More and more, watch and jewellery shoppers are going global to find the best designs and the best prices. Let’s take a look at the top 5 destinations for tax free shoppers (TFS) to buy watches and jewellery (W&J): Singapore, Italy, France, Germany and Spain.
Singapore is the world top destination when it comes to tax free shopping per head for watches and jewellery, according to retail analyst Global Blue.
The city state benefits from a concentration of luxury malls such as Paragon, Raffles City, Millenia Walk, Marina Bay Sands and ION Orchard, each offering multi-brand boutiques, as well as standalone stores for brands including Cartier, Omega, Piaget and Tiffany & Co.
Shoppers tend to spend €2,600 more in Singapore compared to the global average of €1,645. Chinese consumers make up 40% of total sales thanks to an annual increase of 11%.
Spain has seen the highest growth in average spend in the Global Blue top 5 – 14% up on last year. The appeal of key cities such as Barcelona and Madrid, as well as the country’s well-heeled resort towns, is bringing luxury shoppers to the country.
Italy is home to fine jewellery brands like Bulgari, Buccellati and Pomellato, as well as a range of designer brands and global watch and jewellery specialists. Its famous shopping streets such as Via Monte Napoleone and Via Della Spiga in Milan, Via dei Condotti in Rome or Florence’s Ponte Vecchio attract many Globe Shoppers, who spend an average of €2,430 (up +6.6% compared to the year before).
France, with stores like Graff’s Paris flagship, Cartier’s nine boutiques and Louis Vuitton’s fine jewellery shop, entice jewellery buyers, while the city’s Triangle d’Or of haute horlogerie serves watch connoisseurs. Paris’s watch and jewellery average basket amounts to €3,900, second-highest from Global Blue’s top 5.
Germany sees the highest number of tax free transactions in Global Blue’s top 5, making up 11% of the global total, with watch and jewellery stores spread across major cities. Alongside the best in global brands, key shopping cities of Hamburg, Munich, Frankfurt and Berlin host exclusive German brands such as A Lange & Söhne and Glashütte Original, which offer a luxurious take on German engineering, while Bucherer and Wempe add fine jewellery into the mix.