What: The Robin Report draws a comparative examination of the 3 main shopping capitals in Europe.

Why it is important: While London is lagging behind, no-one can tell if Paris or Milan are still fit for the expectations of new-gen Asian customers, especially Chinese, after 3 years of pandemic and self-pampering at home.

The retail tourism industry in major European cities, particularly London, Paris, and Milan, faces challenges but also sees potential renewal.

1. Retail Tourism and Asian Shoppers: These cities have relied heavily on Asian shopping tourists, especially from China, to bolster their economies.

1. UK Retail Complexities: UK landlords often lease to shell companies to avoid empty building charges. However, when tax season comes around, these storefronts frequently disappear. London's VAT rebate discontinuation for foreign travelers, post-Brexit, has created economic challenges. Further, London's exclusion from the Schengen visa agreement puts it at a disadvantage compared to Paris and Milan.

1. London's Oxford Street: A prime shopping location, Oxford Street has a mix of luxury stores, major brands, and questionable establishments, like a surge of American candy shops that appeared during the 2020 lockdown, suspected of dubious financial activities.

1. Revitalization Efforts: Local London authorities are aiming to rejuvenate Oxford Street, with widened sidewalks, more plants, public seating, and a new underground line. Efforts also include providing free pop-up spaces to attract innovative retailers.

1. Paris Challenges and Redevelopment: Paris has faced its own set of issues, including protests, political disputes, and high-profile store robberies. However, a major revamp is in progress, with plans to transform the iconic Champs-Elysées into a green corridor by 2030, aiming to prioritize pedestrians over cars.

1. Milan’s Ambitious Plans: Milan is set to undergo an extensive urban rebuild with a 110-hectare mixed-use development and 800,000+ square feet of new stores, readying the city for the 2026 Winter Olympics.

1. Asian Travel Outlook: With delayed passport renewals and visa issuances in China, the expected flood of Asian tourists to Europe has been postponed. However, a surge is anticipated next year.

1. Comparative Analysis: Paris and Milan's grand redevelopment visions for their city centers contrast sharply with London's more modest efforts. London's decision to end tax-free shopping for foreign travelers might push high-net-worth tourists to shop in Paris and Milan instead, although they might still choose to stay in London.

Overall, the future of retail tourism in these cities will be influenced by their respective infrastructural developments, policy decisions, and global travel trends.

A look at London, Paris and Milan as global shopping hubs