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The most visible impact of COVID-19 on Chinese travel retail consumption is the shift from outbound travel to domestic tourism. Even as foreign countries are opening up to tourism, Chinese tourists are not necessarily returning, and the domestic tourism market continues to thrive. Government policy has also adapted to drive domestic duty-free consumption, most notably in Hainan.
Ernst & Young Advisory Services Limited (EY) and iClick jointly published this whitepaper on China travel shopper trends to unveil the challenges and opportunities for the travel retail sector under the context of COVID-19. Through the analysis and statistics of China's tourism market, the consumption behavior and consumption concept of Chinese consumers are analyzed, and the opportunities and challenges of the development of China's tourism and retail industry in the post-epidemic era are discussed from multiple perspectives.
The whitepaper on China travel shoppers 2022 contains five main sections:
In 2021, China's total retail sales of consumer goods reached RMB44 trillion, an increase of 12.5% year-on-year1. China has become the world's second largest consumer market. The construction of the Hainan Free Trade Port is a major national strategy aimed at making Hainan an international travel consumption destination. According to the department of Commerce of Hainan Province, 2021 sales from the 10 duty-free stores in Hainan were RMB60 billion, an increase of 84% y-o-y, and the number of duty-free shoppers was RMB9.68 million, up 73% y-o-y2. The Hainan market, with the continuous optimization of the duty free policy, will further attract operators in the travel retail sector. EY teams continue to provide extensive local service experience and connected global service network, to provide innovative customized solutions to help the development of Hainan Free Trade Port, and work together to build a better working world.
Summary
For brands and retailers to maximise the opportunities that such a diverse range of channels represents, they need an intimate knowledge of Chinese consumers. Both for the rigour of its methodology and the quality of its insights, this whitepaper will be a report of rare intelligence and insight into the evolving habits, needs and desires of travel retail’s most important consumer audience of the 21st century.
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