- \n
- New data from Global Blue reveals double-digit growth in Tax Free Shopping across Continental Europe and Asia Pacific, with Issued Sales in Store (like-for-like year-on-year performance) at +10%1<\/sup> in February 2025, compared with +29% in January.<\/b><\/li>\n<\/ul>\n
- \n
- February\u2019s performance was negatively impacted by one less retail day and by two major calendar shifts2<\/sup> compared to 2024: Lunar New Year and Ramadan.<\/b><\/li>\n<\/ul>\n
- \n
- The average progression for January and February, which neutralized the Lunar New Year shift effect, reached +20%1<\/sup>, in line with the +21%1<\/sup> progression in Q4 2024.<\/b><\/li>\n<\/ul>\n
SIGNY, Switzerland–(BUSINESS WIRE<\/a>)–A solid performance in Continental Europe despite negative calendar effects<\/b><\/p>\n
\nIn Continental Europe<\/b>, the issued Sales in Store increased by +9%1<\/sup> in February 2025 compared with +19%1<\/sup> in January, impacted by one less retail day and the shifts of Lunar New Year and Ramadan. This performance was driven by a +9%1<\/sup> increase in the number of shoppers, while the average spend per shopper remained stable at 0%1<\/sup>.\n<\/p>\n
\nAmong key origin markets<\/b>, US Tax Free Spend led the growth at +23%1<\/sup> vs. last year and European Non-EU shoppers also recorded +23%1<\/sup> growth. Meanwhile, GCC shoppers\u2019 Tax Free spend softened to +21%1 <\/sup>versus +30% in January, reflecting the ten-day shift at the beginning of Ramadan, with a positive impact expected in April 2025.\n<\/p>\n
\nMainland Chinese shoppers Tax Free Spend softened by -11%1<\/sup> versus +1%1 <\/sup>in January, driven by the Lunar New Year shift.\n<\/p>\n
\nRegarding destination markets<\/b>, February saw sustained performance across key European markets: Spain at +16%1<\/sup>, Germany at +9%1<\/sup>, Italy at +9%1<\/sup>, and France at +7%1<\/sup>.\n<\/p>\n
A strong performance in Asia Pacific despite negative calendar effects<\/b><\/p>\n
\nIn Asia Pacific<\/b>, the issued Sales in Store growth reached +10%1 <\/sup>in February 2025, marking a softening compared to January 2025 (+46%1<\/sup>), impacted by one less retail day and the shift of the Lunar New Year holidays. This performance was driven by a +17%1<\/sup> increase in the number of shoppers and a +10%1<\/sup> rise in the average spend per shopper.\n<\/p>\n
\nAmong key origin markets<\/b>, Mainland Chinese Tax Free Spend led the growth at +19%1<\/sup> versus +87% in January, impacted by the Lunar New Year shift. Hong Kong and Taiwan shoppers\u2019 Tax Free Spend displayed a similar dynamic, softening to -11%1<\/sup> versus +22% in January, while North East Asia shoppers\u2019 Tax Free Spend also softened by -34%1<\/sup> versus -2% in January.\n<\/p>\n
\nRegarding destination markets<\/b>, February saw sustained performance across key Asia Pacific markets: South Korea at +50%1<\/sup>, Japan at +14%1<\/sup>, and Singapore at -12%1<\/sup>.\n<\/p>\n
Worldwide Year-on-Year Growth Rate (2025 vs. 2024)<\/b><\/p>\n
\n
\n \n Issued SIS L\/L<\/b><\/p>\n
Year-on-Year Growth<\/b><\/p>\n<\/td>\n
\n Destination market weight in Issued SIS 2024<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
February<\/b><\/p>\n
2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
January<\/b><\/p>\n
2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
December<\/b><\/p>\n
2024<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
CY<\/b><\/p>\n
Q4 2024<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
CY<\/b><\/p>\n
Q3 2024<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
CY<\/b><\/p>\n
Q2 2024<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nFrance\n<\/p>\n<\/td>\n
\n \n16%\n<\/p>\n<\/td>\n
\n \n+7%\n<\/p>\n<\/td>\n
\n \n+15%\n<\/p>\n<\/td>\n
\n \n+19%\n<\/p>\n<\/td>\n
\n \n+13%\n<\/p>\n<\/td>\n
\n \n+2%\n<\/p>\n<\/td>\n
\n \n+10%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nItaly\n<\/p>\n<\/td>\n
\n \n16%\n<\/p>\n<\/td>\n
\n \n+9%\n<\/p>\n<\/td>\n
\n \n+22%\n<\/p>\n<\/td>\n
\n \n+24%\n<\/p>\n<\/td>\n
\n \n+19%\n<\/p>\n<\/td>\n
\n \n+16%\n<\/p>\n<\/td>\n
\n \n+22%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSpain\n<\/p>\n<\/td>\n
\n \n11%\n<\/p>\n<\/td>\n
\n \n+16%\n<\/p>\n<\/td>\n
\n \n+28%\n<\/p>\n<\/td>\n
\n \n+22%\n<\/p>\n<\/td>\n
\n \n+21%\n<\/p>\n<\/td>\n
\n \n+24%\n<\/p>\n<\/td>\n
\n \n+33%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGermany\n<\/p>\n<\/td>\n
\n \n5%\n<\/p>\n<\/td>\n
\n \n+9%\n<\/p>\n<\/td>\n
\n \n+0%\n<\/p>\n<\/td>\n
\n \n+14%\n<\/p>\n<\/td>\n
\n \n+10%\n<\/p>\n<\/td>\n
\n \n+5%\n<\/p>\n<\/td>\n
\n \n+2%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther countries\n<\/p>\n<\/td>\n
\n \n16%\n<\/p>\n<\/td>\n
\n \n+6%\n<\/p>\n<\/td>\n
\n \n+21%\n<\/p>\n<\/td>\n
\n \n+20%\n<\/p>\n<\/td>\n
\n \n+17%\n<\/p>\n<\/td>\n
\n \n+10%\n<\/p>\n<\/td>\n
\n \n+21%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Continental Europe<\/b><\/p>\n<\/td>\n
\n 64%<\/b><\/p>\n<\/td>\n
\n +9%<\/b><\/p>\n<\/td>\n
\n +19%<\/b><\/p>\n<\/td>\n
\n +20%<\/b><\/p>\n<\/td>\n
\n +16%<\/b><\/p>\n<\/td>\n
\n +11%<\/b><\/p>\n<\/td>\n
\n +19%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nJapan\n<\/p>\n<\/td>\n
\n \n26%\n<\/p>\n<\/td>\n
\n \n+14%\n<\/p>\n<\/td>\n
\n \n+56%\n<\/p>\n<\/td>\n
\n \n+32%\n<\/p>\n<\/td>\n
\n \n+33%\n<\/p>\n<\/td>\n
\n \n+57%\n<\/p>\n<\/td>\n
\n \n+172%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSingapore\n<\/p>\n<\/td>\n
\n \n6%\n<\/p>\n<\/td>\n
\n \n-12%\n<\/p>\n<\/td>\n
\n \n+8%\n<\/p>\n<\/td>\n
\n \n+6%\n<\/p>\n<\/td>\n
\n \n+10%\n<\/p>\n<\/td>\n
\n \n-3%\n<\/p>\n<\/td>\n
\n \n-1%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSouth Korea\n<\/p>\n<\/td>\n
\n \n3%\n<\/p>\n<\/td>\n
\n \n+50%\n<\/p>\n<\/td>\n
\n \n+72%\n<\/p>\n<\/td>\n
\n \n+64%\n<\/p>\n<\/td>\n
\n \n+50%\n<\/p>\n<\/td>\n
\n \n+42%\n<\/p>\n<\/td>\n
\n \n+60%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Asia Pacific<\/b><\/p>\n<\/td>\n
\n 35%<\/b><\/p>\n<\/td>\n
\n +10%<\/b><\/p>\n<\/td>\n
\n +46%<\/b><\/p>\n<\/td>\n
\n +29%<\/b><\/p>\n<\/td>\n
\n +29%<\/b><\/p>\n<\/td>\n
\n +40%<\/b><\/p>\n<\/td>\n
\n +109%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Total Latin America<\/b><\/p>\n<\/td>\n
\n 1%<\/b><\/p>\n<\/td>\n
\n +50%<\/b><\/p>\n<\/td>\n
\n +53%<\/b><\/p>\n<\/td>\n
\n +32%<\/b><\/p>\n<\/td>\n
\n +33%<\/b><\/p>\n<\/td>\n
\n +23%<\/b><\/p>\n<\/td>\n
\n -2%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Total worldwide<\/b><\/p>\n<\/td>\n
\n 100%<\/b><\/p>\n<\/td>\n
\n +10%<\/b><\/p>\n<\/td>\n
\n +29%<\/b><\/p>\n<\/td>\n
\n +23%<\/b><\/p>\n<\/td>\n
\n +21%<\/b><\/p>\n<\/td>\n
\n +19%<\/b><\/p>\n<\/td>\n
\n +41%<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n Issued SIS L\/L<\/b><\/p>\n
recovery<\/b><\/p>\n
(in % of 2019)<\/b><\/p>\n<\/td>\n
\n Destination market weight in Issued SIS 2019<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
February<\/b><\/p>\n
2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
January<\/b><\/p>\n
2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
December<\/b><\/p>\n
2024<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
CY<\/b><\/p>\n
Q4 2024<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
CY<\/b><\/p>\n
Q3 2024<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n
CY<\/b><\/p>\n
Q2 2024<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nFrance\n<\/p>\n<\/td>\n
\n \n16%\n<\/p>\n<\/td>\n
\n \n188%\n<\/p>\n<\/td>\n
\n \n190%\n<\/p>\n<\/td>\n
\n \n173%\n<\/p>\n<\/td>\n
\n \n159%\n<\/p>\n<\/td>\n
\n \n144%\n<\/p>\n<\/td>\n
\n \n164%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nItaly\n<\/p>\n<\/td>\n
\n \n17%\n<\/p>\n<\/td>\n
\n \n141%\n<\/p>\n<\/td>\n
\n \n135%\n<\/p>\n<\/td>\n
\n \n147%\n<\/p>\n<\/td>\n
\n \n146%\n<\/p>\n<\/td>\n
\n \n146%\n<\/p>\n<\/td>\n
\n \n156%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSpain\n<\/p>\n<\/td>\n
\n \n10%\n<\/p>\n<\/td>\n
\n \n159%\n<\/p>\n<\/td>\n
\n \n201%\n<\/p>\n<\/td>\n
\n \n180%\n<\/p>\n<\/td>\n
\n \n167%\n<\/p>\n<\/td>\n
\n \n161%\n<\/p>\n<\/td>\n
\n \n164%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGermany\n<\/p>\n<\/td>\n
\n \n9%\n<\/p>\n<\/td>\n
\n \n79%\n<\/p>\n<\/td>\n
\n \n68%\n<\/p>\n<\/td>\n
\n \n86%\n<\/p>\n<\/td>\n
\n \n78%\n<\/p>\n<\/td>\n
\n \n75%\n<\/p>\n<\/td>\n
\n \n80%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther countries\n<\/p>\n<\/td>\n
\n \n19%\n<\/p>\n<\/td>\n
\n \n151%\n<\/p>\n<\/td>\n
\n \n149%\n<\/p>\n<\/td>\n
\n \n140%\n<\/p>\n<\/td>\n
\n \n132%\n<\/p>\n<\/td>\n
\n \n126%\n<\/p>\n<\/td>\n
\n \n132%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Continental Europe<\/b><\/p>\n<\/td>\n
\n 71%<\/b><\/p>\n<\/td>\n
\n 148%<\/b><\/p>\n<\/td>\n
\n 150%<\/b><\/p>\n<\/td>\n
\n 147%<\/b><\/p>\n<\/td>\n
\n 139%<\/b><\/p>\n<\/td>\n
\n 133%<\/b><\/p>\n<\/td>\n
\n 143%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nJapan\n<\/p>\n<\/td>\n
\n \n14%\n<\/p>\n<\/td>\n
\n \n263%\n<\/p>\n<\/td>\n
\n \n364%\n<\/p>\n<\/td>\n
\n \n307%\n<\/p>\n<\/td>\n
\n \n299%\n<\/p>\n<\/td>\n
\n \n290%\n<\/p>\n<\/td>\n
\n \n327%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSingapore\n<\/p>\n<\/td>\n
\n \n11%\n<\/p>\n<\/td>\n
\n \n75%\n<\/p>\n<\/td>\n
\n \n99%\n<\/p>\n<\/td>\n
\n \n77%\n<\/p>\n<\/td>\n
\n \n83%\n<\/p>\n<\/td>\n
\n \n81%\n<\/p>\n<\/td>\n
\n \n92%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSouth Korea\n<\/p>\n<\/td>\n
\n \n3%\n<\/p>\n<\/td>\n
\n \n182%\n<\/p>\n<\/td>\n
\n \n230%\n<\/p>\n<\/td>\n
\n \n174%\n<\/p>\n<\/td>\n
\n \n169%\n<\/p>\n<\/td>\n
\n \n162%\n<\/p>\n<\/td>\n
\n \n158%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Asia Pacific<\/b><\/p>\n<\/td>\n
\n 28%<\/b><\/p>\n<\/td>\n
\n 178%<\/b><\/p>\n<\/td>\n
\n 239%<\/b><\/p>\n<\/td>\n
\n 196%<\/b><\/p>\n<\/td>\n
\n 195%<\/b><\/p>\n<\/td>\n
\n 186%<\/b><\/p>\n<\/td>\n
\n 226%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Total Latin America<\/b><\/p>\n<\/td>\n
\n 1%<\/b><\/p>\n<\/td>\n
\n 127%<\/b><\/p>\n<\/td>\n
\n 139%<\/b><\/p>\n<\/td>\n
\n 132%<\/b><\/p>\n<\/td>\n
\n 125%<\/b><\/p>\n<\/td>\n
\n 104%<\/b><\/p>\n<\/td>\n
\n 101%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Total worldwide<\/b><\/p>\n<\/td>\n
\n 100%<\/b><\/p>\n<\/td>\n
\n 158%<\/b><\/p>\n<\/td>\n
\n 176%<\/b><\/p>\n<\/td>\n
\n 163%<\/b><\/p>\n<\/td>\n
\n 154%<\/b><\/p>\n<\/td>\n
\n 145%<\/b><\/p>\n<\/td>\n
\n 165%<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Worldwide Recovery Rate (versus 2019)<\/b><\/p>\n
APPENDIX<\/b><\/p>\n
GLOSSARY<\/b><\/p>\n
\n– European Non-EU countries include: Shoppers who can reach destination by land transportation or less than a two hour flight. Ex: Swiss, British, Ukraine etc.
\n
– Gulf Cooperation Council countries include: Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman
\n
– North East Asia countries includes: Japan, South Korea
\n
– South East Asia countries includes: Indonesia, Thailand, Cambodia, Philippines, Vietnam, Malaysia, Singapore\n<\/p>\nABOUT GLOBAL BLUE<\/b><\/p>\n
\nGlobal Blue is the business partner for the shopping journey, providing technology and services to enhance the experience and drive performance.\n<\/p>\n
\nWith over 40 years of expertise, today we connect thousands of retailers, acquirers, and hotels with nearly 80 million consumers across 53 countries, in three industries: Tax Free Shopping, Payments and Post-Purchase solutions.\n<\/p>\n
\nWith over 2,000 employees, Global Blue generated \u20ac28bn Sales in Store and \u20ac422M revenue in FY 2023\/24. Global Blue is listed on the New York Stock Exchange.\n<\/p>\n
\nFor more information, please visit www.globalblue.com<\/a><\/p>\n
Global Blue Monthly Intelligence Briefing, February 2025, <\/i>Source: Global Blue\n<\/p>\n
1<\/sup>Growth rate variation year-on-year (2025 vs. the same period in 2024)<\/i><\/p>\n
2<\/sup>Lunar New Year took place from February 3 to February 18 in 2024 and from January 25 to February 9 in 2025. Ramadan took place from March 10 to April 9 in 2024, and will take place from February 28 to March 30 in 2025.<\/i><\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250306016983\/en\/<\/a><\/span><\/p>\n
MEDIA
\n<\/b>
Virginie Alem \u2013 Chief Marketing Officer and Chief Operating Officer Japan
\n
Mail: valem@globalblue.com<\/a><\/p>\nINVESTOR RELATIONS
\n<\/b>
Frances Gibbons \u2013 Head of Investor Relations
\n
Mob: +44 (0)7815 034 212
\n
Mail: fgibbons@globalblue.com<\/a><\/p>\nKEYWORDS:<\/b> Switzerland Europe<\/p>\n
INDUSTRY KEYWORDS:<\/b> Apps\/Applications Technology Payments Other Retail Professional Services Business Software Lodging Retail Travel<\/p>\n
- The average progression for January and February, which neutralized the Lunar New Year shift effect, reached +20%1<\/sup>, in line with the +21%1<\/sup> progression in Q4 2024.<\/b><\/li>\n<\/ul>\n
- February\u2019s performance was negatively impacted by one less retail day and by two major calendar shifts2<\/sup> compared to 2024: Lunar New Year and Ramadan.<\/b><\/li>\n<\/ul>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20250306016983\/en\/2070477\/3\/GB_LOGO_CMJN_Blue_%281%29.jpg\"){kind=logo}
<\/td>\n<\/tr>\n