Global Blue Releases the Monthly Tax Free Shopping Business Update for November 2023 - Seite 2

When examining destination markets, Japan continues to progress in Asia Pacific, reaching 220%¹ in November, followed by South Korea at 114%¹.

Worldwide recovery of Mainland Chinese shoppers

In November, the worldwide Sales in Store like-for-like recovery of Mainland China shoppers reached 82%¹ in November vs. 74%¹ in October and 54%¹ in Q2’23.

In Asia Pacific, the pace of the recovery has slightly slowed down, reaching 102%¹ in November vs. 109%¹ in October and 105%¹ in Q3 ’23. This was driven by a continued low return of Chinese shoppers (42%), mainly due to limited air capacity recovery to Japan (42%²), which was, however, compensated by a significant increase in the average spend per shopper (143%¹) vs. 2019.

In Continental Europe, while the recovery remains constrained due to the lead time required for visa issuance and the absence of group travel, the Sales in Store like-for-like recovery of Mainland China shoppers has accelerated, reaching 65%¹ in November vs. 52%¹ in October vs. 45%¹ in Q3 ’23.

This performance was driven by an acceleration in both the return of Chinese shoppers (44%), and in air capacity recovery (71%²) and an increase in average spend per shopper 48%³.

APPENDIX

YTD Data

Issued SIS L/L recovery1 (in % of 2019)	November 2023	October 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Continental Europe	118%	115%	119%	121%	109%	104%	101%
Asia Pacific	152%	147%	134%	111%	87%	80%	51%
TOTAL	127%	123%	123%	118%	101%	97%