Oriental Travel Retail Observer: A Preview Summary ⬧ we summarized new actions on duty free industries in China and South Korea ⬧ observed travel retail tourism data around the world, analyzed the preferences of the Chinese travel retail customers ⬧ compared prices between the duty free shops of interest ⬧ we got to know offshore duty free industry in Hainan by interviewing daigous and consumers who paid recent visits to Hainan February 2021 ⬧ vol. 7 This report is produced by the OTRO Group. # of pages: 54 # of Words: 15,928 # of Tables and Graphs: 47 For purchase of the full contents, please contact:
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[email protected] 1 1.1 New Actions on China Duty Free 1.1.1 Offshore Duty free: duty free sales of RMB 3.8 billion (US$ 588 million) in January, number of duty free shops expands up to 9. From January 1st to January 31st, 2021, the offshore sales of the 9 duty free shops1 in Hainan totaled RMB 4.05 billion (US$ 627 million, including duty-paid sales), with a year-on-year increase of 168%. The duty free sales was RMB 3.78 billion (US$ 585 million), with a year-on-year increase of 143.6%; the number of shoppers was 509,000, with a year-on-year increase of 29%; the average transaction value was RMB 7,426 (US$ 1,153), with a year-on-year increase of 88.8%; the number of items sold counted 5.11 million, with a year-on-year increase of 146.6%. During the New Year's Day (December 31st, 2020 to January 2nd, 2021), the total sales (including duty-paid sales) of the 7 offshore duty free shops2 in Hainan exceeded RMB 550 million (US$ 85.42 million), with a year-on-year increase of over 200%.