Market Overview:
Duty-free retailing refers to the selling of goods through retail outlets that exempt from the payment of certain local or national taxes or duties. The duty-free products are sold to the travelers who purchase them will transport these products out of the country. Further, the rise in the outbound tourists, a strong economy, the opening of new routes, and growing middle-class desire for air travel are some of the factors driving the development of the global market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Dufry AG (Switzerland), Lagardere Travel Retail (Singapore), Lotte Duty Free (South Korea), LVMH (France), Aer Rianta International (ARI) (Ireland), China Duty Free Group (China), Dubai Duty Free (United Arab Emirates), Duty Free Americas (United States), DFS Group (China) and The King Power International Group (Thailand). |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility |
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Vendors of Duty Free Retailing Market Study:
Dufry AG (Switzerland), Lagardere Travel Retail (Singapore), Lotte Duty Free (South Korea), LVMH (France), Aer Rianta International (ARI) (Ireland), China Duty Free Group (China), Dubai Duty Free (United Arab Emirates), Duty Free Americas (United States), DFS Group (China) and The King Power International Group (Thailand).
Duty Free Retailing Market Segment Analysis
Scope | Sub-Segments |
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Application / End User | Airports, Onboard Aircraft, Seaports, Train Stations and Other |
Type | Fashion Apparel and Accessories, Hard Luxury Goods, and Electronics, Cosmetics and Perfumes, Wines and Spirits, Tobacco and Confectionary and Fine Foods |
Influencing Trend:
High Penetration of Global Branded Products and Rapid Growth Rate of Duty-Free Retailing in Developing Regions
Market Growth Drivers:
Increasing International Tourism, Demand for Fashion Apparel and Accessories, Hard Luxury Goods, and Electronic Products among Consumers and High Demand for Duty Free Retail Shops
Challenges:
Minimum Focus of Consumers on Shopping at Point of Travel
Restraints:
Communication Gap between the Seller & buyer due Linguistic Barrier in the Growth of Duty-Free Retailing Market
Opportunities:
Increasing Airport Traffic & Rising Consumer Spending on Duty Free Retail Products and Rising Number of Middle-Class Population and Rapid Urbanization
Some of the other players that are also part of study are Gebr. Heinemann (United States), JR/Group (James Richardson) (Australia), King Power International Group (Thailand) and The Shilla Duty Free (Singapore). The Global Duty Free Retailing market is gaining huge competition due to involvement of Global companies that constantly invest in research & development to meet market expectation with new innovation.
Latest Industry Highlights:
In January 2023, LOTTE DUTY FREE LAUNCHES TRAVEL RETAIL STORE FOR BEAUTY BRAND NONFICTION. Lotte Duty Free is offering free goods to online and offline consumers when purchasing Nonfiction products.
In July 2023, Lagardère Travel Retail expands its strategic partnership with Inflyter. This extended partnership supports Lagardère Travel Retail’s overall digital strategy to diversify digital sales channels and multiply touchpoints to engage customers throughout their journey.
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Duty Free Retailing market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Duty Free Retailing market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Duty Free Retailing Manufacturers, Government & Regulatory Bodies, Industry Associations, Downstream Vendors, Potential Investors and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.