About Duty Free & Travel Retail
Duty-free and travel retail is a retailing channel offering items to worldwide explorers in an exceptionally controlled retail climate administered by customs remittances, for example, air terminals, ports, ships, voyage ships, and landline shops, and their tasks are represented by public traditions specialists. Items that can be sold duty-free fluctuate by ward and various standards dependent on the job estimations, remittance limitations, and different variables. Air terminals address most of such deals around the world Duty-free and travel retail produces essential incomes for public flight, travel, and the travel industry ventures. Air terminals specifically progressively depend on business incomes to subsidize the improvement of their framework and to assist them with keeping the arrival charges payable via aircrafts as low as could be expected. At air terminals across the world, retail is presently the biggest supporter of non-aeronautical pay.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The Duty-Free and Travel Retail market is highly fragmented, and the top players overwhelmed the market with a larger part share. The giant players are expanding concentration around offering an assorted and wide scope of items that might empower the merchants to draw in countless buyers and gain enormous portions of the overall industry. The adoption of promotional campaigns and alluring value contributions might assist the players with supporting the opposition in the obligation-free and travel retail market. Analyst at AMA Research estimates that South Korea Vendors will contribute the maximum growth to Global Duty Free & Travel Retail market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Aer Rianta International (Ireland), China Duty-Free Group (China), DFS Group (Hong Kong)., The Shilla Duty-Free (South Korea), Dubai Duty-Free (Dubai), Dufry (Switzerland), Lotte Duty-Free (South Korea), Duty-Free Americas (United States), Ever Rich Duty-Free (Taiwan) and Gebr. Heinemann (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Sinsegae Duty-Free (Republic of Korea), King Power International Group (Thailand), W H Smith (United Kingdom) and Lagardere Travel Retail (France).
Segmentation Overview
AMA Research has segmented the market of Global Duty Free & Travel Retail market by Type (Beauty and Personal Care, Eatables, Fashion Accessories and Hard Luxury, Tobacco, Wines and Spirits and Other), Application (Airlines, Airports, Ferries, Seaports, Train Stations and Other) and Region.
On the basis of geography, the market of Duty Free & Travel Retail has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by By Product Brand, the sub-segment i.e. Local Brand will boost the Duty Free & Travel Retail market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in the Duty-free and travel retail globally and The rapid penetration of social media and digitalization in duty-free and travel retail shops
Market Growth Drivers:
The rising popularity of the travel and tourism industry, The increasing focus on digitalizing the retailing process to maximize profits and The growing demand for retail chains for luxury and premium brands of various products
Challenges:
The difficulty for the local players to introduce their product in duty-free and travel retail shops
Restraints:
Lack of customer interest in shopping at airports and Lack of promotion campaigns at these stores and high prices of products
Opportunities:
Companies are partnering with duty-free stores to launch limited or exclusive products and Opening more duty-free and travel retail shops to increase different growth opportunities
Market Leaders and their expansionary development strategies
In July 2023, The Moodie Davitt Report, a leading industry publication, partnered with ACI World, the airport council international, to launch the "Travel Retail Sustainability Awards" recognizing and promoting sustainable practices in the DF&TR industry.
In December 2023, L'Occitane launches a "Joyful Journey" campaign across airports worldwide, offering limited-edition festive sets and experiential activations.
Key Target Audience
Industrial Associations, Regulatory Bodies, Retail Suppliers, Local, National, and Global Brands and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.