Travel Retail Market research report adoption is becoming very essential for the businesses as it supports with the better decision making, revenue generation, prioritizing market goals and profitable business. Today’s businesses call for the highly focused, comprehensive and detail-oriented information about the Market so that they get a clear idea about the market landscape. The research and analysis performed in this industry analysis report gives businesses clear idea of what is already available, what the market expects, the competitive environment, and what can be done to outshine the competitor.
The attention on the overwhelming players Aer Rianta International; DFS Group Ltd.; KING POWER International; DubaiDutyFree.com; China Duty Free Group Co.,Ltd.; Gebr. Heinemann SE & Co. KG; Dufry; Duty Free Americas, Inc.; Lotte Duty Free; Lagardère Travel Retail; THE SHILLA DUTY FREE; Flemingo; JR/Group; Qatar Duty Free; 3Sixty Duty Free, among others.
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An introduction of Travel Retail Market 2020
Global travel retail market is expected to rise to an estimated value of USD 146.53 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growing availability of these retail shops in the different applications such as hotels, greater exposure in airports and waterways.
Travel retail also known as duty free is a sales process consisting of commercialization of goods pertaining to the different product categories. This sales channel consists of goods that have not had the taxation, excise applied on their sale price and for sales to customers that are travellers. The taxation depends on product variation and also on the variety of regions that it is being sold in. The goods available are also limited to a certain quantity per individual.
Crucial Market Segment details-:
- By Product Type (Perfume & Cosmetics; Wine & Spirits; Electronics; Fashion & Accessories; Luxury Goods; Food, Confectionaries & Catering; Tobacco; Others);
- Sales Channel (Airport; Cruise Liner; Railway Station; Border, Downtown & Hotel Shops; Others);
- Geography (North America; South America; Europe; Asia-Pacific; Middle East and Africa) – Industry Trends and Forecast to 2026
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- Increasing levels of disposable income of individuals resulting in greater population base travelling cross-country and engaged in availing these particular services; this factor is expected to drive the growth of the market
- Surge in adoption of travel & tourism services is expected to drive the growth of the market
- Significant rush in the levels of urbanization of the world is expected to augment growth in the market
- Better facilitation for travelling which is a result of digitalization in airports inducing a rise in the population travelling across different regions is also expected to foster growth of the market
- Concerns regarding the presence of regulations for sales of particular goods only in the airport sales channel is expected to hinder the growth of the market
- Large costs associated with the operations of these retail shops reducing the profit margins/ratio of sales; this factor is expected to restrain the growth of the market
- Currency fluctuations, growing corruption and grey market also hampers the market growth
What are the Recent Development of the Market?
In December 2018, Lotte Duty Free announced that they had completed the acquisition of JR/Group’s duty free business for the Oceania region, specifically for the Australia & New Zealand region. The acquisition is a complement to their strategy of establishing themselves as the leader in travel retail for the region in the coming years. The acquisition includes four stores in the Australia region and one store in New Zealand.
In November 2018, Lagardère Travel Retail announced that they had completed the acquisition of Hojeij Branded Foods. This acquisition will reportedly expand their capabilities associated with travel retail for the North American region, specifically for the travel foodservice operations. The acquisition was valued at approximately USD 330 million in cash.
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Strategic Points Covered in Table of Content of Travel Retail Market:
Chapter 1: Introduction, Definition, Specifications, Classification and Scope the Travel Retail market 2019
Chapter 2: Exclusive Summery like Industry chain structure, Manufacturer cost structure, suppliers, etc
Chapter 3: Displays Trends, Drivers and Challenges of the Travel Retail market
Chapter 4: By the study of SWOT analysis it displays sales analysis, investment analysis, market analysis, etc
Chapter 5: It evaluates the market by segments, by countries and by manufacturers with revenue, share and sales by key countries in these various regions.
Chapter 6: Evaluate the leading manufacturers of the Global Travel Retail market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: Travel Retail Research Findings and Conclusion, Appendix, system and information source
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