Airport retail is increasingly competitive hermesa as travel retail has grown in asia, international brands have invested heavily to gain a foothold in the regions largest airports. According to a new report published by allied market research, titled, travel retail market by product and channel. As a gateway to the caribbean and latinsouth american markets, miami is particularly. With that in mind, the travel retail industry should exploit the price advantage offered by tax exemptions on core categories. On the dutyfree side, the airport channel is expected. The more people that fly through an airport, the more revenue retailers earn.
Trbusiness has received a tidal wave of cross industry support for the inaugural travel retail connect trconnect covid19 webinar, which aired today 5 may. The regional breakdown showed that asia pacific was once again the primary driver of growth. Travel retail market size, share, trend, growth and. In its report, global duty free retailing market 20172021, key drivers of industry growth include excise duty exemptions and a concentration on premium product offerings. The travel retail industry has seen huge growth over the past few years. The covid19 pandemic is taking a devastating toll on the travel retail businesses globally and in this weeks issue two of the industrys major players, dufry along with its hudson division and gebr. The economy slowed last year, with real gdp growth declining to 1. Dutyfree and travel retail dftr is a unique retailing channel marketing to the international traveller and a significant source of income and marketing.
Dec 17, 2014 true exclusivity, dorais explained, is an invaluable quality in travel retail. Travel retail insights retrail your trail to travel retail. Duty free and travel retail is a global industry which specializes in selling products to international travelers. International tourist arrivals worldwide will increase by 30% to 1. Travel retail news duty free news business data travel. Our travel retail recruiters have developed a deep network and expertise in the new york city area and surroundings in miami.
This sector has, however, been slow to adopt digital technologies. Everyone has a forte, and travel retail media relations is ours. The travel markets insider newsletter is attached to this post as a pdf file. The travel retail sector has biggest growth opportunities. Did you know, though, that the irish are also responsible for duty and taxfree shopping as we know it today. Whether you are a supplier looking to launch a new brandproduct, a retailer looking to expand your business into new areas, or an operator seeking to raise your profile within the market place or offer specialist services to the industry, essential communications can assist you in achieving your goals. Far from being limited to dutyfree areas of hub airports, travel retail covers all the stores and storebrands located in all places where there are concentrations of people on the move. Travel retail market for rising trends, demands and. Fashion goods, accessories, hard luxury items, cosmetics and fragrances. With the lure of dutyfree shopping and over a billion people travelling worldwide, international brands such as loreal have aptly nicknamed this growing economy the sixth continent. Any company that supplies or operates in selling goods to travelers between two or more countries can join the nordic travel retail group. The worldwide airport duty free market was worth around usd23 billion in 2010 source. Travel retail knowledge volume 1 offers a practical guide for operators and brands to maximise every shopper opportunity. Global duty free and travel retail sales, product category market shares, 2014.
Asian travel retail sector missing out inside retail asia. Nov 02, 2018 4 tips for successful training in the luxury travel retail industry november 2, 2018 fiona tindall 5 min read selling luxury brands in the dutyfree world is a different proposition to selling them in highend stores on bond street, fifth avenue or the champselysees. The report offer a comprehensive analysis of the key players such as dfs group, dufry, ls travel retail, lotte duty free, king power international group, the. In a year highlighted by major agreements with food and beverage concessions operator ohm concession group and brookstone stores in u.
This is about to change according to industry surveys. There are lots of confectionery brands in travel retail today but most socalled travel retail exclusives are in fact just dressedup versions of the same countline or bar found in the petrol station or kiosk downtown. Travel retail market size, share and growth analysis industry. Membership of the nordic travel retail group a community of industry professionals the nordic travel retail group is characterised by an openminded. Mar 20, 2020 duty free and travel retail is a global industry which specializes in selling products to international travelers. Travel retail is heavily focused on airports, stations and ports, but also encompasses tax free shops in city centers. Various market players are keen to expand their market presence by establishing themselves in the asian markets. Why travel retail is big business for beauty brands. The global travel retail market is in a unique position to capture the attention of billions of consumers. And outgrow the traditional retail segments liquor. David gilbert summarizes the following reasons for the use of retail travel agents and limitations of using direct channels.
Dutyfree and travel retail market global outlook and. Global opportunity analysis and industry forecast, 2018 2025. Trbusiness, travel retails leading provider of duty free and travel retail news, launched the first and only consumervoted awards dedicated to the travel retail industry in 2018 in a partnership with leading swiss consumer research company m1ndset. The retail industry should be prepared for changing economic conditions in the coming year. May 22, 2012 capas india travel retail report, which was released this week, surveyed more than 7000 passengers across 12 airports and highlights the massive potential of travel retail in india. The travel retail market in asiapacific majorly is driven by the tourism industry, as many foreign investors visit countries such as hong kong and malaysia for tax free shopping. According to a new report published by allied market research, titled,travel retail market by product and channel. The travel retail market in asiapacific majorly is driven by the tourism industry, as many foreign investors visit countries such as hong kong and malaysia for taxfree shopping. Travel retail market overview with demographic data and.
Dutyfree and travel retail market global outlook and forecast 20182023. True exclusivity, dorais explained, is an invaluable quality in travel retail. Breaking the travel retail industry airport business. Entitled, emerging stronger in a postcovid world, the first showing in trbusiness series of incisive. We sheduled meetings to present wtdcs door to door transportation and foreign trade zone warehousing for the travel retail, spirits, and duty free industries. Welcome to the trbusiness travel retail awards the only consumervoted awards dedicated to travel retail. Research paper the travel retailer of the future 5 generation z aged today between 5 and 20 years old are the adults of tomorrow. Far from being limited to duty free areas of hub airports, travel retail covers all the stores and storebrands located in all places where there are concentrations of people on the move. The second large source of income of every airport is travel retail. By 2023, duty free and retail sales are expected to reach about 125. Travel retail industry must be ready for shoppers return the global shutdown remains in place, with many countries on lockdown and travel restrictions in pla. With the outlook for global growth dimming and the uncertainty of trade tariffs unlikely to go away soon, we expect real gdp growth to slow to 1.
Various market players are keen to expand their market presence by establishing themselves in. If you would like to learn more about liquor warehousing and inventory. Sep 04, 2018 according to swiss travel retail research firm m1ndset, the top two reasons chinese consumers say they buy duty free items are that they offer good value for money and a clear price advantage. History of duty free travel retail history tax free travel. Behaviour towards dutyfree pricing, by age group, april 2019. Entitled, emerging stronger in a postcovid world, the first showing in trbusiness series of incisive, thought. Trbusiness has received a tidal wave of crossindustry support for the inaugural travel retail connect trconnect covid19 webinar, which aired today 5 may. Mar 21, 2020 as an industry service and in response to huge demand, the moodie davitt report is attempting we use that term as we need your help to create a regularly updated database of how the coronavirus is affecting the travel retail sector through current and future store closures and hopefully reopenings. Duty free and travel retail industry worldwide statista. Travel hubs should offer a wider range of healthy options. With many dutyfree retailers closing their outlets temporarily, the airports council international aci predicts that the prolonged duration of covid19 is anticipated to significantly impact the nonaeronautical revenue at the airports. Duty free and travel retail news travel markets insider. Travel retail industry distribution channels reason for.
The global duty free retailing sector is forecast to grow at a cagr of 8. Approximately 70 per cent of passengers currently buy nothing at all at the airport. Travel retail is heavily focused on airports, stations and ports, but also encompasses taxfree shops in. Duty free shops are exempt from the payment of certain local or national taxes and duties, normally with the requirement that the goods are only sold to travellers who will take. Travel retail is big business, especially at major airports. Travel retail market size, share and growth analysis. About the european travel retail confederation etrc the european travel retail confederation etrc is an industry association representing the interests of the dutyfree and travel retail industry in europe, focused on creating the right environment to allow the industry to operate and achieve its potential. Duty free and travel retail industry worldwide get the report with graphs and tables on. According to swiss travel retail research firm m1ndset, the top two reasons chinese consumers say they buy dutyfree items are that they offer good value for money and a clear price advantage. Online shopping here to stay duty free views on ways for retailers to pivot on ecommerce. Global opportunity analysis and industry forecast, 20172023, the global. Travel retail industry must be ready for shoppers return. This statistic shows the global duty free and travel retail dollar sales from 2016 to 2023.
There are lots of confectionery brands in travel retail today but most socalled travel retail exclusives are in fact just dressedup versions of the same countline. Tfwa is an association of brands, whose mission is to identify trends and opportunities, build awareness and provide a business platform for the global duty free and travel retail industry to prosper. Global duty free and travel retail sales 20162023 statista. A short history of duty free the irish have brought us many pleasures in life, not least guinness and a fair few good whiskies. Duty free store sales are tax free and exempt from excise duties, on the. Far from being limited to dutyfree areas of hub airports, travel retail covers all. Travel retail catching up on ecommerce digital journal.
United states duty free and travel retail news duty free. The covid19 pandemic is taking a devastating toll on the travel retail businesses globally and in this weeks issue two of the industry s major players, dufry along with its hudson division and gebr. The report provides an opinion to help companies in the retail industry better understand the changes in their environment, seize opportunities and formulate crucial business. Representing the dutyfree and travel nordic retail industry. In its report, global dutyfree retailing market 20172021, key drivers of industry growth include excise duty exemptions and a concentration on premium product offerings. Recent research on asiapacifics travel retail industry clearly shows a sector underperforming. The influence that travel companies have now will affect their purchasing behaviour when they have children and even when they become the active seniors that are the bread and butter of todays travel retailers. Overall satisfaction with travel hubs key driver output, april 2019. Feb 16, 2011 the newly founded travel retail division, headquartered in switzerland, will implement the expansion of the companys international travel retail activities initially in europe, before reaching the middle east and africa, followed by asia and the americas. Usually, the airport leases floor space to retail companies based on revenuedependent pricing. Duty free store sales are taxfree and exempt from excise duties, on the.
Resilient lvmh caps sales decline to just 15 per cent during coronavirus lvmh has reported a sales decline of 15 per cent for the first quarter of this year, a staggering achievement given its most lucrative market, china, was shut down for. Dutyfree market travel retail market 20182023 industry. Travel retail 2020 summit of the americas conference. The travel retail industry is in the midst of unprecedented uncertainty with major impacts due to the pandemic. Dfni provides all the latest news and insights from duty free brands, travel retailers and airport operators. Since 2012, asia pacific has been a key region for travel retail market because of the rising number of chinese travelers going abroad. Economic impact of duty free and travel retail in europe. Jun 24, 2014 outside of taxfree shopping and the lure of dutyfree, increasing investment is being made by luxury brands into travel retail, specifically within airports. Duty free and travel retail sales worldwide, 20162023 statista. Microsoft word travel retail report by fbic global retail tech dec. Business travel retail market overview with demographic data and industry growth trends 20172023 global travel retail, 2017 market research report is a professional and indepth study on the current trends and future forecast. Retail sales through duty free retail in saudi arabia.
They allow the parallel purchase of insurance, car hire, rail travel to the airport, travelers cheques and so on. Dfni provides all the latest news and insights from dutyfree brands, travel retailers and airport operators. About the european travel retail confederation etrc the european travel retail confederation etrc is an industry association representing the interests of the duty free and travel retail industry in europe, focused on creating the right environment to allow the industry to operate and achieve its potential. The report provides an opinion to help companies in the retail industry better understand the changes in their environment, seize opportunities and formulate crucial business strategies. Travel agents offer opportunities for onestop shopping. The travel retail industry touches every country on the globe and therefore we utilize a network that can services each market appropriately. Recent research on the asian travel retail industry clearly shows a sector underperforming. While the overall scores reflect a pass mark, new insights into the ways asian travellers shop, what they miss and most tellingly the lukewarm assessment of value suggest huge room for improvement. Travel retail product category growth outlooks by growth driver.