The growing number of travellers worldwide has unlocked additional revenues for fashion players beyond their domestic core customers. Primarily driven by favourable pricing, shopping for fashion remains high on traveller’s agenda. Yet, deployment and growing sophistication of cross-border e-commerce is reshaping old-style travel flows and business operations. This report explores the role of travel and explores travel-centric strategies within the context of fashion.
reach 1.5 billion trips by the end of 2019. Western Europe, home of world’s leading fashion capitals, remain the most important region in this regard, accounting for 37% of total arrivals. Global inbound arrivals are expected to grow by 4% to
As a result, expenditure on destination activities, and on shopping by international tourists in particular, is set to increase by 6% by the end of 2019, reaching USD276 billion.
Currency volatility remains a major factor either encouraging or deterring consumers travelling to certain destinations and consequently, reshaping too expenditure on fashion items while abroad.
Newly created wealth in Asia Pacific, particularly in China, has been the major driver behind the booming performance of travel retail operators and the steady transformation of high end retailers in Western Europe and North America.
Predominantly across major fashion destinations, high-end department stores, luxury fashion specialists, and ever more off-price retailers, are driving a sizeable share of their revenues targeting primarily wealthy tourists.
The main motivation to purchase fashion abroad remains favourable pricing. However, the well-established phenomenon of “daigou” and an increasingly sophisticated cross-border e-commerce landscape, is already rewriting current shopping travel trends and has the potential to disrupt these moving forward.
The combination of price harmonisation and the expansion of digital retail players operating across the world, is laying the ground for a truly global border free shopping landscape with pricing alone likely to take the back seat.
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