Global Travel Retail Market By Product Type (Electronics, Food, Confectionery & Catering, Fashion and Accessories, Perfumes & Cosmetics, Tobacco Goods, Wines and Spirits, and Others), By Distribution Channel (Airports, Cruise Liners, Railway Stations, and Border, Downtown, & Hotel Shops), By Geography – Forecast (2018 - 2025)
This report studies Travel Retail in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2011 to 2015, and forecast to 2025.
Travel Retail is a global industry selling goods to international and domestic travelers, where purchases are exempt from local or national taxes and excise duties.
The stores generally sell to customers leaving the country of sale, such that products always end up leaving the country after purchase.
The global travel retail market was worth $XX million in 2017 and is forecasted to reach $XX million by 2025, growing at a CAGR of XX% during the forecast period (2018-2025).
The number of passengers opting for international travel has kept on rising, with travelers prone to shop in duty-free zones which offer tax incentives and reduced prices. The pre-determined routes for departures at major airports offer tremendous opportunities for improved customer service to retailers. The changes in lifestyle and spending power of consumers have also positively influenced the market growth.
The prevalent stringent government rules in the travel retailing industry, especially for airport retailing might hamper the growth of the market. The difficulty for new market entrants is also very high, owing to the limited available retail space. Fluctuations in international currencies too might hamper the growth of the market.
The global travel retail market is segmented by product type into electronics, food, confectionery & catering, fashion and accessories, perfumes & cosmetics, tobacco, wines and spirits, and others. The global travel retail market is segmented by distribution channel into airports, cruise liners, railway stations, and border, downtown, & hotel shops.
The companies thus focus on availing of tax concessions and benefits as part of the business strategy. For instance, in 2018, Motta Internacional secured the consumer electronics concession at Tocumen International Airport for its Attenza Duty Free brand.
The travel retail market by geography is segmented into North America, South America, Europe, Asia-Pacific, and Rest of the World (RoW).
The travel retail market in China holds significant market share, owing to rise in disposable income and spending power of consumers and the implementation of larger retail experiences which include shops, restaurants, bars and other forms of retail stores.
In September 2018, The Shilla Duty Free Company announced the hosting of two separate large-scale promotions from Hermès and Parfums Christian Dior, within its North and South stores (respectively) at Hong Kong International Airport.
The global travel retail market is growing at a rapid pace and is expected to witness healthy competition among companies during the forecast period. The companies are focused on the launch of new products and stores in an attempt to expand global business reach. For instance, in June 2018, Lotte opened up Jeju duty-free store in Jeju city’s Doryeong-ro district, South Korea. The new store, built at the cost of USD 72 million, spans three floors of the Lotte City Hotel.
By Product Type
- Food, Confectionery & Catering
- Fashion and Accessories
- Perfumes & Cosmetics
- Tobacco Goods
- Wines and Spirits
By Distribution Channel
- Cruise Liners
- Railway Stations
- Border, Downtown, & Hotel Shops
Table of Content
- AerRianta International Cpt
- China Duty Free Group Co., Ltd.
- DFS Group
- Dufry AG
- Duty Free Americas, Inc.
- Gebr. Heinemann SE & Co. KG
- King Power International Group Co. Ltd.
- Lotte Duty Free Jeju Co Ltd
- Lagardère Travel Retail SAS
- The Shilla Duty Free company
What Information does this report contain?
- What was the market size of the Travel Retail Market in 2016 and the expected market size by 2024, along with the growth rate?
• An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
• Which are the largest revenue generating products, services or regions and their comparative growth rate?
• Which technology is in trend and how would it evolve during the forecast period (2016 – 2024)?
• Which are the leading companies in the Travel Retail Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?
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