Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on travel retail market provides an in-depth analysis of
segments and sub-segments in the global as well as regional travel retail
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional travel retail market over the short term
as well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of the global travel retail market. According to the
report, the global travel retail market is projected to grow at a CAGR of
10.15% over the forecast period of 2019-2025.
Travel retail term refers to the
sales made in travel spaces such as airports, airlines, cruises, downtown
locations, and border shops mostly in duty free environments. Growth in travel
and tourism has increased over a short period of time. Increasing retail shops
at travel terminals provide retailers with a shop and communication window
catering to a large number of prospective customers. Travel retails stores are
mostly dominated by premium and luxury brands selling goods ranging from
watches, fragrances, cosmetics, apparel, electronic products, wines and
spirits, food items and so on.
Growth in a number of international
travelers is expected to be one of the major factors driving the travel retail
market. Further, the change in the shopping habits of consumers is also supporting the
growth of the travel retail market. Nowadays, travelers tend to shop at a travel
retail store owing to a wide range of goods and better prices and prefer to buy a gift during their journey. In addition, retail stores extensively utilize technology
to attract customers by connecting with them through different channels like
mobile apps and social media to digitized displays and provide exclusive
offers. Also, the growth of low-cost carriers (LLC) has attributed to the growth of the travel retail market. With the expansion of LLC to secondary travel, terminals have
opened new avenues for this market. Development in emerging countries is
expected to create a growth opportunity in the travel retail market during the upcoming
years. This can be attributed to a substantial rise in people’s incomes,
brought about by the growing economy of these countries. On the contrary, strict
government rules relating to airport retailing are likely to hamper the growth
of the travel retail market.
Among the geographies, the Europe
region is dominating the growth of travel retail market followed by the Asia Pacific
region. In the Europe region, wealthy tourists from the U.S., China, the Middle East, and Russia contribute significantly to the growth of the travel retail
market. Further, the Asia Pacific region is anticipated
to be the fastest-growing region. In the Asia Pacific region, many foreign investors
visit countries such as Hong Kong and Malaysia for tax-free shopping this
factor drives the growth of the travel retail market in this region. Further,
growing middle-class income in emerging Asian countries and enhanced living
standards are projected to boost the market.
The report on the global travel retail
market covers segments such as product and distribution channels. On the basis
of product, the sub-markets include wine & spirit, luxury goods, perfume
& cosmetics, electronics, confectionery & catering, and others. On the
basis of distribution channels, the sub-markets include waterways, airways,
railway stations, downtown and hotel shops, and others.
The report provides profiles of
the companies in the market such as Dufry AG, Aer Rianta International, DFS
Group Ltd., Dubai Duty Free, Duty Free Americas, Inc., Flemingo Internationa,
KING POWER International Group, Lagardère, Lotte Corporation, Qatar Duty Free,
and others.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of travel retail market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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