Chic Outlet Shopping® hosts tourism roundtable
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Chic Outlet Shopping® by Value Retail hosted the fourth ‘Shopping Tourism’ round-table in Shanghai, themed “East by West, the rise of Luxury Globalista”. The event highlighted the understanding of the emerging Shopping Tourism sector and how it impacts on the luxury retail and travel operators. Panellist debated how established luxury brands are venturing into the tourism arena, the growth and impact of Shopping Tourism on the travel industry particularly in China.
Daniel Jeffreys, Founder for Deluxewords said: “70% of Ultra high net worth individuals (UHNWIs) and high net worth individuals (HNWIs) identified travel as the prime way to spend the disposal income.”
Adding further: Hui Mei Lee, Director, Premium Products and Product Development, Visa Worldwide highlighted: “China has overtaken Japan, becoming the highest spending countries in the Asia Pacific region.”
Other opinions focused on the fact that Chinese visitors are now seeking for a more complete travel experience, they are now demanding elements such as art and cultural experience, along with luxury shopping, to be part of their travel experience. Chinese luxury travel consumers are discovering new channels as sources of their information.
Referring to Value Retail China’s upcoming Suzhou Village™ project, Dr Wang Rudong, director of marketing and promotion sector of Suzhou Municipal Tourism Administration said: “Suzhou Village™; the first Chic Outlet Shopping Village® by Value Retail in China will further complement tourism resources in the region and thus, provide a true destination experience for all visitors to Suzhou.”