Best Prospects In The Global Travel Retail Market And Strategies For Growth – Includes Travel Retail Market Trends
The Business Research Company’s report goes into great detail on the travel retail market size and growth, travel retail market regional analysis, travel retail market competitive landscape, and other critical information needed to excel in the travel retail industry.
Major players in the travel retail market include Aer Rianta international, China duty free group co.ltd., Dufry AG, Duty free americas Inc, Gebr. Heinemann se & co.kg, King power international, Lotte Hotel, Lagardère sca, The shilla duty free, DFS Group, Flemingo International, The Naunace Group, Dufry, Dubai Duty Free, James Richardson Group, Lotte, and Qatar Duty Free.
TBRC’s comprehensive market report based on extensive research will assist you in seamlessly devising your approaches in order to match key market player strategies.
The global travel retail market size is expected to grow from $58.89 billion in 2021 to $68.54 billion in 2022 at a compound annual growth rate (CAGR) of 16.4%. The global travel retailing market size is expected to grow to $111.02 billion in 2026 at a CAGR of 12.8%.
Asia-Pacific was the largest region in the travel retail market in 2021.
The travel retail market consists of sales of travel retail by entities (organizations, sole traders, and partnerships) that refer to the business mainly revolving around airports, airplanes, cruise ships, and downtown duty-free stores. Travel retail products are sold during a travel environment where taxes and duties are payable, even during international travels. It is also referred to as the business of catering to shoppers while they are in transit.
The growing number of international travellers is expected to propel the growth of the travel retail market going forward.
Technological Advancement is a key trend gaining popularity in the travel retail market. Technological advancement is a discovery of knowledge that advances technology. Travel retailers are using data insights such as advanced knowledge about the arrival and destination of the customer, and to cater to specific needs. Staff and retail displays are designed to accommodate incoming passenger language and cultural sensitivity so that the right products are plainly visible to the right customers.
TBRC’s global travel retail market report is segmented:
By Product Type: Perfume and Cosmetics, Wine and Spirit, Electronics, Luxury Goods, Food, Confectionery, and Catering, Tobacco, Others
By Channel: Airports, Cruise Lines, Border, Down Town and Hotel Shops, Railway Stations, Others
By End-User: Children (less than 18 years old), Youth (18-30 years old), Middle-Aged (30-59 years old), Elder (greater than 60 years old)
By Geography: North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
The Travel Retail Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides an overview of the travel retail market globally and regionally, analyzes and forecasts market size, share, travel retail market players, travel retail market segments, leading competitor revenues, profiles and market shares.
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