Description
Duty-free shops, also acknowledged as stores, are generally retail outlets that are exempt from the payment of national or local duties and taxes. The goods are sold to the travellers without the implementation of tax on the products.
Duty-free retailing comprises products like accessories and fashion apparels, electronics, hard luxury goods, perfumes, tobacco, wines and spirits, fine foods, and confectionaries.
Premium product offerings play a major role in determining the overall sales of duty-free retailing. This is further estimated to influence a hefty number of international players in order to improve their sales and introduce latest range of high-end brands to their product portfolio. This is likely to spur the growth of the duty-free retailing market across the globe. The exemption of customs and excise on the products which are sold in the duty-free shops at airports, international borders, and cruise lines lowers their prices compared to other retail formats, which makes these products affordable to a large population base. These factors are likely to trigger the demand from the duty-free retailing market during the assessment period.
Moreover, the surging focus on digitalizing the retailing procedure, so that companies can increase their profit margin, will boost the sales in the global market. The soaring demand for retail chains offering high-end and premium brands of several products will augment the duty-free retailing market during the anticipated timeframe.
Key Players Covered (Price, Sales Revenue, Main Products, Gross Margin etc.): Lagardère Travel Retail, Dufry, Lotte Duty Free, LVMH, Aer Rianta International (ARI), China Duty Free Group, Dubai Duty Free, Duty Free Americas, Gebr. Heinemann, JR/Group (James Richardson), King Power International Group (Thailand), The Shilla Duty Free
Request for Sample Report @ https://www.wiseguyreports.com/sample-request/3872843-global-duty-free-retailing-market-analysis-2013-2018-and-forecast-2019-2024
Segmental Analysis
The global duty-free retailing market has been segmented on the basis of type and application.
By type, the duty-free retailing market is segmented into cosmetics, perfumes, cigarettes, alcohol, and others. Of these, the segment for cosmetics and perfumes are likely to garner the major share due to the high value and demand for accessories and fashion apparels among consumers.
The application segment of the duty-free retailing market comprises seaports, airports, onboard aircraft, train stations, and others.
Regional Insights
Geographically, the duty-free retailing market spans across Asia Pacific, North America, Europe, South America, and the Middle East & Africa.
Considering the global scenario, the Asia Pacific is considered to acquire a substantial chunk of the global market. The regional growth can be majorly accredited to the increasing number of new air routes coupled with the inclusion of LCC carriers. The increasing consumption size paired with the purchasing power across India and China will provide a tailwind to the growth of the duty-free retailing market in the estimated timeframe.
The surging preference for value-added and differentiated products will further elevate the desire to travel among people, thereby propelling the market demand in the region. Moreover, introduction of cheap destination travel packages and adoption of latest lifestyles by companies like Cleartrip, MakeMyTrip, and GoIbibo are likely to trigger the demand from the duty-free retailing market over the forecast period. Also, proliferation of digitalization and social media on the economy will generate lucrative growth opportunities for the vendors operating in the APAC.
Industry News
November 2019: L’Oréal Travel Retail and Qatar Duty Free (QDF) have recently inked a partnership to launch a luxury Beauty Avenue right at the centre of the retailer’s south shopping plaza, which is located behind the Lamp Bear at Hamad International Airport (HIA). The avenue comprises of four of global beauty brands such as, Giorgio Armani, Lancôme, Yves Saint Laurent, and Helena Rubinstein.
Continued…
Leave a Query @ https://www.wiseguyreports.com/enquiry/3872843-global-duty-free-retailing-market-analysis-2013-2018-and-forecast-2019-2024
Contact Us: Sales@Wiseguyreports.Com Ph: +1-646-845-9349 (Us) Ph: +44 208 133 9349 (Uk)
Media Contact
Company Name: Wiseguyreports.com
Contact Person: Norah Trent
Email: Send Email
Phone: +1 646 845 9349, +44 208 133 9349
City: Pune
State: Maharashtra
Country: India
Website: https://www.wiseguyreports.com/sample-request/3872843-global-duty-free-retailing-market-analysis-2013-2018-and-forecast-2019-2024