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The$power$of$globe$shopping$
UNDERSTANDING!
THE UHNW CONSUMER!LONDON, May 14!
globe$shop0per$/ˈglōbˌSHäpər/$
noun$
1.$ $a$person$who$considers$shopping$as$a$$$fundamental$part$of$their$travel$experience.$$“globe$shoppers$are$the$sixth$con3nent$for$$$the$retail$industry”$
$2.$ $a$fastBgrowing$retail$market$segment,$$
$which$global$worth$was$esEmated$at$more$$than$EUR'48'billion$in$2013.$$“building$growth$from$globe$shoppers$–$the$$world’s$most$valuable$customers.”$
48%$56%$
82%$
Russians$ MidBEasterns$ Chinese$
“Shopping'is'my'priority'when'I'travel”'
40%$
60%$
Share'of'sales'for'luxury'brands'
DomesEc$shoppers$ Globe$shoppers$
Source:$G
lobal$Blue$
Source:$G
lobal$Blue$
globe$shop0per$/ˈglōbˌSHäpər/$
noun$
1.$ $a$person$who$considers$shopping$as$a$$$fundamental$part$of$their$travel$experience.$$“globe$shoppers$are$the$sixth$con3nent$for$$$the$retail$industry”$
$2.$ $a$fastBgrowing$retail$market$segment,$$
$which$global$worth$was$esEmated$at$more$$than$EUR'48'billion$in$2013.$$“building$growth$from$globe$shoppers$–$the$$world’s$most$valuable$customers.”$
48%$56%$
82%$
Russians$ MidBEasterns$ Chinese$
“Shopping'is'my'priority'when'I'travel”'
40%$
60%$
Share'of'sales'for'luxury'brands'
DomesEc$shoppers$ Globe$shoppers$
Source:$G
lobal$Blue$
Source:$G
lobal$Blue$
globe$shop0per$/ˈglōbˌSHäpər/$
noun$
1.$ $a$person$who$considers$shopping$as$a$$$fundamental$part$of$their$travel$experience.$$“globe$shoppers$are$the$sixth$con3nent$for$$$the$retail$industry”$
$2.$ $a$fastBgrowing$retail$market$segment,$$
$which$global$worth$was$esEmated$at$more$$than$EUR'48'billion$in$2013.$$“building$growth$from$globe$shoppers$–$the$$world’s$most$valuable$customers.”$
48%$56%$
82%$
Russians$ MidBEasterns$ Chinese$
“Shopping'is'my'priority'when'I'travel”'
40%$
60%$
Share'of'sales'for'luxury'brands'
DomesEc$shoppers$ Globe$shoppers$
Source:$G
lobal$Blue$
Source:$G
lobal$Blue$
globe$shop0per$/ˈglōbˌSHäpər/$
noun$
1.$ $a$person$who$considers$shopping$as$a$$$fundamental$part$of$their$travel$experience.$$“globe$shoppers$are$the$sixth$con3nent$for$$$the$retail$industry”$
$2.$ $a$fastBgrowing$retail$market$segment,$$
$which$global$worth$was$esEmated$at$more$$than$EUR'48'billion$in$2013.$$“building$growth$from$globe$shoppers$–$the$$world’s$most$valuable$customers.”$
48%$56%$
82%$
Russians$ MidBEasterns$ Chinese$
“Shopping'is'my'priority'when'I'travel”'
40%$
60%$
Share'of'sales'for'luxury'brands'
DomesEc$shoppers$ Globe$shoppers$
Source:$G
lobal$Blue$
Source:$G
lobal$Blue$
JeanBPaul$Agon$
“Travel$Retail$is$a$key$channel$for$winning$$over$one$billion$new$consumers;$it$is$present$$
around$the$world$as$a$sixth$con3nent.”$
Where$do$they$come$from?$
27%$
17%$
4%$3%$3%$
46%$
JANFDEC'2013:'top'5'globe'shopper'naMons'by'share'of'total'spent''
China$ Russia$ Indonesia$ USA$ Japan$ Others$
Source:$Global$Blue$AnalyEcs$
22%$
20%$
5%$4%$3%$
47%$
JANFAPR'2013:'top'5'globe'shopper'naMons'by'share'of'total'spent'
China$
Russia$
Indonesia$
Japan$
Thailand$
Others$
27%$
17%$
3%$3%$3%$
47%$
JANFAPR'2014:'top'5'globe'shopper'naMons'by'share'of'total'spent'
China$
Russia$
Indonesia$
USA$
Japan$
Others$
Source:$Global$Blue$AnalyEcs$
Angela$Ahrendts$
“Investors$should$switch$their$focus$from$China$to$the$TLC$(Travelling$Luxury$Consumers),$a$more$powerful$
force$than$the$Chinese$market$alone.”$$
Where$do$they$shop?$
18%$
16%$
15%$12%$
11%$
27%$
JANFDEC'2013:'top'5'desMnaMon'countries'by'share'of'total'spent''
France$
Italy$
UK$
Germany$
Singapore$
Others$
18%$
16%$
16%$12%$
12%$
27%$
JANFAPR'2014:'top'5'desMnaMon'countries'by'share'of'total'spent''
France$
UK$
Italy$
Singapore$
Germany$
Others$
Source:$Global$Blue$AnalyEcs$
How$much$do$they$spend?$
$€$'815$$
$€$'356$$
$€$'608$$$€$'647$$
$€$'509$$ $€$'501$$
China$ Russia$ Indonesia$ USA$ Japan$ Market$
JANFDEC'2013:'average'spend'of'top'5'globe'shopper'naMons'
$€$'846$$
$€$'358$$
$€$'648$$
$€$'514$$
$€$'870$$
$€$'502$$
China$ Russia$ Indonesia$ Japan$ Thailand$ Market$
JANFAPR'2014:'average'spend'of'top'5'globe'shopper'naMons'
Source:$Global$Blue$AnalyEcs$
€$10,800$The$shopping$budget$of$a$Chinese$globe$shopper$$
per$European$trip.$
Source:$Global$Blue$Dossier$“The$growing$complexity$of$the$Chinese$globe$shopper”$
Welcome$to$the$new$normal$
JanB12$ FebB12$ MarB12$ AprB12$ MayB12$ JunB12$ JulB12$ AugB12$ SepB12$ OctB12$ NovB12$ DecB12$ JanB13$ FebB13$ MarB13$ AprB13$ MayB13$ JunB13$ JulB13$ AugB13$ SepB13$ OctB13$ NovB13$ DecB13$ JanB14$ FebB14$ MarB14$ AprB14$
'''2012F2014:'yearFonFyear'growth'rate'of'Chinese'total'spend''
100%$
90%$
80%$
70%$
60%$
50%$
40%$
30%$
20%$
10%$
0%$
B20%$
B30%$
B10%$
Source:$Global$Blue$AnalyEcs$
JanB12$ FebB12$ MarB12$ AprB12$ MayB12$ JunB12$ JulB12$ AugB12$ SepB12$ OctB12$ NovB12$ DecB12$ JanB13$ FebB13$ MarB13$ AprB13$ MayB13$ JunB13$ JulB13$ AugB13$ SepB13$ OctB13$ NovB13$ DecB13$ JanB14$ FebB14$ MarB14$ AprB14$
''' 2012F2014:'yearFonFyear'growth'rate'of'Chinese'total'spend''
100%$
90%$
80%$
70%$
60%$
50%$
40%$
30%$
20%$
10%$
0%$
B20%$
B30%$
B10%$
Source:$Global$Blue$AnalyEcs$
JanB12$ FebB12$ MarB12$ AprB12$ MayB12$ JunB12$ JulB12$ AugB12$ SepB12$ OctB12$ NovB12$ DecB12$ JanB13$ FebB13$ MarB13$ AprB13$ MayB13$ JunB13$ JulB13$ AugB13$ SepB13$ OctB13$ NovB13$ DecB13$ JanB14$ FebB14$ MarB14$ AprB14$
''' 2012F2014:'yearFonFyear'growth'rate'of'Chinese'total'spend''
100%$
90%$
80%$
70%$
60%$
50%$
40%$
30%$
20%$
10%$
0%$
New'tourism'law'
B20%$
B30%$
B10%$
Source:$Global$Blue$AnalyEcs$
JanB12$ FebB12$ MarB12$ AprB12$ MayB12$ JunB12$ JulB12$ AugB12$ SepB12$ OctB12$ NovB12$ DecB12$ JanB13$ FebB13$ MarB13$ AprB13$ MayB13$ JunB13$ JulB13$ AugB13$ SepB13$ OctB13$ NovB13$ DecB13$ JanB14$ FebB14$ MarB14$ AprB14$
'''2012F2014:'yearFonFyear'growth'rate'of'Russian'total'spend''
100%$
90%$
80%$
70%$
60%$
50%$
40%$
30%$
20%$
10%$
0%$
B20%$
B30%$
B10%$
Source:$Global$Blue$AnalyEcs$
JanB12$ FebB12$ MarB12$ AprB12$ MayB12$ JunB12$ JulB12$ AugB12$ SepB12$ OctB12$ NovB12$ DecB12$ JanB13$ FebB13$ MarB13$ AprB13$ MayB13$ JunB13$ JulB13$ AugB13$ SepB13$ OctB13$ NovB13$ DecB13$ JanB14$ FebB14$ MarB14$ AprB14$
''' 2012F2014:'yearFonFyear'growth'rate'of'Russian'total'spend''
100%$
90%$
80%$
70%$
60%$
50%$
40%$
30%$
20%$
10%$
0%$
B20%$
B30%$
B10%$
Source:$Global$Blue$AnalyEcs$
JanB12$ FebB12$ MarB12$ AprB12$ MayB12$ JunB12$ JulB12$ AugB12$ SepB12$ OctB12$ NovB12$ DecB12$ JanB13$ FebB13$ MarB13$ AprB13$ MayB13$ JunB13$ JulB13$ AugB13$ SepB13$ OctB13$ NovB13$ DecB13$ JanB14$ FebB14$ MarB14$ AprB14$
''' 2012F2014:'yearFonFyear'growth'rate'of'Russian'total'spend''
100%$
90%$
80%$
70%$
60%$
50%$
40%$
30%$
20%$
10%$
0%$
B20%$
B30%$
B10%$
Crimean'crisis'
Source:$Global$Blue$AnalyEcs$
The$Chinese$spending$slowdown$
$B$$$$
$25$$
$50$$
$75$$
$100$$
$125$$
$150$$
$175$$
$200$$
$225$$
Million'travellers'
Chinese'outbound'travel'growth'2002F2020'
Source:$Global$Blue$based$on$CNTA,$Xinhua,$UNWTO$
The$Chinese$spending$slowdown$
Not$related$to$outbound$travel$
New$tourism$law$
AnEBcorrupEon$storm$
Full$stop$of$official$travel$
DesEnaEon$shik$to$USA$/$Australia$
Change$in$travel$purpose$
Rise$of$FIT$/$decline$of$groups$
Impacted$W&J,$boosted$F&C$
$
JanB12$ FebB12$ MarB12$ AprB12$ MayB12$ JunB12$ JulB12$ AugB12$ SepB12$ OctB12$ NovB12$ DecB12$ JanB13$ FebB13$ MarB13$ AprB13$ MayB13$ JunB13$ JulB13$ AugB13$ SepB13$ OctB13$ NovB13$ DecB13$ JanB14$ FebB14$ MarB14$ AprB14$
'''2012F2014:'yearFonFyear'growth'rate'of'Chinese'spend'on'Watches'&'Jewellery'
140%$
120%$
100%$
80%$
60%$
40%$
20%$
0%$
B20%$
B40%$
Source:$Global$Blue$AnalyEcs$
JanB12$ FebB12$ MarB12$ AprB12$ MayB12$ JunB12$ JulB12$ AugB12$ SepB12$ OctB12$ NovB12$ DecB12$ JanB13$ FebB13$ MarB13$ AprB13$ MayB13$ JunB13$ JulB13$ AugB13$ SepB13$ OctB13$ NovB13$ DecB13$ JanB14$ FebB14$ MarB14$ AprB14$
''' 2012F2014:'yearFonFyear'growth'rate'of'Chinese'spend'on'Watches'&'Jewellery'
140%$
120%$
100%$
80%$
60%$
40%$
20%$
0%$
B20%$
B40%$
Source:$Global$Blue$AnalyEcs$
18th'NaMonal'Congress'
JanB12$ FebB12$ MarB12$ AprB12$ MayB12$ JunB12$ JulB12$ AugB12$ SepB12$ OctB12$ NovB12$ DecB12$ JanB13$ FebB13$ MarB13$ AprB13$ MayB13$ JunB13$ JulB13$ AugB13$ SepB13$ OctB13$ NovB13$ DecB13$ JanB14$ FebB14$ MarB14$ AprB14$
''' 2012F2014:'yearFonFyear'growth'rate'of'Chinese'spend'on'Watches'&'Jewellery'
140%$
120%$
100%$
80%$
60%$
40%$
20%$
0%$
B20%$
B40%$
Source:$Global$Blue$AnalyEcs$
The$Russian$spending$slowdown$
The$Russian$spending$slowdown$
Rouble$has$been$falling$for$a$year$
Russian$spending$down$8.5%$in$2014$
Economy$was$down$before$the$Crimean$crisis$
Crimean$crisis$impacts$spending,$not$travelling$
Outbound$travel$sEll$steadily$increasing$5%$
Frankfurt$and$Milan$mostly$hurt$in$March$
What$can$we$expect$for$the$future?$
In$2014$we$expect$stronger$tourist$arrivals$$in$APAC$(and$USA)$than$in$Europe$
NaMon' 2014' 2015' 2016'
China' 13%$ 13%$ 13%$
Russia' 9%$ 13%$ 15%$
Japan' 2%$ 3%$ 3%$
Indonesia' 8%$ 8%$ 9%$
USA' 2%$ 2%$ 2%$
General$outbound$travel$ EuropeBbound$travel$
NaMon' 2014' 2015' 2016'
China' 6%$ 9%$ 7%$
Russia' 5%$ 7%$ 6%$
Japan' 0%$ 0%$ 0%$
Indonesia' B$NA$B$ B$NA$B$ B$NA$B$
USA' 2%$ 2%$ 2%$
Source:$Global$Blue$based$on$CNTA,$Xinhua,$Euromonitor,$TTG$Asia,$Jakarta$News,$Tourism$Economics,$UNWTO,$PATA,$TourMIS.$
Travel$growth$from$core$markets$sEll$posiEve,$with$a$stress$on$APAC$
Major$globe$shopper$currencies$
to$strengthen$against$EUR$and$
SGD$
A$bener$economic$outlook,$yet$with$downside$risks$
Rise$of$middleBclass$in$China,$but$with$travel$ban$for$
officials$and$new$tourism$law$
Globe$shoppers$are$a$demographic,$not$$a$geography.$Is$your$company$structured$to$$
harness$their$power?$
Thank$you.$
