SANYA, China, Jan 26 (Reuters) – China’s scrapping of travel curbs this month is expected to revive demand in the global luxury retail market, but many consumers see more reasons to do their high-end shopping locally on the tax-free island of Hainan.
On Wednesday, thousands of travellers in Hainan’s Sanya city packed the CDF Mall, a shopping centre dedicated to duty free stores, where they stocked up on cosmetics and handbags while on break for the Lunar New Year Holiday.
“The UK is quite far and it’s hard to buy tickets,” said Yu Shunxiao, a student who said he used to shop at Harrods in London. “In Sanya, we can come and leave whenever we want.”
In early January, following a broader nationwide relaxation of COVID-19 prevention policies, Beijing ended a long-standing requirement that all inbound travellers go into quarantine at a hotel immediately upon arrival.
As a result, Chinese residents have rushed to travel overseas. On Trip.com, a popular ticket-booking site, international flight ticket purchases shot up over 200% the day after the policy change was announced.
Luxury brands and retailers are hoping that an upcoming outbound tourism boom from China will bring in strong sales in 2023, just as a post-pandemic frenzy in the United States and Europe cools down. read more
Despite this, some experts argue that an increasing portion of China’s luxury spending will remain inside the country’s borders, even though consumers can now travel freely.
Jonathan Yan, at consultancy Roland Berger in Shanghai, told Reuters that the three-year period of closed borders has caused Chinese shoppers to get more accustomed to buying foreign luxury goods in China.
“A portion (of luxury shoppers) will go back to the original pre-COVID overseas consumption,” Yan said. “But, I think the local (luxury market) will be also important for most of the brands.”
Reporting by Alessandro Diviggiano in Sanya, writing by Josh Horwitz in Shanghai; Editing by Raju Gopalakrishnan
Our Standards: The Thomson Reuters Trust Principles.
China’s luxury shoppers free to travel, but many buy locally
1 COMMENT
LEAVE A REPLY
- Advertisment - 
Recent Comments
on CONCEPT ART: New Details Revealed for Disney Cruise Line Lookout Cay at Lighthouse Point Destination
on “Completely Knocked Me Out”: Rob Lowe Recalls Boxing Match With Tom Cruise On 1983 Brat Pack Classic
on CBS Sports announces Matt Ryan will join NFL studio show. Longtime analysts Simms and Esiason depart
on Carlos Sainz’s Soccer Fanboy Emerges as Spaniard Shares Defining Moment With This Real Madrid Legend
on Biden: ‘At this point I’m not’ planning to visit East Palestine, Ohio, after toxic train derailment
on ‘Best Intention’: Chris Kirk Has Absolute Trust in Jay Monahan and PGA Tour’s Widely Debated Model
on Ahead of big sports weekend, dispute with Disney leaves millions of cable subscribers in the dark
on A heavy wave of Russian missile attacks pounds areas across Ukraine, killing at least 4 civilians
on 2024 Super Bowl: CBS Sports Network and CBS Sports HQ to combine for 115 hours of weeklong coverage
on 2023 NFL All-Rookie Team: CBS Sports draft expert, former GM unveil league’s best first-year players
on Army vs. Coastal Carolina live stream, how to watch online, CBS Sports Network channel finder, odds
on AL Rookie of the Year Julio Rodriguez Spreads Joy and Sportsmanship to the Youth of Loma de Cabrera
on After UFC Fallout, Conor McGregor Offers a Valuable Piece of Advice to Free Agent Francis Ngannou
on Dubai International Airport sees 41.6 million passengers in first half of year, more than in 2019
on Devout athletes find strength in their faith. But practicing it and elite sports can pose hurdles
on Despite strong Lunar New Year holiday data, consumer spending in China isn’t roaring back just yet
on Dave Portnoy: Taylor Swift’s security should ‘drag Kim Kardashian to jail’ if she attends Eras Tour
on CONCEPT ART: New Details Revealed for Disney Cruise Line Lookout Cay at Lighthouse Point Destination
on “Completely Knocked Me Out”: Rob Lowe Recalls Boxing Match With Tom Cruise On 1983 Brat Pack Classic
on CBS Sports, Serie A announce new TV rights deal; Paramount+ to air over 400 Italian soccer matches
on Cam Newton’s Violent Public Incident Draws Hilarious Reaction From 3x All-Star: “Where Do I Sign Up
on Boston College vs. Army live stream, how to watch online, CBS Sports Network channel finder, odds
on Angel Reese Launches Foundation Dedicated To Empowering Women Through Sports & Financial Literacy
on A weaker dollar, skyrocketing prices and ‘record’ visitor numbers: Good luck in Europe this summer
Thank you for addressing such an important topic in this post Your words are powerful and have the potential to make a real difference in the world