This market research report includes a detailed segmentation of the duty-free retailing market by product type (fashion accessories, perfumes and cosmetics, wines and spirits, tobacco, and confectionary and fine food) and by distribution channels (airports, ports and railway stations, and airlines and ferries). It outlines the market shares for key regions such as the Americas, APAC, Europe, and MEA. The key vendors analyzed in this report are DFS, Dufry, Lotte, Lagardère, and The Nuance Group.
Technavio’s market research analysts estimate the global duty-free retailing market to grow at a CAGR of 9% between 2015 and 2019. The increase in international travelers through flights is the primary driver for the growth of this market. This market is predominantly driven by airports segment, with a market share of 61%. APAC dominates the global market for duty-free retailing, occupying around 38% of the total market share. South Korea, China, Hong Kong, Singapore and Thailand are the key countries that are driving the sales in this market, thanks to the increasing number of outbound tourists in these nations.
The new market research report from Technavio provides a breakdown and analysis of the duty-free retailing segments by technology.
“The introduction of wireless-enabled kiosks has allowed passengers to buy anytime from wherever they are standing. These kiosks are available even outside the duty-free shops and can be found anywhere in the entire airport space. Many airports are giving more space for duty-free shops because the revenue generated from such stores is growing significantly,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
The fashion, accessories, and hard luxury segment dominates the global duty-free retailing market, accounting for 32% of the total market share. This segment is anticipated to retain its market dominance until the end of 2019, growing at a rate of 11%. Precious jewelry, briefcases, handbags, and shoes are the key driving products in this category. Some of the popular brands in this segment are Michael Kors, Armani, Fossil, Gucci, and Burberry.
The leading vendors in the global duty-free retailing market include DFS, Dufry, Lotte, Lagardère, and The Nuance Group. The market is dominated by more than 20 big retailers. Key players like DFS and Lotte are tapping the opportunities provided in growing regions such as South Korea and China.
A more detailed analysis is available in the Technavio report, Global Duty-free Retailing Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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