By 2023, duty free and retail sales are expected to reach about 125. Duty free and travel retail news travel markets insider. Duty free and travel retail sales worldwide, 20162023 statista. Microsoft word travel retail report by fbic global retail tech dec. This statistic shows the global duty free and travel retail dollar sales from 2016 to 2023. The report offer a comprehensive analysis of the key players such as dfs group, dufry, ls travel retail, lotte duty free, king power international group, the. Travel retail is big business, especially at major airports.
And outgrow the traditional retail segments liquor. The second large source of income of every airport is travel retail. About the european travel retail confederation etrc the european travel retail confederation etrc is an industry association representing the interests of the dutyfree and travel retail industry in europe, focused on creating the right environment to allow the industry to operate and achieve its potential. Travel retail industry distribution channels reason for. The travel retail industry is in the midst of unprecedented uncertainty with major impacts due to the pandemic.
With the lure of dutyfree shopping and over a billion people travelling worldwide, international brands such as loreal have aptly nicknamed this growing economy the sixth continent. International tourist arrivals worldwide will increase by 30% to 1. The report provides an opinion to help companies in the retail industry better understand the changes in their environment, seize opportunities and formulate crucial business. Travel retail knowledge volume 1 offers a practical guide for operators and brands to maximise every shopper opportunity. Overall satisfaction with travel hubs key driver output, april 2019. Duty free store sales are tax free and exempt from excise duties, on the. As a gateway to the caribbean and latinsouth american markets, miami is particularly. Entitled, emerging stronger in a postcovid world, the first showing in trbusiness series of incisive. Usually, the airport leases floor space to retail companies based on revenuedependent pricing. Entitled, emerging stronger in a postcovid world, the first showing in trbusiness series of incisive, thought. Global duty free and travel retail sales, product category market shares, 2014. Sep 04, 2018 according to swiss travel retail research firm m1ndset, the top two reasons chinese consumers say they buy duty free items are that they offer good value for money and a clear price advantage. Travel hubs should offer a wider range of healthy options.
Resilient lvmh caps sales decline to just 15 per cent during coronavirus lvmh has reported a sales decline of 15 per cent for the first quarter of this year, a staggering achievement given its most lucrative market, china, was shut down for. David gilbert summarizes the following reasons for the use of retail travel agents and limitations of using direct channels. Global duty free and travel retail sales 20162023 statista. Jun 24, 2014 outside of taxfree shopping and the lure of dutyfree, increasing investment is being made by luxury brands into travel retail, specifically within airports. Mar 21, 2020 as an industry service and in response to huge demand, the moodie davitt report is attempting we use that term as we need your help to create a regularly updated database of how the coronavirus is affecting the travel retail sector through current and future store closures and hopefully reopenings. The travel markets insider newsletter is attached to this post as a pdf file. Duty free and travel retail industry worldwide statista. Duty free and travel retail is a global industry which specializes in selling products to international travelers. Online shopping here to stay duty free views on ways for retailers to pivot on ecommerce. About the european travel retail confederation etrc the european travel retail confederation etrc is an industry association representing the interests of the duty free and travel retail industry in europe, focused on creating the right environment to allow the industry to operate and achieve its potential.
They allow the parallel purchase of insurance, car hire, rail travel to the airport, travelers cheques and so on. We sheduled meetings to present wtdcs door to door transportation and foreign trade zone warehousing for the travel retail, spirits, and duty free industries. Research paper the travel retailer of the future 5 generation z aged today between 5 and 20 years old are the adults of tomorrow. The report provides an opinion to help companies in the retail industry better understand the changes in their environment, seize opportunities and formulate crucial business strategies. Far from being limited to duty free areas of hub airports, travel retail covers all the stores and storebrands located in all places where there are concentrations of people on the move. With many dutyfree retailers closing their outlets temporarily, the airports council international aci predicts that the prolonged duration of covid19 is anticipated to significantly impact the nonaeronautical revenue at the airports. The travel retail sector has biggest growth opportunities. Travel retail market size, share, trend, growth and. Retail sales through duty free retail in saudi arabia.
Business travel retail market overview with demographic data and industry growth trends 20172023 global travel retail, 2017 market research report is a professional and indepth study on the current trends and future forecast. Behaviour towards dutyfree pricing, by age group, april 2019. Representing the dutyfree and travel nordic retail industry. Duty free and travel retail industry worldwide get the report with graphs and tables on. Why travel retail is big business for beauty brands. The retail industry should be prepared for changing economic conditions in the coming year. With that in mind, the travel retail industry should exploit the price advantage offered by tax exemptions on core categories. In a year highlighted by major agreements with food and beverage concessions operator ohm concession group and brookstone stores in u. Inside retail asia latest duty free news and business trends within the travel retail industry.
The influence that travel companies have now will affect their purchasing behaviour when they have children and even when they become the active seniors that are the bread and butter of todays travel retailers. The worldwide airport duty free market was worth around usd23 billion in 2010 source. Travel retail is heavily focused on airports, stations and ports, but also encompasses taxfree shops in. The travel retail market in asiapacific majorly is driven by the tourism industry, as many foreign investors visit countries such as hong kong and malaysia for taxfree shopping. Travel retail market for rising trends, demands and. Membership of the nordic travel retail group a community of industry professionals the nordic travel retail group is characterised by an openminded.
Any company that supplies or operates in selling goods to travelers between two or more countries can join the nordic travel retail group. A short history of duty free the irish have brought us many pleasures in life, not least guinness and a fair few good whiskies. According to swiss travel retail research firm m1ndset, the top two reasons chinese consumers say they buy dutyfree items are that they offer good value for money and a clear price advantage. Did you know, though, that the irish are also responsible for duty and taxfree shopping as we know it today. Duty free shops are exempt from the payment of certain local or national taxes and duties, normally with the requirement that the goods are only sold to travellers who will take. Travel retail industry must be ready for shoppers return the global shutdown remains in place, with many countries on lockdown and travel restrictions in pla. Our travel retail recruiters have developed a deep network and expertise in the new york city area and surroundings in miami. Mar 20, 2020 duty free and travel retail is a global industry which specializes in selling products to international travelers. Dfni provides all the latest news and insights from duty free brands, travel retailers and airport operators. The more people that fly through an airport, the more revenue retailers earn. The global travel retail market is in a unique position to capture the attention of billions of consumers. This sector has, however, been slow to adopt digital technologies.
May 22, 2012 capas india travel retail report, which was released this week, surveyed more than 7000 passengers across 12 airports and highlights the massive potential of travel retail in india. Dutyfree market travel retail market 20182023 industry. History of duty free travel retail history tax free travel. The travel retail industry has seen huge growth over the past few years. Since 2012, asia pacific has been a key region for travel retail market because of the rising number of chinese travelers going abroad. Travel retail market size, share and growth analysis industry. Far from being limited to dutyfree areas of hub airports, travel retail covers all. Fashion goods, accessories, hard luxury items, cosmetics and fragrances. The covid19 pandemic is taking a devastating toll on the travel retail businesses globally and in this weeks issue two of the industry s major players, dufry along with its hudson division and gebr. Travel agents offer opportunities for onestop shopping. Travel retail news duty free news business data travel.
Travel retail industry must be ready for shoppers return. Trbusiness has received a tidal wave of crossindustry support for the inaugural travel retail connect trconnect covid19 webinar, which aired today 5 may. Global opportunity analysis and industry forecast, 20172023, the global. Recent research on asiapacifics travel retail industry clearly shows a sector underperforming. Far from being limited to dutyfree areas of hub airports, travel retail covers all the stores and storebrands located in all places where there are concentrations of people on the move. With the outlook for global growth dimming and the uncertainty of trade tariffs unlikely to go away soon, we expect real gdp growth to slow to 1. The global duty free retailing sector is forecast to grow at a cagr of 8. Travel retail 2020 summit of the americas conference.
Travel retail market size, share and growth analysis. Dfni provides all the latest news and insights from dutyfree brands, travel retailers and airport operators. In its report, global duty free retailing market 20172021, key drivers of industry growth include excise duty exemptions and a concentration on premium product offerings. Whether you are a supplier looking to launch a new brandproduct, a retailer looking to expand your business into new areas, or an operator seeking to raise your profile within the market place or offer specialist services to the industry, essential communications can assist you in achieving your goals. Feb 16, 2011 the newly founded travel retail division, headquartered in switzerland, will implement the expansion of the companys international travel retail activities initially in europe, before reaching the middle east and africa, followed by asia and the americas. Travel retail market overview with demographic data and. Asian travel retail sector missing out inside retail asia. Travel retail is heavily focused on airports, stations and ports, but also encompasses tax free shops in city centers.
The covid19 pandemic is taking a devastating toll on the travel retail businesses globally and in this weeks issue two of the industrys major players, dufry along with its hudson division and gebr. Economic impact of duty free and travel retail in europe. On the dutyfree side, the airport channel is expected. There are lots of confectionery brands in travel retail today but most socalled travel retail exclusives are in fact just dressedup versions of the same countline. Breaking the travel retail industry airport business. Trbusiness, travel retails leading provider of duty free and travel retail news, launched the first and only consumervoted awards dedicated to the travel retail industry in 2018 in a partnership with leading swiss consumer research company m1ndset. Dutyfree and travel retail market global outlook and. While the overall scores reflect a pass mark, new insights into the ways asian travellers shop, what they miss and most tellingly the lukewarm assessment of value suggest huge room for improvement. Dutyfree and travel retail dftr is a unique retailing channel marketing to the international traveller and a significant source of income and marketing. Various market players are keen to expand their market presence by establishing themselves in. The travel retail market in asiapacific majorly is driven by the tourism industry, as many foreign investors visit countries such as hong kong and malaysia for tax free shopping. Nov 02, 2018 4 tips for successful training in the luxury travel retail industry november 2, 2018 fiona tindall 5 min read selling luxury brands in the dutyfree world is a different proposition to selling them in highend stores on bond street, fifth avenue or the champselysees.
Dutyfree and travel retail market global outlook and forecast 20182023. The travel retail industry touches every country on the globe and therefore we utilize a network that can services each market appropriately. In its report, global dutyfree retailing market 20172021, key drivers of industry growth include excise duty exemptions and a concentration on premium product offerings. Dec 17, 2014 true exclusivity, dorais explained, is an invaluable quality in travel retail. Various market players are keen to expand their market presence by establishing themselves in the asian markets. Welcome to the trbusiness travel retail awards the only consumervoted awards dedicated to travel retail. The regional breakdown showed that asia pacific was once again the primary driver of growth. This is about to change according to industry surveys. United states duty free and travel retail news duty free.
Airport retail is increasingly competitive hermesa as travel retail has grown in asia, international brands have invested heavily to gain a foothold in the regions largest airports. Travel retail product category growth outlooks by growth driver. The economy slowed last year, with real gdp growth declining to 1. According to a new report published by allied market research, titled, travel retail market by product and channel.
Travel retail insights retrail your trail to travel retail. Travel retail catching up on ecommerce digital journal. Trbusiness has received a tidal wave of cross industry support for the inaugural travel retail connect trconnect covid19 webinar, which aired today 5 may. There are lots of confectionery brands in travel retail today but most socalled travel retail exclusives are in fact just dressedup versions of the same countline or bar found in the petrol station or kiosk downtown. According to a new report published by allied market research, titled,travel retail market by product and channel. Everyone has a forte, and travel retail media relations is ours. True exclusivity, dorais explained, is an invaluable quality in travel retail. Global opportunity analysis and industry forecast, 2018 2025. Tfwa is an association of brands, whose mission is to identify trends and opportunities, build awareness and provide a business platform for the global duty free and travel retail industry to prosper. Approximately 70 per cent of passengers currently buy nothing at all at the airport.
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