Global Blue reported that Russians are showing themselves as lavish shoppers, as they spent as much as 2.4 billion euro in European stores and have claimed about 1.1 billion euro in tax refunds.
The survey prepared
by the Global Blue shopping tourism company showed Russians and
Chinese are the world most prolific shoppers as the account for 18.4%
and 15.9% of Global Blue’s total tax
refund transactions. They are followed by
Indonesians with 4.6%.
On
average a Chinese shopper spends €3,000 on each transaction, well
above customers from Western countries. “Four years ago spending by
Chinese customers was roughly 30% of American spend. Today, it’s
significantly ahead. These are very serious tourists with a
propensity to spend,” Michael Ward, Managing Director of Harrods
said.
The
most popular category for
international customers is ‘Fashion & Clothing’, closely
followed by ‘Watches & Jewellery’.
“We
are gradually seeing men for whom watches are not just a status
accessory, but also a passion, who have an understanding of the
history and philosophy of brands, of their technical details, and who
want a high level of professionalism and knowledge from the
consultant,” Global Blue quotes the CEO of Imperial. Besides that,
many of them prefer to buy luxury stuff abroad as prices in Russia
are 15-13% higher.
Meanwhile,
sales in Russia of high-end items are set to grow by up to 20% in
2012, the country is now snapping at the heels of China. Through 2009
to 2011 Russia’s high-end market had been growing at an average of
5% annually, after a drop by the same 5% in 2009.
Most
shoppers consider Europe a shopping destination, with Singapore and
South Korea also key destinations, especially for wealthy
Indonesians. Indeed, Singapore accounts for 84% of all tax
refunds to Indonesians, according to Global Blue.
Though
retailers provide all year around opportunities, the launch of
seasonal fashion collections, peak holidays and sale periods are
considered by international shoppers. For Russian customers the top
five months in order of sales were: November, September, October,
January, and August. While for the Chinese, the top four months were:
November September, August, and July.
Source: Russia Today
Source: Russia Today