Global Blue Releases Fresh Insights on the Tax Free Shopping Business in September 2022
06 October 2022 - 9:10PM
Business Wire
New data from Global Blue shows that dynamic recovery for Tax
Free Shopping has been accelerating across Continental Europe and
Asia Pacific.
In Continental Europe, issued Sales in Store like-for-like has
further accelerated with a recovery of 108%1 in September vs. the
same period in 2019. US and Gulf Corporation Council citizens are
fueling these developments. In Asia Pacific, the overall dynamic
has remained stable over the last three months and it reached 51%1
in September vs. the same period in 2019.
Recovery in Continental Europe surpasses 100%
September was a significant month for Continental Europe.
Recovery further accelerated to reach 108%1 vs. 2019. Within
reopened travel corridors2, recovery reached 151%1.
With regards to origin markets, US and Gulf Cooperation
Council citizens fueled the solid developments across Europe. US
nationals continued to lead the recovery in most destinations with
a monthly recovery of 253%1 vs. the same period in 2019. Recovery
amongst Gulf Cooperation Council citizens significantly increased
with a monthly recovery of 247%1 vs. the same period in 2019. For
both nationalities, a solid recovery of traffic and strong
currencies against the euro are driving this trend.
Recovery for Chinese nationals remains low with a recovery of
11%1 due to remaining travel and sanitary restrictions.
Despite the absence of Chinese nationals, most destination
markets in Europe have recovered to 2019 levels. The recovery1
was particularly led by Greece at 170%, Portugal at 159%, and
France at 129%.
Recovery in Asia Pacific remains stable
In Asia Pacific, the overall dynamic has remained stable over
the last three months. In September, recovery reached 51%1 vs. the
same period in 2019. Within reopened travel corridors2, the
recovery reached 73%1.
Regarding destination markets, Singapore continues to
lead the recovery at 61%1 vs. 2019. This was followed by South
Korea at 47%1 and Japan at 42%1.
Travel corridors and restrictions news
Japan and South Korea plan to lift all restrictions in October.
Taiwan and Hong Kong plan to loosen their quarantine restrictions
for return travelers.
APPENDIX
Glossary
- Gulf Cooperation Council countries include: Kuwait, Qatar,
Saudi Arabia, United Arab Emirates, Bahrain, Oman
- South East Asia include: Indonesia, Thailand, Cambodia,
Philippines, Vietnam, Malaysia, Singapore
- North East Asia include: Japan, Korea
YTD Data
Issued SIS L/L recovery3
(in % of 2019)
Q3
2022
September 2022
August 2022
July
2022
Q2
2022
Q1
2022
Continental Europe
100%
108%
97%
95%
75%
53%
Asia Pacific
51%
51%
49%
52%
39%
16%
TOTAL
87%
93%
85%
85%
65%
40%
ABOUT GLOBAL BLUE
Global Blue pioneered the concept of Tax Free Shopping 40 years
ago. Through continuous innovation, we have become the leading
strategic technology and payments partner, empowering retailers to
improve their performance and shoppers to enhance their
experience.
Global Blue offers innovative solutions in three different
fields:
- Tax Free Shopping: Helping retailers at over 300,000
points of sale to efficiently manage 35 million Tax Free Shopping
transactions a year, thanks to its fully integrated in-house
technology platform. Meanwhile, its industry-leading digital Tax
Free shopper solutions create a better, more seamless customer
experience.
- Payment services: Providing a full suite of foreign
exchange and Payments technology solutions that allow acquirers,
hotels, and retailers to offer value-added services and improve the
customer experience during 31 million payment transactions a year
at 130,000 points of interaction.
- Complementary RetailTech: Offering new technology
solutions to retailers, including digital receipts and eCommerce
returns, that can be easily integrated with their core systems and
allow them to optimize and digitalize their processes throughout
the omni-channel customer journey, both in-store and online.
In addition, our data and advisory services offer a
strategic advisory to help retailers identify opportunities for
growth, while our shopper experience and engagement
solutions provide data-driven solutions to increase
footfall, convert footfall to revenue and enhance
performance.
For more information, visit
http://www.globalblue.com/corporate/
Global Blue Monthly Speaker Notes Data, September 2022,
Source: Global Blue
1 Recovery rate is equal to 2022 Issued Sales In Store divided
by 2019 Issued Sales In Store, like-for-like (ie: at constant
merchant scope and exchange rates)
2 Open corridor is defined as a travel line between 2 countries,
where there is no more sanitary or visa restrictions to go in the
destination country and to come back in the origin country.
3 Recovery rate is equal to 2022 Issued Sales In Store divided
by 2019 Issued Sales In Store, like-for-like (ie: at constant
merchant scope and exchange rates)
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MEDIA CONTACTS
Virginie Alem – SVP Marketing & Communications Mail:
valem@globalblue.com
INVESTOR RELATIONS CONTACTS
Frances Gibbons – Head of Investor Relations Mob: +44 (0)7815
034 212 Mail: fgibbons@globalblue.com
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