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The new travel trend: Shopping tourism

April 20, 2012

There's a new buzz phrase in the world of travel: Shopping tourism. According to Forbes, the trend is common, although its new name isn't yet widely known.

"Shopping tourism" demonstrates how shopping opportunities influence a consumer's travel decisions. One retailer has masterfully combined tourism and shopping to create a retail goldmine.

The Chic Outlet Shopping brand, owned and operated by Value Retail, has nine "shopping villages" placed outside of some of Europe's most favored destinations, including London, Dublin, Paris, Madrid, Barcelona, Milan, Brussels, Frankfort, Munich and soon Shanghai, China. They feature big-name designer stores — with collections from luxury brands such as Yves Saint Laurent, Christian Dior, Dolce & Gabbana, Jimmy Choo, Valentino, Missoni or Prada — at reasonable prices, according to the Forbes story.

The company, which annually attracts 29 million tourists seeking "affordable luxury," posted 20 percent growth in 2011, hitting record sales of $2.18 billion. The outlets also saw a 14 percent increase in comparative store sales growth and a 7 percent increase in spend per visitor.