Chinese Tourists Move From Japan To Britain And Britain'S Luxury Market To Welcome Spring

Britain may be making a windfall temporarily after deciding to leave the EU, according to a recent report. With the collapse of the pound, many tourists are hoping to take advantage of this opportunity to buy cheap Burberry. Windbreaker Harrods's tyre cheese and Liberty's scarves.

Data show that a large number of Chinese tourists are moving from Japan to buy and buy in Britain. After the announcement of the referendum in Britain, the pound fell sharply, resulting in the country's collapse. product And services are cheaper for foreign buyers. Chinese tourists are moving very fast, and the search volume of British holidays has skyrocketed on the client side. A news website even urged tourists to rush to buy and buy in London.

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In exchange rate movements, travel to the UK and Europe can save Chinese consumers 40% of the cost. This summer vacation, the way of Chinese consumer travel is expected to be "intuitive".

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Britain is the world's sixth largest luxury consumer market, with a market value of 15 billion 500 million euros (about 113 billion 900 million yuan), and the United Kingdom will dispose some of its customers from Japanese retailers.

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Ocean terminal data show that after "off Europe" referendum, Europe commodity Sales doubled, and British goods accounted for 6 of sales. Data from Jingdong global shopping also showed that sales of British toiletries increased to 6 times in varying degrees.

UK 10%

Discount of nearly 10%

Sixth luxury goods market greet spring

The collapse of the pound is a panacea for the demand of luxury goods companies in the UK, because Chinese tourists are the largest consumers of high-end brands in the country, and their purchases generally take place overseas. According to data from VisitBritain website, the number of visitors to Britain last year reached 270 thousand, an increase of 46%. The British Airways owner international aviation group said in June 28th that the weaker pound will push up the number of overseas tourists to the United Kingdom.

"I will not be surprised that consumers in China and the Middle East will swarm, and their purchasing power has increased," said Edward Miranda, chief executive officer of Swiss watch manufacturer H Moser&Cie. "People are ready to travel for a discount of 5% to 10% or even 20%." More overseas tourists travel to the UK to make the British luxury companies such as Burberry and Mulberry to catch up. Because of the slowing demand for luxury goods and the successive terrorist attacks in Europe, they have been in deep water for some time. Britain is the sixth largest luxury consumer market in the world with a market value of 15 billion 500 million euros (about 113 billion 900 million yuan). Britain will dispose of some passengers from Japanese retailers.

Xie Zihao, 24, from Shandong, China, recently went shopping with his family in Selfridges department store in London. Taking advantage of the decline of the pound, he bought his mother a windbreaker for Burberry and bought a Coach handbag for his sister.

"Any short term decline in the pound will directly affect the number of London tourists," said Michael Ward, director of operations at Harrods. But Chinese Internet travel companies believe: "these benefits need time to reflect. After all, Chinese consumers need time to get visas and hotels."

Japan 40%

Travel to Britain and Europe

Chinese consumers can save 40% of the cost.

"You will only buy luxury goods in one case: when you feel good," HSBC analyst wrote in a report that "off European referendum" is likely to add another layer of doubt to consumers who have accumulated a lot of doubts. However, John Guy, an analyst at MainFirstBankAG, said that the decline in the pound's 10% would increase the pre tax profit of up to 90 million pounds for Burberry. Thomas Chanvit, an analyst at Citigroup, estimates that Burberry's UK business accounts for 10% of its total revenue, and 60% of it comes from overseas tourists.

The growth of London tourists may be a blow to Tokyo's fashionable Ginza shopping. Bloomberg intelligence analyst Michel Ma said: under the exchange rate fluctuations, travel to the UK and Europe can save Chinese consumers 40% of the cost. She expects to see "intuitive" changes in the way Chinese consumers travel in this summer vacation.

It is unclear whether the appreciation of the yen will end, which will stop people from going to Japan, and our losses will flow elsewhere, "said Yamazaki Yoko, general manager of LaoxCo planning department, a Japanese duty free operator. As the yen goes up, a strong exchange rate is like "a heavy blow to the body in boxing". Yamazaki said that Chinese consumers will buy fewer expensive single products, such as red coral with a price of up to 10 million yen.

Now, more and more Chinese will join Xie Zi Hao's Choice -- shopping with his family in Oxford street, London. "I can buy them luxuries now, so that they can receive some nice gifts." Xie Zihao said.