russia may change due to the economic downturn, outlining two potential types of consumers - "gamblers" who tend to maximize pleasure under crisis conditions by displaying individuality, and "thinkers" who tend to cut costs by complying with norms. It hypothesizes that gamblers may reduce foreign travel but not luxury consumption, while thinkers seek inspiration in classical styles and entertain at home more.
Shopping online is increasingly popular amongst Internet users in Russia. According to data gathered by Gemius, in October last year over 44.9 mln Russian Internet users visited e-commerce websites. This is an increase of 5.2 mln compared to the same month the previous year. The time spent on e-commerce websites in Russia has grown from an average of 1.32 minutes per visitor in October 2012 to 2.07 minutes in October 2013.
Real estate market in 2013 made a good start. Despite economy slowdown and negative industrial production index market remained solid in Q1 with record investment volumes and strong sector performance. Political and macroeconomy trends in Russia become more or less shaped after turbulent year 2012 and micro level prospects are now more or less clear. Corporations are not planning any significant expansion and focus on operational efficiency. So relocations are well planned driven by solid reasoning.
Extraordinary investment market results (3.4 USD bn in Q1 2013) are driven by two large deals that were negotiated in 2012.
However despite good start of the year we do not change our forecast for 2013 because of the expected slowdown in Q2 and disruption of business caused by March events in Cyprus.
Cyprus jurisdiction used widely by Russian real estate companies and investors due to favorable double tax avoidance treaty, English legal system and flexibility of local banks. Bank crisis will not destroy this system but will disrupt investment activity until major issues are settled down. It is not clear so far will any other jurisdiction may compete with Cyprus for real estate operations, but undoubtly investors will explore other options.
In Q2 economy will face recovery of industrial production so after Q1 destocking half year figures will be similar to previous year. However real estate market will slow down a little bit in comparison with fast start of the year.
Major threat for real estate business is increasing currency risk. Growing budget deficit creates pressure on Ruble which may lead to exchange rate ajustment later this year. However so far it is unclear how government will handle this deficit. That is why our 2013 outlook remains basically unchanged.
Indicators to watch in Q2:
-Logistic construction volumes
-Office take up in Moscow
-Shopping centers footfall
Similar to The Power of Globe Shopping in 2014 - Global Blue (7)
Secrets of a Successful Sale: Optimizing Your Checkout ProcessAggregage
https://www.onlineretailtoday.com/frs/26905197/secrets-of-a-successful-sale--optimizing-your-checkout-process
Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡
Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue. But payments are just one part of a chain. What’s the next touch point? How do you use the data sitting behind a payment to find the next loyal customer?
In this session you’ll learn:
• The integral relationship between payment experience and customer satisfaction
• Proven methods for optimizing the checkout journey
• Leveraging payments data for personalized marketing and enhanced customer loyalty
• Gain invaluable insights into consumer behavior across online and offline channels through data
5. The power of
globe shopping
UNDERSTANDING
THE UHNW CONSUMER
LONDON, June 14
6. globe shop∙per
/ˈglōbˌSHäpər/
noun
1. a person who considers shopping as a
fundamental part of their travel experience.
“globe shoppers are the sixth continent for
the retail industry”
7. noun
1. a person who considers shopping as a
fundamental part of their travel experience.
“globe shoppers are the sixth continent for
the retail industry”
2. a fast-growing retail market segment,
which global worth was estimated at more
than EUR 48 billion in 2013.
“building growth from globe shoppers – the
world’s most valuable customers.”
12. 27%
17%
4%3%3%
46%
JAN-DEC 2013: top 5 globe shopper nations by share of total spent
China Russia Indonesia USA Japan Others
Source: Global Blue Analytics
13. 22%
20%
5%4%3%
47%
JAN-APR 2013: top 5 globe shopper
nations by share of total spent
China
Russia
Indonesia
Japan
Thailand
Others
27%
17%
3%3%3%
47%
JAN-APR 2014: top 5 globe shopper
nations by share of total spent
China
Russia
Indonesia
USA
Japan
Others
Source: Global Blue Analytics
14. Angela Ahrendts
“Investors should switch their focus from China to the
TLC (Travelling Luxury Consumers), a more powerful
force than the Chinese market alone.”
16. 18%
16%
15%12%
11%
27%
JAN-DEC 2013: top 5 destination
countries by share of total spent
France
Italy
UK
Germany
Singapore
Others
18%
16%
16%12%
12%
27%
JAN-APR 2014: top 5 destination
countries by share of total spent
France
UK
Italy
Singapore
Germany
Others
Source: Global Blue Analytics
18. € '815
€ '647
€ '608
€ '509 € '501
€ '356
China USA Indonesia Japan Market Russia
JAN-DEC 2013: average spend of top 5
globe shopper nations
€ '870
€ '846
€ '648
€ '514 € '502
€ '358
Thailand China Indonesia Japan Market Russia
JAN-APR 2014: average spend of top 5
globe shopper nations
Source: Global Blue Analytics
19. Source: Global Blue Dossier “The growing complexity of the Chinese globe shopper”
30. The Chinese
spending
slowdown
Not related to outbound travel
New tourism law
Anti-corruption storm
Full stop of official travel
Destination shift to USA / Australia
Change in travel purpose
Rise of FIT / decline of groups
Impacted W&J, boosted F&C
31. Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan
2012-2014: year-on-year growth rate of Chinese spend on Watches & Jewellery
140%
120%
100%
80%
60%
40%
20%
0%
-20%
-40%
Source: Global Blue Analytics
32. 12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Ja
2012-2014: year-on-year growth rate of Chinese spend on Watches & Jewellery
140%
120%
100%
80%
60%
40%
20%
0%
-20%
-40%
Source: Global Blue Analytics
18th National Congress
33. 3 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14
2012-2014: year-on-year growth rate of Chinese spend on Watches & Jewellery
140%
120%
100%
80%
60%
40%
20%
0%
-20%
-40%
Source: Global Blue Analytics
35. The Russian
spending
slowdown
Rouble has been falling for a year
Russian spending down 8.5% in 2014
Economy was hit before the Crimean crisis
Crimean crisis impacts spending, not travelling
Outbound travel still steadily increasing 5%
Frankfurt and Milan mostly hurt in March
37. In 2014 we expect stronger tourist arrivals
in APAC (and USA) than in Europe
38. Nation 2014 2015 2016
China 13% 13% 13%
Russia 9% 13% 15%
Japan 2% 3% 3%
Indonesia 8% 8% 9%
USA 2% 2% 2%
General outbound travel Europe-bound travel
Nation 2014 2015 2016
China 6% 9% 7%
Russia 5% 7% 6%
Japan 0% 0% 0%
Indonesia - NA - - NA - - NA -
USA 2% 2% 2%
Source: Global Blue based on CNTA, Xinhua, Euromonitor, TTG Asia, Jakarta News, Tourism Economics, UNWTO, PATA, TourMIS.
39. Travel growth from
core markets still
positive, with a
stress on APAC
Major globe
shopper currencies
to strengthen
against EUR and
SGD
A better economic
outlook, yet with
downside risks
Rise of middle-class
in China, but with
travel ban for
officials and new
tourism law
Good afternoon;
It’s now more than 7 years that I travel the world to talk about globe shoppers, since at Global Blue we first identified and formalized the theory of this fast-growing consumer segment.
And today globe shoppers are truly everywhere!
I was sitting next to a Russian businessman this morning on the plane from Geneva, and he told me he just attended an auction in Geneva yesterday and was now heading for a shopping spree in London.
Actually he seemed pretty unhappy about his stay in Geneva, and so I asked what was the matter:
“Can you imagine that I got cheated out of a vase? I paid 50,000 dollars at the auction for a Ming vase for the office, and it turned out, darn it, that the vase was made in China!”
In most of the recent history shopping has been viewed as a laborious or functional activity at its best, one that most often must be undertaken as a means of survival.
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For the vast majority of the society, ‘purchasing goods from stores and market stables’ rarely, if ever, possessed qualities that could be considered enjoyable.
But times changed and the modern phenomenon of shopping actually emerged with the consumer society in the 18th century.
The development accelerated during the past century and shopping clearly became less of a utilitarian chore and more of a free-time activity to be undertaken as a pleasant pursuit or, at least, containing some elements of pleasure.
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The phenomenon accelerated to such extend that by the end of the 1980’s, as rising prosperity and social mobility increased the number of people with disposable income for consumption, shopping had become the leading free time and leisure activity in Europe and the US.
At that time international tourism went through a similar evolution, also driven by the rise in prosperity and social mobility.
This increased people’s disposable income and free time, and that international travel became a popular global leisure activity on the back of cheaper air and sea mass transport.
Travel and shopping both became common leisure activities, and tourists treating themselves with luxury items overseas represented an important customer for brands, merchants, and hotels.
The 80’s and 90’s saw the domination of American and Japanese tourists here in Europe, but even if the luxury industry cherished them and considered them very important clients it was a drop in the ocean compared to the developments to come after 2005.
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The late 90’s actually saw a turning point with the development of the Internet. It had a considerable impact on what John Hill calls a ‘shift toward a more integrated and interdependent world economy’ in his book ‘Managing Globalization’.
The Internet supported the movement toward a global village with cheaper, faster and easier means of communication and the provision of a vast pool of information.
It is commonplace today to think that the web enabled the expansion of e-commerce, but it truly did have a massive impact on traditional commerce and stores on the high street too.
Actually the real impact of e-commerce was on international tourism, as today tourism products are one of the most traded items on the Internet.
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The Internet created a global audience that was all of a sudden just a few clicks away from cultures, products, prices, stores, brands, fashion, and events that until then were on the other side of the world.
All of a sudden tourists could discover, browse, compare, select and plan remotely, integrating this information into their travel project in an easier and more educated way than ever.
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And this is why by the late 1990’s when the East and the BRIC economies started to rise, both the super-rich and the upper middle-class from Russia, China, and more recently Indonesia or Thailand, started to creep over developed countries in a quest for luxury as a means to take the Western culture for themselves.
This phenomenon climaxed after the global financial crisis in 2008, and when China’s economy skyrocketed between 2008 and 2012.
This is how the world would witness the advent of a new market segment that would change forever the face of retail and luxury.
It was embodying our society’s irresistible globalization and bringing unprecedented opportunities for growth.
We were the first to identify and define this new, fast-growing market segment of travelling retail customers.
At Global Blue we called them the globe shoppers, international tourists for whom shopping is a fundamental part of their travel experience.
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They represent, at the very least and if you only take into account major luxury shopping destinations such as Europe, Singapore, Seoul and Japan, but exclude Hong Kong, Dubai and the US, a market worth more than 48 bn Euros in 2013.
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This is how the world would witness the advent of a new market segment that would change forever the face of retail and luxury.
It was embodying our society’s irresistible globalization and bringing unprecedented opportunities for growth.
We were the first to identify and define this new, fast-growing market segment of travelling retail customers.
At Global Blue we called them the globe shoppers, international tourists for whom shopping is a fundamental part of their travel experience.
>> CLICK
They represent, at the very least and if you only take into account major luxury shopping destinations such as Europe, Singapore, Seoul and Japan, but exclude Hong Kong, Dubai and the US, a market worth more than 48 bn Euros in 2013.
>> CLICK
This is how the world would witness the advent of a new market segment that would change forever the face of retail and luxury.
It was embodying our society’s irresistible globalization and bringing unprecedented opportunities for growth.
We were the first to identify and define this new, fast-growing market segment of travelling retail customers.
At Global Blue we called them the globe shoppers, international tourists for whom shopping is a fundamental part of their travel experience.
>> CLICK
They represent, at the very least and if you only take into account major luxury shopping destinations such as Europe, Singapore, Seoul and Japan, but exclude Hong Kong, Dubai and the US, a market worth more than 48 bn Euros in 2013.
>> CLICK
This is how the world would witness the advent of a new market segment that would change forever the face of retail and luxury.
It was embodying our society’s irresistible globalization and bringing unprecedented opportunities for growth.
We were the first to identify and define this new, fast-growing market segment of travelling retail customers.
At Global Blue we called them the globe shoppers, international tourists for whom shopping is a fundamental part of their travel experience.
>> CLICK
They represent, at the very least and if you only take into account major luxury shopping destinations such as Europe, Singapore, Seoul and Japan, but exclude Hong Kong, Dubai and the US, a market worth more than 48 bn Euros in 2013.
>> CLICK
Seeing the Chinese demand surge, brands initially started to open stores in China; but the reality is that their cash registers more often than not are in Europe and the United States.
As Philip Guarino, an expert on emerging markets, recently told the New York Times, in today’s market brands are now dealing ‘with a demographic, not a geography’ anymore.
Prominent luxury and retail industry players have understood this high-performance segment and start to reorganize and put up strategies.
Luxury industry analysts also take the globe shopper market into account when evaluating the performance of luxury brands and their development potential.
And when announcing the creation of a new travel retail division to the press last December, the CEO of L’Oréal Group said that travel retail is a key channel for winning over one billion new consumers.
The point is that now, brands have to read and manage their P&Ls by nationality of customer, not only by sales markets.
These graphs show that the word’ globe shopper’ is not only a synonymous for Chinese tourist, and brands would be well-inspired to consider the globe shopper market in its totality, or at least make educated picks of the nationalities they want to target.
Angela Ahrendts, the former CEO of Burberry, encouraged investors to switch their focus from China to the “TLC”. Shorthand for the “travelling luxury consumer”, she argued that this was a more powerful force than the Chinese market alone.
Speaking of Burberry’s 25 “flagship markets” including London, New York, Dubai and Hong Kong, she said: “At any one time, 25% of transactions in those stores could be coming from Russian, Chinese or Middle Eastern consumers. It all depends what cultural holiday is taking place – Diwali, Ramadan, Chinese New Year or Christmas – as that’s when they travel.”
Mrs Ahrendts was very clear-sighted, because today what we see in our transactions is that globe shoppers more often than not outspend domestic customers by 7 to 1 in average on the high street.
As we said, brands are now dealing with a demographic, not a geography.
It is high time for brands to look at their business in terms of nationality of consumers and not sales markets.
However, after a few years of phenomenal growth from Chinese tourists recorded a bit everywhere in the luxury world, the market seems to be coming to maturity and the growth slowing down to more reasonable levels.
If we look at the year-on-year growth pace if the Chinese globe shoppers total spend, we see a downward trend that started at the beginning of 2012.
Of course there has been the new tourism law most recently, , which mainly had an effect on group tourism to Asian destinations, and of course the recent anticorruption mood in China had an impact on official travel and spending abroad that almost disappeared, but this trend actually started well before.
However, after a few years of phenomenal growth from Chinese tourists recorded a bit everywhere in the luxury world, the market seems to be coming to maturity and the growth slowing down to more reasonable levels.
If we look at the year-on-year growth pace if the Chinese globe shoppers total spend, we see a downward trend that started at the beginning of 2012.
Of course there has been the new tourism law most recently, , which mainly had an effect on group tourism to Asian destinations, and of course the recent anticorruption mood in China had an impact on official travel and spending abroad that almost disappeared, but this trend actually started well before.
However, after a few years of phenomenal growth from Chinese tourists recorded a bit everywhere in the luxury world, the market seems to be coming to maturity and the growth slowing down to more reasonable levels.
If we look at the year-on-year growth pace if the Chinese globe shoppers total spend, we see a downward trend that started at the beginning of 2012.
Of course there has been the new tourism law most recently, , which mainly had an effect on group tourism to Asian destinations, and of course the recent anticorruption mood in China had an impact on official travel and spending abroad that almost disappeared, but this trend actually started well before.
Meanwhile, the Russian spending abroad has been more stable, although slowing down in growth along with the economy for a bit more than a year now. It only started to decelerate significantly in the past few months, just before the Crimean crisis.
Meanwhile, the Russian spending abroad has been more stable, although slowing down in growth along with the economy for a bit more than a year now. It only started to decelerate significantly in the past few months, just before the Crimean crisis.
Meanwhile, the Russian spending abroad has been more stable, although slowing down in growth along with the economy for a bit more than a year now. It only started to decelerate significantly in the past few months, just before the Crimean crisis.
Nothing to do with the travel trends
Some of you may be familiar with this not-so-old forecast by the world tourism organization, saying that by 2020 outbound tourism from China would reach 100 million travelers.
Well, we have almost reached this number in 2013, and it will certainly be reached before 2015.
So as we’ve seen on my previous slide now you can safely double this forecast, and bank on 200 million outbound travelers from China in six years from now.
New tourism law, impact on groups and travel cost (Europe, 30%, Asia. 200-300%)
This means less money for shopping
Currency fluctuations > also and especially valid for all emerging countries
Ban on Chinese official travel, represent 20 to 40% of all spending depending on destinations
Shift to the USA / Australia, with different consumption patterns and travel purpose
Shopping at home, Chinese consumption of luxury goods up 14% in December 2013 for exampl
What are the possible conclusions of the previous slide:
If we believe GDP is a good indicator for travel growth this should be around 5%.
In general terms the economic outlook is improving, but there are downside risks.
Traveller currencies should strengthen on the EUR giving us a positive push.
In summary probably not a lot of change.
“Some brands have 150 store locations in China alone, but their cash registers are in Europe and the United States.”
“Some brands have 150 store locations in China alone, but their cash registers are in Europe and the United States.”