Reintroducing tax-free shopping would be ‘welcome relief’ for luxury sector
Reinstating tax-free shopping for tourists visiting the UK would be a welcome relief for the luxury sector, which is suffering from softer consumer demand, according to GlobalData.
The move would benefit retailers across the apparel sector, especially luxury players who have lost tourist sales to other attractive markets such as Paris, Milan and Madrid.
The termination of tax-free shopping has caused the UK to be particularly impacted by a slowdown in the luxury market, with retailers like Burberry underperforming in the country when compared with the rest of Europe.
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