Chic Outlet Shopping Villages achieve record double-digit growth in tourist sales
The luxury outlet Villages, operated by Value Retail achieved an impressive 81% increase in tax refunded sales in Q3.
In Q3 (Jul-Sept) 2010, increases in tax refunded sales for each of the nine luxury brand Chic Outlet Shopping(R) Villages are significantly higher than their respective city benchmarks (as defined by Global Blue) and, for the second successive quarter, all Villages have achieved growth in excess of 50% in tax refunded sales compared to the same period in 2009.
Across the Collection, tax refunded sales have been dominated by two contributing markets year to date: China, which showed an increase of 95%, and the Middle East with an increase of 55%, each respective market representing one quarter of the total of tax refunded sales achieved. The fastest growing market continues to be Russia, however, which, at +98%, has almost doubled the figures recorded in 2009.
The average spend per tax refunded transaction in Q3 was EUR287, an increase of 10% compared to the same period in 2009, with the highest spend per tax refunded transaction year-to-date attributed to visitors from the USA who spent an average of EUR318, an increase of 8% against 2009.
The Chic Outlet ShoppingVillages have some 900 boutiques of renowned international and niche European offering reductions of up to 60% off the recommended retail price, all year round, in addition to the tax free savings (up to 15%) available to non-EU residents.
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