Global Airport Retailing | Verdict Channel Report
NEW YORK, Jan. 18, 2018 /PRNewswire/ -- Summary
After two years of slowing growth due to a weak global economy, we forecast that airport retail sales will gain momentum in 2014 and grow by 7.7%. More passengers and higher levels of spend per passenger, as the economy improves, the BRIC countries strengthen and MINT nations emerge. The future prospects for the channel remain buoyant, with growth improving every year to 11.0% in 2019.
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Key Findings
- Forecasts of global and regional sales, passenger numbers, spend per passenger and sector spend up to 2019 to enable opportunities to be identified.
- Briefings on the 10 main players in the airport sector, with market shares up to 2014, coverage of recent key events and what it means for the market.
- An analysis of the major trends within the airport sector, how it will affect it operators and if a potential threat, how it can be overcome.
Synopsis
While all sectors are set to achieve robust growth over the next five years, the best performing ones will be beauty products and alcohol. Beauty products will be supported by new products stimulating demand and a reluctance by customers to cut back. The ability to not pay tax or duty on alcohol at an airport will support this sector up to 2019.
The growth of low cost carriers (LCC) continues, and accounted for 24.8% of all air traffic in 2012. This growth tends to suppress airport spend as these shoppers are either ineligible for duty free or have little appetite for it. With more long haul flights for LCC's planned, retailers must adjust their offer to serve these customers.
Dufry is set to retain top spot in the airport market in 2014 with a share just under 10%. The company has been driven by acquisitions, such as the complete acquisition of Hellenic Duty Free in 2013, and significant expansion plans within Europe, Middle East and North America, with new stores set to open in Dallas, JFK in New York, and Brazil.
Reasons To Buy
- Which regions and sectors are set to outperform the market over the next five years? What factors are behind this performance?
- How will online and multichannel retail affect the airport retail market?
- Which companies are set to gain share in 2014 and who is set to fall back?
Read the full report: https://www.reportlinker.com/p03468637
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