(Finance) – The fashion retail also reacts thanks to shopping tourism. According to data from Global Blue for the Italian Fashion FederationAmerican and Gulf country tourists characterized it shopping tax free italian nin the post-pandemic context,
guiding its recovery.
The recovery rate, i.e. what we are recovering compared to the same months of 2019 in the Fashion & Clothing category, is equal to a percentage of 44% in the months of March and April 2022 compared to 2019, with an average receipt passed from 811 euros in March-April 2019 to an average receipt of 948 euros in March-April 2022 (+ 17%). In particular the Gulf countries, in March, they have already exceeded what they had recorded in 2019 (+ 191% is the recovery rate) with an increase in the average receipt of 6%, going from 970 euros in 2019 to 1,120 euros in 2022.
“After the fluctuating first quarter for fashion consumption, some positive signs arrive in April (+ 3.5%) – declares Giulio Felloni, President of the Italy-Confcommercio Fashion Federation – also thanks to the Easter and festive period and to a return of tourism that bodes well. I trust in this auspicious sign towards the summer so that it can bring shopping tourism and smiles back to fashion shops. A smile that, finally, we can also see on the faces of our customers.
Of course, the latest events have not helped, but we will take action in all institutional offices, together with Confcommercio, to limit the impact of expensive energy and fuel and to tackle the increases. We have been coming for two complex years to which we will have to respond with initiatives and projects that promote Made in Italy by providing clarity on the legislation, facilitating access to credit and sharing programs, even within the fashion supply chain, with the world of culture, ‘education and the professionals involved “.
The fashion sector shows its resilience also in High Street which record constant returns. It is interesting to highlight the performance of Via Montenapoleone in Milan with a maximum rent of 15,150 Euro / sqm / year, Via dei Condotti in Rome which reaches 15,000 EURO / sqm / year, while a shop window in Piazza San Marco in Venice is worth up to 8,996 euros / sqm / year.
Moving on to fashion retail, as a consequence of the pandemic, from 2019 to 2021, in Italy there is a 5% decline in active companies, a 3.5% decrease in the number of local units and a 9.7% reduction in the number of employees. If the activities in physical stores have suffered a contraction, online purchases in the fashion sector have not stopped growing from 2019 to 2021.