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October Report 2018 Contents

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October Report 2018 Contents intelligence October Report 2018 Contents Tax Free Trends Summary 03 Tax Free Sales Trends 05 Tax Free Sales by Destination and Source 07 Top 5 Visitor Nations per Destination Country 09 Currency Trends 10 Arrivals Forecast Europe Overview 13 France 14 United Kingdom 15 Italy 16 Spain 17 Germany 18 Austria 19 Finland 20 International Holiday Calendar 21 October Report 2018 Planet Intelligence | 2 Shopping & Arrivals Growth Summary - October 2018 Top 5 Destination Markets +5% Total Sales Tax Free Vouchers/ Avg. Transaction Arrival Sales Turnover Transaction Values (ATV) Numbers France +12% +4% +7% +5% United Kingdom -6% -12% +6% +7% Italy +11% +4% +8% +6% -2% Total Vouchers Spain -3% +12% -13% +6% Germany +0% -11% +12% -2% Top 5 Source Markets Tax Free Vouchers/ Avg. Transaction Arrival Sales Turnover Transaction Values (ATV) Numbers +7% Total ATV China +13% +1% +12% +2% USA +31% +12% +17% +16% Russia -22% -16% -8% -9% Taiwan +16% -9% +27% -7% +5% South Korea -1% -8% +8% -5% Total Arrivals October Report 2018 Planet Intelligence | 3 Shopping & Arrivals Growth Summary - YTD Top 5 Destination Markets -2% Total Sales Tax Free Vouchers/ Avg. Transaction Arrival Sales Turnover Transaction Values (ATV) Numbers France +3% -3% +6% +5% United Kingdom -12% -12% +0% +3% Italy +6% +3% +3% +6% -7% Total Vouchers Spain -10% -10% +0% +1% Germany -4% -9% +5% -0% Top 5 Source Markets Tax Free Vouchers/ Avg. Transaction Arrival Sales Turnover Transaction Values (ATV) Numbers +6% Total ATV China +5% -5% +11% +3% USA +10% +2% +8% +6% Russia -19% -16% -3% -7% Hong Kong -9% -8% -1% +4% +3% Taiwan +9% -6% +15% +4% Total Arrivals October Report 2018 Planet Intelligence | 4 Tax Free Shopping Sales Trends – October 2018 Overview Sales to Chinese tourists Following a period of modest decline in the last two months, posts strong gains despite Tax Free shopping sales in Europe regained momentum in October, recording a 5% year-on-year increase. currency fluctuations Sales in the month were boosted by the Chinese Golden Week The escalating US-China trade war is affecting much more than holiday, which saw a 13% increase in Tax Free sales to Chinese just business-to-business trade, with tourism between the tourists as well as significant growth in sales to American two nations also coming under strain. The first three quarters tourists. The continued strengthening of the US dollar against of 2018 have seen a 17% year-on-year decline in flight bookings the euro and pound is making Europe a much more attractive from China to the US, according to travel website Skyscanner. destination for American tourists, with Tax Free sales growing com. During the summer, the Chinese embassy warned its 31%: the highest of the top five source markets. citizens of the ‘dangers’ of travel to the US. Since then, this downward trend has continued at pace, with year-on-year Of the major destination markets, France posted the strongest bookings to the US down 42% for Golden Week. gains this month, with a 12% increase in sales compared with the same month in 2017. This increase marks the second month Conversely, in Europe Tax Free sales to Chinese tourists increased in a row that the country has shown strong positive growth, 13% year-on-year for the month of October. Although this was the following September’s sizeable 11% year-on-year second-highest rate of growth, in volume terms the sales increase sales increase. was the largest among all source markets in October. Golden Week 2018 led to an influx of Chinese tourists across the continent and their share of tourists in most countries rose Y/Y Sales Growth approximately 30%; higher than the respective year-to-date 2017 2018 30% figure for every country. Italy was a key destination and the Chinese share of Tax Free shoppers rose to 43% in October 25% versus 32% in year-to-date terms. 20% As the European Commission’s EU-China Tourism Year has 15% reportedly resulted in positive outcomes, many European countries are following suit by making concerted efforts to 10% attract high-net-worth visitors from China. 5% Tourist boards such as Fáilte Ireland – Ireland’s national tourism development authority – are encouraging retailers and attractions 0% to take practical measures such as introducing Chinese-language -5% signage and preferred Chinese payment methods. Coupled with the introduction of direct flights from China in June 2018, these -10% measures seem to be paying off, with Chinese Tax Free sales in JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Ireland growing by 20% in October. October Report 2018 A younger, independent Chinese tourist emerges Europe is witnessing a shift in the typical profile These young tourists are also adventurous and want a variety of its Chinese tourists. An increased number of of experiences while on holiday, including exploring the city Chinese visitors are now deciding to travel alone and nature, visiting museums and experiencing art, and or with family and friends, as opposed to with tour shopping. Yet while there is a widening interest in experiential groups – a travel method more traditionally seen. travel, shopping still plays a key part in the holiday plans of This trend is being driven by younger, more this demographic. According to UBS, Chinese consumers tech-savvy individuals who utilise services such typically intend to spend just under 20% of their disposable as WeChat to get ideas for their next destination, income on purchasing luxury goods; a figure that remains constant year on year. and Ctrip to make their bookings. Chinese millennials (Gen Y) are an important shopping When asked about their travel preferences, these younger demographic for European retailers, with almost €7 out shoppers prefer to plan their own trips and like to travel with of every €10 of Tax Free sales being attributed to these friends (89%) or alone (45%). These statistics differ vastly shoppers. And while experiences form an increasingly when compared to the proportion who liked to travel with prominent part of the travel itinerary, October’s figures in tour groups (11%). France and Italy demonstrate that shopping is still high on the agenda, with an average €1,518 per transaction. This is higher than any other age category with the exception of Generation Z. However, Gen Z tourists currently only represent 1% of total sales but are beginning to grow in prominence. Who I like to travel with on holiday What I like to do on holiday Average transaction value - France and Italy Others 1% Mainly staying in 17% €1,839 Meet new people 27% €1,518 Personalised tour groups 2% €1,441 Musical experience 33% Tour groups 11% €1,200 Cafes, bar restaurants 52% Cruise 13% Shopping 54% Family trip (self-planned) 24% Museums and art 60% Travel alone (self-planned) 45% Explore nature 61% Travel with friends (self-planned) 89% Explore the city 81% Baby Boomers Gen X Gen Y Gen Z October Report 2018 Planet Intelligence | 6 Sales Performance - October 2018 By Destination By Source Market FRA +11.7% CHN +13.2% GBR -6.1% USA +31.4% ITA +11.4% RUS -22.5% ESP -3.1% TWN +15.7% DEU +0.1% KOR -0.5% AUT +13.3% HKG -23.4% CZE -9.9% SAU +40.4% IRL +16.4% THA +12.7% PRT -23.4% JPN +15.9% GRC -5.2% KWT +3.2% October Report 2018 Planet Intelligence | 7 Sales Performance - YTD By Destination By Source Market FRA +2.5% CHN +5.3% GBR -11.8% USA +10.3% ITA +6.5% RUS -18.5% ESP -9.6% HKG -8.7% DEU -4.3% TWN +8.7% AUT +12.4% KOR -3.7% IRL -0.4% UAE -10.0% CZE -9.2% THA +1.0% PRT -13.3% SAU -4.3% CHE +9.0% KWT -10.3% October Report 2018 Planet Intelligence | 8 Top 5 Visitor Nations per Destination Country – October 2018 Top 5 Share ATV Y/Y Sales Top 5 Share ATV Y/Y Sales FRA CHINA 39% € 1,669 27% AUT CHINA 39% € 620 18% USA 10% € 1,353 46% TAIWAN 8% € 662 14% SOUTH KOREA 6% € 758 -9% SWITZERLAND 7% € 406 -1% TAIWAN 5% € 2,150 41% RUSSIA 6% € 427 -10% SAUDI ARABIA 5% € 4,543 197% THAILAND 5% € 605 100% GBR CHINA 28% € 402 -9% CZE CHINA 34% € 283 -6% USA 8% € 410 11% TAIWAN 17% € 223 7% KUWAIT 5% € 364 1% RUSSIA 15% € 315 -35% HONG KONG 5% € 411 -2% SOUTH KOREA 7% € 183 -10% UAE 4% € 611 4% USA 6% € 400 5% ITA CHINA 43% € 1,140 29% IRL USA 39% € 110 20% USA 12% € 1,140 34% CHINA 35% € 528 20% RUSSIA 6% € 725 -26% CANADA 5% € 88 19% TAIWAN 4% € 1,265 -5% AUSTRALIA 4% € 143 11% SOUTH KOREA 3% € 813 33% HONG KONG 2% € 622 211% ESP CHINA 30% € 509 -6% PRT CHINA 39% € 2,547 -6% RUSSIA 9% € 302 -11% ANGOLA 16% € 397 -20% USA 7% € 499 22% BRAZIL 15% € 388 -43% SOUTH KOREA 4% € 314 15% USA 3% € 703 5% MEXICO 4% € 324 18% MOZAMBIQUE 3% € 329 34% DEU CHINA 44% € 765 -6% GRC CHINA 39% € 383 7% RUSSIA 7% € 594 -11% USA 9% € 621 23% TAIWAN 6% € 514 10% RUSSIA 7% € 271 -45% THAILAND 5% € 1,027 23% MACEDONIA 6% € 199 -18% USA 4% € 730 29% CANADA 5% € 969 138% October Report 2018 Planet Intelligence | 9 Top 5 Visitor Nations per Destination Country – YTD Top 5 Share ATV Y/Y Sales Top 5 Share ATV Y/Y Sales FRA CHINA 35% € 1,730 12% AUT CHINA 30% € 615 28% USA 9% € 1,329 20% RUSSIA 10% € 428 -10% HONG KONG 7% € 4,127 -16% SWITZERLAND 8% € 412 -8% SOUTH KOREA 5% € 744 -10% TAIWAN 7% € 657 19% TAIWAN 5% € 2,061 21% THAILAND 4% € 686 66% GBR CHINA 26% € 401 -12% IRL CHINA 36% € 418 -9% USA 7% € 379 -10% USA 36% € 115 12% KUWAIT 6% € 352 -14% CANADA 4% € 97 14% UAE 5% € 580 -9% AUSTRALIA 3% € 147 -5% SAUDI ARABIA 5% € 369 -16% MALAYSIA 2% € 323 17% ITA CHINA 32% € 1,125 16% CZE CHINA 25% € 338 4% USA 12% € 1,082 22% RUSSIA 22% € 355 -31% RUSSIA 9% € 761 -12% TAIWAN 16% € 229 9% TAIWAN 5% € 1,249 -2% SOUTH KOREA 6% € 191 -19% SOUTH KOREA 4% € 796 40% USA 5% € 467 6% ESP CHINA
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