About Duty-Free Retailing
Duty-free shops(or stores) are retail outlets that are exempt from the payment of certain local or national taxes and duties, on the requirement that the goods sold will be sold to travelers who will take them out of the country. Which products can be sold duty-free vary by jurisdiction, as well as how they can be sold, and the process of calculating the duty or refunding the duty component. In this only certain items are sold in the duty-free section based on the preference of travelers at each airport, as well as local restrictions. The items such as tobacco, liquor, perfume, jewelry, apparel and confections.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The Duty-Free Retailing market is expected to continue its growth trajectory, driven by increasing travel demand, rising disposable incomes, and evolving consumer preferences. By understanding the competitive landscape, key players, and emerging trends, businesses can effectively navigate this dynamic space and capitalize on the exciting opportunities it presents. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Duty-Free Retailing 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.
DFS Group Limited (Hong Kong), Dufry AG (Switzerland), Lotte Co., Ltd. (South Korea), Lagardère (France), Aer Rianta International (ARI) (Ireland), China Duty Free Group Co., Ltd. (China), Dubai Duty Free (United Arab Emirates), Duty Free Americas, Inc. (United States), Gebr. Heinemann SE & Co. KG (Germany) and King Power International Co., Ltd. (Thailand) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Duty-Free Retailing market by Type (Perfumes, Cosmetics, Alcohol, Cigarettes and Others), Application (Airports, Onboard Aircraft, Seaports, Train Stations and Others) and Region.
On the basis of geography, the market of Duty-Free Retailing 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).
Market Growth Drivers:
Less Price for International Products and Brands as well as Added Convenience are the Driving factors for Duty-Free Retailing Market
Challenges:
Linguistic Barrier creates Communication Gap between the Seller and Buyers.
Restraints:
Stringent Government Regulations is a Restraining Factor for the Market
Opportunities:
Growing Demand from End-users will create Future Opportunities for the Market
Market Leaders and their expansionary development strategies
In October 2023, Walker's Shortbread partners with Heathrow Airport for a delightful campaign, showcasing their iconic biscuits through airport sampling and exclusive travel retail packs.
In November 2023, Dubai International Airport unveils a mesmerizing new beauty haven featuring luxury brands like Dior, La Mer, and Guerlain.
Key Target Audience
Duty-Free Retailing Providers, Research Professionals, Government and Associated Bodies and End-users
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.