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Global Blue’s July 2024 Monthly Tax Free Shopping Business Update Now Available

Tax Free Shopping is a popular option for international travelers looking to save money on their purchases while exploring new destinations. The year-on-year variation in Tax Free Shopping growth provides valuable insights into the trends and patterns of global shopping behavior. In July 2024, the issued Sales in Store like-for-like year-on-year performance reached +25%, showing a positive trend in the industry.

Continental Europe has shown sustained performance in international shopping, with a growth rate of +12% in July 2024 compared to the previous year. This growth was driven by a +10% increase in the number of shoppers and a +2% increase in average spend per shopper. However, the deceleration in growth rate in July compared to Q2 was largely attributed to France, where pre-Olympic Games preparations and restrictions had a negative impact on activity in Paris.

When it comes to origin markets, Mainland Chinese Tax Free Spend led the way with a +33% increase compared to last year. The US also saw a positive growth rate of +15%, boosted by an increase in shoppers. GCC shoppers experienced a +7% growth rate, showing a positive momentum across all nationalities.

In terms of destination markets, Spain, Italy, Germany, and France all showed positive performance in July. Spain led with a growth rate of +25%, followed by Italy at +19%, Germany at +10%, and France at -2%. Despite the slight decline in France, overall, the continent of Europe has shown a positive trend in Tax Free Shopping growth.

Moving on to Asia Pacific, the region continues to see very high growth rates in Tax Free Shopping, reaching +64% in July 2024. This growth was driven by a +49% increase in the number of shoppers and a +10% increase in average spend per shopper. Mainland Chinese Tax Free Spend led the way with a +97% increase, followed by North-East Asia with a +76% growth rate. Japan, South Korea, and Singapore all showed positive performance in destination markets.

Overall, the worldwide year-on-year growth rate in Tax Free Shopping in 2024 compared to 2023 was +25%, showing a positive trend in the industry. The recovery rate compared to 2019 also showed positive growth across various destination markets, indicating a strong rebound from the impact of the pandemic.

Global Blue, the business partner for the shopping journey, provides technology and services to enhance the shopping experience and drive performance. With over 40 years of expertise, Global Blue connects retailers, acquirers, and hotels with millions of consumers across 53 countries. In FY 2023/24, Global Blue generated €28bn Sales in Store and €422M revenue, showcasing its strong presence in the industry.

In conclusion, the year-on-year variation in Tax Free Shopping growth provides valuable insights into the global shopping trends and patterns. With positive growth rates in Continental Europe and Asia Pacific, as well as strong recovery rates compared to 2019, the industry is showing resilience and adaptability in the face of challenges. Global Blue continues to be a key player in driving performance and enhancing the shopping experience for international travelers worldwide.

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