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Trade association welcomes Home Office ‘back-to-basics’ retail crime promise

13 Sep 2023

The recent pledge by police forces across England and Wales to pursue every lead that holds a reasonable chance of apprehending criminals and solving crimes has been welcomed by Bira, which... Read more…

Hidden basement bar in Liverpool named 'best vegan restaurant' in Britain

12 Sep 2023

A family-run Liverpool restaurant hidden inside a basement is officially Britain's best vegan venue.
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Shoplifters working in organised groups targeting shops with co-ordinated raids

11 Sep 2023

A warning has been issued that shoplifters in the UK are becoming increasingly “emboldened” and appear to be often orchestrated by organised criminal groups, which steal to order,... Read more…

Shops urged to prepare for single-use plastics ban coming into force on 1 October

11 Sep 2023

It has been suggested that some shop owners may be unaware or unprepared for the upcoming change to regulations on single-use plastics on plates, bowls, trays, containers, cutlery and balloon... Read more…

National Lottery retailers urged to transfer retail agreement to new operator.

30 Aug 2023

Allwyn, incoming operator of The National Lottery, has urged independent National Lottery retailers to log on to its new online retailer portal via Read more…

Retailers sceptical about Home Secretary’s call for ‘every theft’ to be investigated.

30 Aug 2023

Shop owners have expressed scepticism that the Home Secretary's recent call for every theft to be investigated by the police will come to fruition, suggesting that police resources are already... Read more…

Consumer confidence shows ‘renewed optimism’ against falling core inflation

29 Aug 2023

Consumer confidence is showing “renewed optimism” against a backdrop of falling core inflation, new figures suggest.
 
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Coventry shop owners launch street market to bring more people into the area

29 Aug 2023

Shop owners in a part of Coventry have rallied together to launch a street market, with hopes of boosting the number of people that visit the area.
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Indies drinks retailers short-changed in government duty consultation

16 Aug 2023

Independent quality drinks retailers were woefully underrepresented among those consulted by government over the duty changes now hitting businesses, it has been claimed, after industry magazine... Read more…

Online bookshop hits £3 million for independent sellers

16 Aug 2023

Online bookshop Bookshop.org has reached its target of raising £3 million in profit for independent booksellers in its fight for them to “thrive in the world of ecommerce”.
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Government urged to reinstate Tax Free shopping with UK Retailers missing out as sales surge across Europe

Posted on in Business News, Cycles News, Creative News, Outdoor News

high streetThe European retail sector has enjoyed its best month for international spending on Tax Free goods since the end of the pandemic after sales surged by 40% month on month in March 2023, taking them to just 21% below March 2019 – their highest level in nearly three years.

That’s according to the findings from Planet, a global technology leader providing integrated software, payment, and technology solutions.

Planet’s latest data shows the extent to which Europe’s retailers are benefiting from a surge in sales as the ever-growing numbers of Asian tourists combine with continued high levels of spending by US consumers, fuelling strong growth.

This further highlights the need for the UK Government to quickly reintroduce Tax Free shopping so UK retailers can benefit from this growth opportunity.

UK consumers continue to spend big on Tax Free across Europe

The UK’s shoppers are continuing to flex their spending muscle in Europe, retaining their place among the top five source nationalities for Europe’s retailers when it comes to Tax Free shopping despite the growth from Asia. As European retailers gear-up for the busy summer travel season, the presence of UK shoppers will continue to provide good cheer.

Planet’s latest Intelligence report shows that in March 2023, UK consumers spent most on Tax Free products in France which captured 56.9% of all spending across Europe with an average transaction value (ATV) of €1,870. Paris remains the preferred city destination taking 46.1% of all UK consumer spending.

The UK’s younger customers are continuing to drive this spending with Gen Z accounting for 27% of sales in March 2023, almost three times more than other non-EU Gen Z shoppers. The UK’s affluent Gen Zs prefer to spend in luxury, department stores, and watches & jewellery where they over-index compared to other non-EU shoppers of this age group.

Luca Cassina, President of Retail at Planet commented:

“Our data highlights the extent to which UK retailers are missing out on international spending particularly from Asian, Middle Eastern and US tourists with the UK being the only major European market not to currently offer Tax Free shopping.

“We know that Chinese tourists are already returning to Europe and they’re now only second to the US in terms of their spending on Tax Free. All the forecasts point to them emerging as a major force in international spending across Europe this summer as international airline capacity from mainland China continues to increase.

“We know from our research that almost 7 out of 10 Chinese consumers would be more likely to visit the UK if a Tax-Free shopping scheme were to be available.

“We continue to encourage the UK Government to act quickly to reinstate a Tax-Free shopping scheme for overseas visitors. This would provide a major and very welcome boost to the UK’s retail sector ahead of the peak summer travel season.”

“By working in partnership with the industry, the UK Government can quickly introduce a digital Tax-Free shopping scheme that would offer overseas consumers visiting Europe more choice and which puts retailers across the UK on a level playing field.”

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