Hong Kong cosmetics chain blames drop in Chinese tourists for declining profits

Posted by Daniel Meesak
On 30th November 2015
decline, hong kong, shopping, tax free, tourism, trend

As Chinese people are changing their tourism patterns towards more exotic destinations instead of going to the special administrative regions of Hong Kong and Macau, retailers in Hong Kong are seeing declining profits and lower numbers of mainland Chinese customers. The Hong Kong cosmetics chain SaSa saw its half-year net profit drop by 55%, mainly […]

Chinese customers now account for 31 % of global luxury shopping

Posted by Daniel Meesak
On 16th November 2015
china, europe, growth, hong kong, luxury, macau, shopping, spending, tax free, trend

According to Bain & Company’s 2015 Worldwide Luxury Report, Chinese customers represent the largest group of customers for luxury products, holding a 31 % share of luxury shopping globally, followed by the United States (24 %), and Europeans (18 %). Despite that, Bain & Company reports that Asia performed historically poorly in the luxury market, […]

Japanese airport corporations to compete for Chinese tax-free shoppers with downtown stores

Posted by Daniel Meesak
On 2nd November 2015
airport, chinese, cosmetics, duty free, japan, outbound, shopping, tax free, tourism, tourists

Japanese airports are facing increased competition from downtown tax-free shops for tourist shopping, as the Japanese government target of 10,000 tax-free shops by 2020 has already been reached and with the number of shopping-oriented tourists from China rapidly increasing in their arrivals to Japan. Japan changed its regulation in regards to tax-free shopping on October […]