Rising Incomes, More Footfall in Airports Leading to Growth in Retailing

The airport retailing market is already big owing to a high inflow and outflow of consumers. Players are scurrying to tap into this demand, slice out a piece, bigger than the rest. It is as if the market is brimming with too many opportunities, but the number of players is as wide, is not wider. And, it goes without saying that this is a direct outcome of enhanced convenience.

There are just too many players in the market that are thus seen scurrying to take up the coveted space, and thus, it comes as no surprise to anyone that the market would grow at a decent CAGR (Compound Annual Growth Rate). It would create some very lucrative growth opportunities, pulling up the market worth by a good amount.

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But, it is important to note here that at present most of the brands present at airports include readily recognizable brands, that are also usually high-end. But as competition for limited spaces increases, one can also find brads that are new and upcoming such as sweet shops and coffee shops.

It is also pertinent to make note of the fact that these outlets depend on promotions and better tourism in the towns they are located in. But, as jet fuel prices fall and people experience a better standard of living with rising disposable incomes, the global airport retailing market would see higher growth trajectory.

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And, due this reason, there has been a rise of airports observed in even smaller towns, to cater to manifestations of growing aspirations of more middle class people, now able to afford more flights than ever. This also particularly true of the Asia Pacific region. Here the developing economies are presenting with great untapped growth opportunities. At present some of the key players in the global airport retailing market include Some of the chief players in the airport retailing market are World Duty Free Group, Dubai Duty Free, Duty Free America, Gebr. Heinemann, Dufry, and Autogrill. 

Increasing Retail Promotion in Airports Fillip Airport Retailing Market

Airport retailing is mainly the presence of several retail services of various products inside the airports. The existence of retailers inside the airports is aimed at providing enhanced convenience to the travelers. Such retailers deliver a wide variety of merchandizes which are comparatively easy choice for travelers.

Many aviation industries depend on various non-aeronautical businesses for improving their revenue index. These non-aeronautical businesses include duty-free retail shops, advertisements, restaurant bars cafeterias, catering services and many more. Various aviation firms have realized the importance of having retail shops, thus, they consider it as a key contributor for generating their revenues at a high extent.

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Airport retailing has witnessed a steady rise across the airports over the past couple of years in developed as well as developing regions. Airport retailing needs multiple characteristics for better functioning. For instance, a retail shop needs to be located at a convenient location of the airport for efficient accessibility.

Going forward, the global airport retailing market is gaining traction due to the availability of wide range of products at minimum prices.

Rising Tourism Worldwide to Boost Airport Retailing Market

Increasing retail promotion in various airports and growing tourism are majorly fueling growth in the global airport retailing market. The global airport retailing market is gaining momentum, owing to its convenient and feasible services to customers. The delivery of services and goods in airport will vary depending on the travelers’ types and the manner in which airport manages international and domestic passengers. Such strategies are majorly boosting the global airport retailing market.

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Furthermore, the global airport retailing market is witnessing significant growth due to the increasing budget of the air travelers and aviation industries. Such factors are expected to foster growth of the global airport retailing market. Along with this, rapid expansion of multinational retailers and increasing disposable incomes are also majorly driving the global airport retailing market.

Airport Retailing Market Current Outlook by 2025

Global Airport Retailing Market: Snapshot

Airport retailing is basically the presence of many retail services of many products inside the airport for providing enhanced convenience to the people travelling. Airport retailing also delivers a broader variety of merchandizes and is a comparatively easy choice for travelers. As many retailers tend to think that airport retailing is just strategy diversification and market expansion. However, this kind of thinking is expected to lead to negative results related to the perception of airport business as the brands that are found in the airport are of high quality and are considerably the high-end ones.

The factors that are expected to drive the growth of the market are rising retail promotion in airports, availability of products at low prices, and rising tourism. The market players can further gain from the rising customer airport experiences and fall in jet fuel prices. However, factors such as the prevalence of downtown retail stores, strict government regulations and rules and rising political unrest.

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In the last couple of years, airport retailing has witnessed a substantial rise across airports not only in developed regions but also in developing regions. In the last few years. Europe has seen a substantial rise in airport retailing owing to inexpensive air fare and rise in tourism. Furthermore, the growing disposable income of people in the Asia Pacific region and their inclination towards luxurious lifestyle is further expected to trigger the growth of the market in the region.

Global Airport Retailing Market: Overview 

Airport retailing is referred to as the availability of retail services of various products within the airport in order to provide greater convenience to travelers. Airport retailing provides a wider variety of products and is an easy option for travelers. With value customer services as the top priority in the aviation industry, airport retailing is expected to gain momentum over the coming years owing to its feasible services to customers. The provision of goods and services in airports will vary depending on the type of travelers such as business travelers or vacationers and on the manner in which the airport manages domestic and international passengers. It is also subject to the economic, geographic, and demographic specificity of the location of the airport. In addition to the regional feature, airports retailers are also required to meet the unique and specific shopping patterns and needs of air passengers such as speed of the service, convenience, store layout, cleanliness and appearance, and product quality and variety.

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Many retailers assume airport retailing just as a market expansion and diversification strategy. However, this perception is likely to lead to negative results if the environment of the airport is not seriously taken into consideration. The quality business proposals in the airport are the ones which comprise a considerate and thorough evaluation of the product and how it visually appeals to the consumer.

The market intelligence publication delves into the possible growth opportunities for the global airport retailing market and the chronological growth of the market throughout the forecast period. It also uniquely provisions required data related to facers such as dynamics influencing the progress in all possible retrospective manner. Several ubiquitous and non-ubiquitous trends have also been mentioned in the study. An outlook of extensive nature keeping in mind the Porter’s five forces analysis has been provided to make the vendor landscape transparent to the reader. The report further reaches out to point out accomplishments related to R&D, acquisitions, mergers, and crucial partnerships and verifications. The companies in limelight have been analyzed on market shares, products, and key strategies.

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Global Airport Retailing Market: Trends and Opportunities 

The global market for airport retailing is projected to expand at a significant rate over the next couple of years owing to the growth in the tourism sector, rising income of the middle class across the globe, and easy accessibility of brands. By type, the global airport retailing market can be segmented into supermarkets, specialty retailers, department store, and direct retailer. The segment of direct retailer has been estimated to lead the market in the coming years accounting for the leading market share until 2025. Stores such as Levi’s, Hugo Boss, and Lacoste are known for generating maximum revenue. In terms of airport size, large airports are expected to emerge dominant in the global airport retailing market.

The global market for airport retailing is expected to grow tremendously owing to the rising promotional activities by companies and individual brands and incessantly growing passenger traffic. Retailing has turned out to be the leading source of income for airports across the globe. This can be attributed to the rise in the number of air travelers and enhanced duty-free shopping experience. The market for global airport retailing is also expected to be driven by the growing demand for local destination products.

Global Airport Retailing Market: Regional Outlook 

Over the last couple of years, Europe has witnessed immense progress in the market for airport retailing owing rising investments in retail services in airports, feasible air fares, and upsurge in tourism. Moreover, due to several projects in pipeline such as refurbishments, renovation of current airports, and expansion and development of new terminals, the market is expected to witness tremendous growth. Owing to development of high-end airports in countries such as China and India, Asia Pacific is likely to grow at a significant rate.

Global Airport Retailing Market: Companies Mentioned in the Report 

Some of the chief players in the market are World Duty Free Group, Dubai Duty Free, Duty Free America, Gebr. Heinemann, Dufry, and Autogrill.

Airport Retailing Market to be driven by Growth of Direct Retailing

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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