San Francisco, California, October 16, 2017: “Airport Retailing Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025” is the latest research report added in the vast database of TMR Research that sheds light on the global airport retailing industry. It covers airport travel retail sales at both air side and land side, number of air-travelers by year and region, and growth in overall spending of air-travelers at the airports. The report also talks about the market drivers, restraints, trends, and future opportunities that might come up in the market. The publication also offers vital information about the overview, future outlook, and market scope. It speaks about the competitive landscape and dynamic of the market and aims to give out critical market intelligence to help players in the market to make informed decision about their investments.
Airport business structures and operations have dramatically evolved over the past few decades to help to the excessive development of the global airline segment. Deregulations and other regulatory change have spurred in the new aviation era across the globe. Emerging economies are experiencing massive growth in air traffic, diversity, and also options of airlines. Because of the growing competition in the global aviation sector, airports are now slowly turning to be more responsive towards the needs of aircraft customers and passengers.
The growth is chiefly driven by upsurge in the international passenger travel, especially in the nations in the Asia Pacific region. The region is projected to continue its considerable contribution to passenger traffic, backed by the visa-on-arrivals, economical aircraft carrier expansions, growing purchasing ability, and favorable rates of currency exchange. The European segment of global airport retailing market has been on the rise because of the increased footfall. The European region is projected to showcase massive growth in the global airport retailing market owing to the swift growth in tourism industry, economical air tickets, and increasing investments in airport to develop more retail spaces. The growth of the global airport retailing market is also driven by relaxation in visa rules for Asian passenger, increase of beauty and other cosmetic products in duty free industry, and easy methods of payment for Asian travelers. Asian travelers are among the biggest spenders on items of leisure.
The growth of the global airport retailing market is also expected to be propelled due to the easy accessibility of well-known brands. The direct retailer segment of global airport retail market is projected to dominate the market in terms of overall market share. Stores such as Hugo Boss, Levi’s, and Lacoste are well-known for maximum revenue generation. The overall market is also expected to benefit due to increasing marketing activities by individual brands and companies and ever growing passenger traffic. Retailing has thus, emerged as the leading income source for airports across the world.
However, political and social turmoil in the European countries such as France, Belgium, Greece, Germany, and Turkey have majorly impacted the traveler footfall and thus negatively affected the development of the global airport retailing market. To tackle these hindrances, efforts are being initiated by the authorities. For instance, several governments are altering their policies to attract more customers as high import duties on luxury items means buying these items offshore becomes economical. This is expected to significantly help the development of the global airport retail market.
The report also acknowledges different activities of the prominent players in the market such as mergers and takeovers, collaborations and joint ventures, and launch of new products that have helped in increasing their market share. Some of the key players in the global airport retailing market are Dufry AG of Switzerland, Dubai Duty Free of UAE, Legardere Travel Retail of France, and DFS Group of Hong Kong.
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