Singapore ranked top for luxury retail among Chinese travellers - TTG Asia - Leader in Hotel, Airlines, Tourism and Travel Trade News
 
Sunday . August 31 . 2014
         
Follow TTG Asia on Twitter
TTG ASIA this week
TTG Asia Luxury
 
Share |
Singapore ranked top for luxury retail among Chinese travellers
Singapore, April 18, 2012
 

SINGAPORE is now the top global destination for Chinese tourists to shop for luxury watches and jewellery, beating even Switzerland, known as a traditional stronghold for upscale timepieces. 

 

The Chinese spent close to S$265 million (US$212 million) on these luxury items in Singapore between April 2011 and February 2012, with each traveller spending an average of S$8,757, as compared to S$7,221 in Italy and S$3,127 in Germany. These figures were revealed by Global Blue, a financial services company that provides tax refunds to tourists.

 

The Chinese have also surpassed Russians and Japanese to become the top spenders, chalking up more than S$3 billion in tax-free shopping transactions globally.

 

“Singapore’s strong position towards Chinese global shoppers is mainly due to its great choice and variety of luxury brands – particularly in jewellery and watches – as well as its geographical proximity. Chinese shoppers also have better chances to get discounts here than in Europe for example,” said Manelik Sfez, vice president, partner & corporate marketing, Global Blue.

 

Chinese travellers are increasingly sophisticated, focusing on price, style and design and product quality when making luxury purchases, said Sfez. “(They) have a high spending power and relatively high savings, which have resulted in continued growth of their average spend overseas over the last years,” he added.

 

To get an even bigger piece of the Chinese pie, Singapore retailers should focus on pre-journey marketing campaigns to reach their targeted shoppers and create preference even before they begin their trips, Sfez advised. 

 

Print Top Stories
 
RATE THIS ARTICLE
Poor 1 2 3 4 5 Good
 
COMMENTS
No comment for this article.
 
  POST YOUR COMMENT  
       
  Name:  
Email Address:
Location:
  Comment:  
  Enter the code shown:  
     
     
       
 
Editor's pick >
   
The next-gen travel leaders - part 2

by Paige Lee Pei Qi, Feizal Samath, Caroline Boey, David Andrews

Blast from the past - part 2

by Raini Hamdi, Prudence Lui, Rosa Ocampo, Greg Lowe and S Puvaneswary

Sailing into new horizons

by Paige Lee Pei Qi, Mimi Hudoyo, S Puvaneswary, Gracia Chiang, Caroline Boey and Kathy Neo

Stimulate your local visitor economy with Google Maps

by Bronwyn White

Cost-light and local boutique hotels

by Loh Lik Peng