Airport retailing has become a popular concept in the few decades. Often called travel retail, it has become one of the important strategies of key companies planning to promote and create awareness about their brand. Airports where airfares are low are not able to generate high revenue from aeronautical business. Therefore, they shift to non-aeronautical businesses such as retail shops, restaurant, bars, and others. Airport retailing can also include services including hotels, nursing homes, car rental outlets, banks, exchange offices, drugstores, and other stores such as jewelry, books and magazines, gifts and crafts, clothing & accessories, convenience stores, optics, perfumes, and souvenirs.The research analyst at AMA estimates Airport Retailing market to grow at a compounded annual growth rate of 6.1%
AMA Research have segmented the market of Global Airport Retailing market by Type, Application and Region. On the basis of Type, Fragrance and Cosmetics are dominating the market in the year 2020 where as Liquor & Tobacco stood as second largest market share.
On the basis of geography, the market of Airport Retailing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Rising Promotional Activities to Increase the Sale of Duty Free Products
Increasing Tourism Sector Globally, Expansion of Multinational Retailers and Increasing Number of Terminals at Airport and Rise in Number of Passengers, Specifically in Developing Countries Includes India and China
Increasing Customer Experience at Airports in Both Developed and Developing Economies and Surging the Disposable Income of the Population and Availability of Luxury Products at Affordable Prices
- Stringent Government Rules & Regulations
In addition to the aforementioned factor, Increasing Tourism Sector Globally
is expected to propel the growth of the market over the forecast period.
Developments in the competitive environment mean that global players cannot necessarily expect to establish a monopoly at the major hubs, in fact, to a certain extent, global operators’ objectives are at odds with the airports’ current priorities.
The key Manufacturers profiled in the study are Autogrill (Italy), Baltona SA (Poland), Dufry (Switzerland), Gebr. Heinemann (Germany), Duty Free America (United States), Dubai Duty Free (United Arab Emirates), Bahrain Duty Free Shop Complex (Bahrain), World Duty Free Group (WDFG) (Spain), DFS Group (Hong Kong), Aer Rianta International (Ireland), Lotte Duty Free (South Korea) and King Power International (Thailand). A lot of Global players are profiled in the research study indicating a strong market dependence.