Japan’s Department Store Shares Lag as Tourist Splurge Slows The once-thriving landscape of Japan’s department stores is facing a significant downturn as the usual influx of tourist spending dwindles. The country, known for its bustling retail hubs and luxury shopping experiences, is now grappling with a sharp decline in tax-free sales at department stores nationwide. […]
Chinese Tourists Ramp Up European Summer Trips as Americans Cut Back
Chinese Tourists Boost European Summer Tourism While Americans Scale Back As the world slowly emerges from the shadows of the pandemic, the tourism industry is experiencing a shift in traveler dynamics. This summer, European destinations are set to welcome an influx of Chinese tourists, providing a much-needed boost to hoteliers and restaurateurs across the continent. […]
Estée Lauder Companies, L’Oréal Suffer as China Duty-Free Spend Continues to Fall
Estée Lauder Companies, L’Oréal Suffer as China Duty-Free Spend Continues to Fall The allure of the Chinese travel retail market has long been a beacon of hope for global beauty conglomerates like Estée Lauder Companies and L’Oréal. With the influx of Chinese tourists seeking luxury goods at duty-free shops, these companies positioned themselves to capitalize […]