Value retail announces 2011 end of year results - South East Asians contribute to 69% growth
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Value retail announces 2011 end of year results - South East Asians contribute to 69% growth
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Category: Asia Pacific - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2012-03-19
South East Asian travellers contribute to 69% growth in tax refunded sales
South East Asia’s emerging middle class continues to make its spending power felt in Europe as seen in Value Retail’s 2011 global tax sales refunds for the Chic Outlet Shopping® Villages. Value Retail announced a 58% growth in tax refunded sales at the end of 2011 for the Collection of nine Chic Outlet Shopping® Villages, of which 69% of growth was contributed by South East Asian travellers. Singaporean spending at the Villages increased by 81% compared to the previous year while Malaysian spending increased by 66%.
According to the end of year report by Global Blue, the world’s largest tax-free shopping programme, South East Asians continue to rank in the top five visiting nationalities at the Chic Outlet Shopping® Villages. They maintained the fourth position behind Russians through the year of 2011, while Chinese and Middle Eastern travellers held the first and second position respectively.
The average spend of visitors from Singapore in 2011 was an impressive €274, coming in very close to the global average customer spend of €294. Malaysia’s average customer spend for 2011 was €258, growing by 3% from 2010.
Manelik Sfez, VP Partner & Corporate Marketing, Global Blue, said: “The year-on-year tax-free sales increase that Value Retail-operated Chic Outlet Shopping® Villages have posted is consistently above the performance of their respective nearby cities. It shows that the Chic Outlet Shopping® Villages are in line with their times and that Value Retail is capable of attracting shoppers from all over the world.”
Bicester Village in Britain and Kildare Village in Ireland remain the most popular Villages frequented by South East Asia travellers in 2011. Las Rozas Village in Madrid follows at a close third, having gained popularity through the year.
About Chic Outlet Shopping
The Collection of nine Chic Outlet Shopping® Villages is operated by Value Retail, the only company to specialise exclusively in the development of luxury outlet shopping villages. Home to 900 boutiques, the nine Villages offer the authentic previous seasons’ collections of leading luxury fashion and lifestyle brands with savings of up to 60%, and sometimes more, on the recommended retail price, all year round. Within easy reach of some of Europe’s favourite gateway cities – London, Dublin, Paris, Madrid, Barcelona, Milan/Bologna, Brussels/Antwerp/Cologne, Frankfurt, Munich – the Villages have become synonymous with high fashion, superior service and hospitality, a calendar of celebrated events, and exceptional value for money. Located in regions of cultural and historic renown, the Villages have become international tourist destinations in their own right.
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