Retail Refugees

Changing Market for Milan Retail

The tides are changing on the streets in and around Milan´s Golden Triangle of shopping.  What were once filled with Japanese and Americans attracted by the weak lira (and infant euro) has evolved into predominantly Eastern European shopping zones.  Global Refund, the company that tracks duty free shopping statistics, gave a snapshot of who bought how much: Russians are Milan’s largest national group of fashion shoppers, commanding 38 percent of the tax-free pie in 2008, despite their own economic woes back home. By contrast, the United States claimed a mere 4 percent.

Ukrainians make up 6 percent of Milan tax-free fashion sales and bear the distinction of being the biggest spenders per purchase: Their average receipt is €1,556 compared with €968 for Russian buyers, €925 for U.S. buyers and €789 for China buyers. But when the statistics are pared down to just jewelry, the Ukrainian average receipt is an impressive €12,000.

Russians, Arabs, Ukrainians and Chinese all posted healthy increases in fashion purchases in 2008 versus 2007. And, not surprisingly, the two countries that took nose dives were the United States and Japan – dropping by 38 percent and 24 percent, respectively.

Over all, Milan’s tax-free shopping increased 2 percent in 2008, despite the effects of the global economic crisis that deepened in the fourth quarter of the year.


1 Comment so far
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Maybe it can be useful to know that the Milan´s Golden Triangle of shopping has a dedicated site:

Comment by viamontenapoleone

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