The value of tax refunds carried out by Global Blue was up 25% in 2011, more than double the growth in the broader luxury goods market.
Sales of luxury goods grew 10% to EUR 191bn in 2011, according to consultancy Bain & Co. This makes 2011 a record year, even outperforming the previous 2007 peak, with strong demand from Chinese customers the main driving force.
Even this outstanding performance, set against a background of economic angst, was outshone by the rise in Tax-Free transactions carried out by Global Blue, most of which are categorised as luxury purchases, such as fashion, jewellery, and watches.
Illustrating how important international customers are to European retailers, Reuters reports a sales assistant in London’s Anya Hindmarch store saying: “"They [British customer] used to come in and say, 'I'll have it', but now they don't. The oriental customers still do; they come in and they'll buy six in one go.
