中国人不爱“退税买包”了

Group 1 - The core observation is that the demographic of consumers in European luxury retail has shifted significantly, with a notable decline in Chinese tourists' presence and spending [4][6] - According to GlobalBlue, Chinese tourists' duty-free spending in Europe is projected to recover only to 62% of 2019 levels by mid-2025, with their market share dropping from 32% five years ago to 13% currently [4][6] - In contrast, spending by American tourists has increased by 12%, and Gulf state visitors have seen a 14% growth, indicating a shift in the luxury market dynamics [6][8] Group 2 - The decline in Chinese tourists is attributed to limited flight availability and complicated visa processes, making East Asian destinations more appealing due to proximity and cultural familiarity [8][9] - The luxury retail experience in China has improved significantly, with local infrastructure now offering comparable or superior service and product availability compared to Europe [8][9] - Price differentials between Europe and China have narrowed from 30% to under 10%, further incentivizing Chinese consumers to shop domestically [8][9] Group 3 - The consumer mindset has shifted from "shopping tourism" to a more rational approach to consumption, where travel is for relaxation rather than shopping [11][12] - The era of "shopping-centric travel" is ending, giving way to "experience-oriented living," which is reshaping the luxury market [12] - The focus of the duty-free market is now shifting towards high-net-worth individuals and the younger generation, with the latter showing a 24% spending growth [12]