Chinese tourists give European retailers new year boost
Written by Hannah McGrath
Chinese tourists spent more in-store and on mobile during trips abroad to mark Chinese New Year than ever before, according to the latest figures from Alipay.
The payments arm of Chinese e-commerce giant Alibaba analysed the data for spending during the 4 - 10 February holiday period in some of the 54 markets where Alipay is accepted as a form of payment.
The findings point to robust growth in both the volume and value of transactions from Chinese consumers travelling abroad, with marked growth in in-store transactions, up by 2.2 times on a year-on-year basis.
Europe dominated the list of countries where tourists spent the most on average: Denmark (22.7 times growth year-on-year), Spain (7.1 times), The Philippines (5 times), Belgium (4.7 times) and Switzerland (3.4 times).
In terms of product and outlet categories, Chinese tourists shopped more frequently in department stores and luxury shops in Europe, while those who travelled to Asian countries favoured cosmetics shops and convenience stores.
The data comes after a joint report released by Nielsen and Alipay last month showed that Chinese tourists paid for 32 per cent of transactions using mobile payment, overtaking cash for the first time, and that nearly 60 per cent of merchants surveyed experienced growth in both foot traffic and sales after adopting Alipay.