Brazilian tax free spending in the UK has increased 100.16% in the UK over the past 12 months, putting it second only to Chinese, Japanese and Russian tourists, according to a new report by research group Global Blue, the world’s leading Tax Free shopping operator.
The company said that the average transaction size in UK stores from Brazilian shoppers had also leapt by 116.7% to £403 per transaction in the same period.
Figures relate to the 12 month period ending July 2011 and put Brazil on course to overtaking Italy as the seventh largest economy in the world, the company added.
Driving factors in the lap include economic growth and economic stability in Brazil, an affluent middle class, and fast growing high net worth individual market. Amid this, London’s wealth of directional fashion designers and hip labels are said to be a major draw for Brazil’s young fashion-forward consumers. Logistical factors have also come to play. TAM Airlines and British Airways both increased the number of flights to London in recent years to meet demand.
Richard Brown, Vice President UK of Global Blue commented: “Brazilian tourists are finally fulfilling their consumer potential on the UK high street. Brazilians are drawn to the UK by the variety of high end and high street fashion available and the excellent customer service on offer. Retailers now have an unprecedented opportunity to maximise their marketing to increase their Brazilian market share, and foster excitement and desire amongst this increasingly influential consumer group about their brands and products.”