On April 14th, at the 2024 China (Hainan) high -end consumer goods development conference, KPMV and Moodyevit released the “Hainan Free Trade Port Tourism Retail White Paper 2024 Edition” (hereinafter referred to as the “White Paper”).
“White Paper” has analyzed the current status of the global tourism retail market and the current situation of consumer trends, and future prospects of the global tourism retail market and the current outlook of Hainan’s tourism retail market.It reveals the future development direction and core trend of the Hainan Free Trade and Port Tourism Retail Market.
“White Paper” pointed out that in 2023, Hainan’s tourism retail market accounted for 9.2%of Hainan’s GDP, ranking second in the country. Among them, the number of tourists rose 49.9%, and the sales of duty -free shops also increased by 19.3%. It is expected to continue to increase in 2024.
According to the “White Paper”, the global duty -free and tourism retail market share in 2022 reached 52%of the Asia -Pacific region. According to categories, perfume and cosmetics accounted for the highest proportion, reaching 43.7%, and the China -Demu Group became the top global tourism retailer.
In addition, Hainan’s outlying islands tax -free sales have gradually risen, and Hainan’s outlying islands tax -free sales provide a variety of pick -up methods, providing customers with convenience and guarantee.With the power and supply of demand and supply, Hainan consumption will be upgraded.”Millennium” is still the main force of the consumer market. “Generation Z” is more sensitive to prices; “his economy” has emerged, and single consumption has entered the era of high quality 2.0;
“White Paper” believes that high -end consumption power has emerged or leads a new trend of duty -free markets.The business layout continues to expand, tax -free, luxury and boutique have become the new focus, and local luxury brands have gradually developed.
The “White Paper” analysis believes that with the blessing of Hainan’s free trade port policy, such as freedom and convenience of trade and investment freedom, Hainan zero tariffs, low tax rates, minimalist tax systems, and the construction of rule of law will be more promoted to the tourism retail market.
“White Paper” for Hainan Tourism Retail Market
Forecast in the future
◎ First, the development of science and technology can plus “numbers”, that is, the transition from offline to online integration with omni -channel integration of a new era, digital technology reshape consumer behavior habits, and technology promoting brigades lead the new economic growth of Hainan;
◎ Second, a new engine of tax -exemption+cultural tourism characteristics, such as promoting the innovation of consumer scenarios, driving the construction and development of the entire industry chain with tax -free shopping as its core;
◎ Third, the fragrance market will still be an important engine. The market share of perfume and cosmetics will still top the list. The major duty -free groups attach importance to the layout of the aroma line and continue to increase the fragrance business;
◎ Fourth, policy leadership tax reforms, policy dividends continue to be released, and tax reform will further activate market vitality.
“White Paper” predicts that with the start of the operation and the continuous upgrading of outlying islands, Hainan will usher in the peak period of new commercial entry into the market in 2024.Preferential policies such as zero tariffs on the island are expected to attract the further gathering of high -end luxury brands and attract more overseas consumption return.The improvement of the tax -free limit will also drive changes in the sales structure. It is expected that the fragrance and high -end boutique will become the main force of the sales of duty -free products.
Zhang Lanlan, the chief partner of the Hainan region of China, said that with the continuous release of the dividend of the Hainan’s outlying islands, the scale of the Hainan tourism retail market remains a good situation. The service -oriented consumption represented by tourism and retail continues to maintain vitality. The consumer market continues to accelerate the recovery trendEssence
In the context of the relevant government departments in Hainan Province to vigorously carry out the “Consumption Promotation Year” series of promoting consumer activities, Hainan explores new development models from experiential consumption, luxury market, duty -free business, and high -end retail. At the same time, many tourism and retail companiesCarry out the attempts of digital transformation, online and offline omnicular channels, and strive to adjust the product structure, and strive to continuously improve their product innovation and market competitiveness.Looking forward to the future, the Hainan tourism and retail market will gradually move towards diversification and internationalization.
