Shopping Tourism: Billion Dollar Travel Trend
Even the thrifty sorts transform into shopaholics while on vacation. So it is a tad surprising that the leisure travel industry took this long to recognize the travel trend that is “shopping tourism”. Some people not only live to shop, they also travel to shop. So, it is understandable that shopping tourism plays a major role in people’s travel plans. A retail company called Chic Outlet Shopping is one of the early players in the world of luxury shopping tourism. The Europe-based firm, which comes under the umbrella of Value Retail, has zeroed in on the profitable arena of travel retail. From all angles, it appears that Chic Outlet Shopping’s fortunes are on an upswing. The company noted a 20 percent growth in 2011, with sales of $2.18 billion. Visitors have been spending 7 percent more, and with 29 million tourists dropping by for a shopping trip, Chic Outlet Shopping is sitting on the proverbial goose that lays golden eggs. Meanwhile, shopping tourism is being recognized as one ...