Global Fashion Duty Free Retailing: Market Dynamics and Forecasts, Retail Trends and Competitive Landscape
NEW YORK, Aug. 31, 2017 /PRNewswire/ -- Global Fashion Duty Free Retailing: Market Dynamics and Forecasts, Retail Trends and Competitive Landscape
Read the full report: https://www.reportlinker.com/p05089159
Summary
Duty free channel is attracting fashion retailers because of its growth opportunities. The large increase in international travelers, boosted by the growth of low cost airlines, and new air routes across the world, is being exploited by the expansion of more duty free retail space offering greater opportunities for travelers to spend.
Global fashion duty free sales grew at a CAGR of 3.2% during 2011-2016. Rising passenger traffic at major airports, more retail space, and more fashion brands expanding into the duty free channel will drive growth over the next five years. The global fashion duty free market is predicted to grow at a robust CAGR of 7.6% till 2021, adding US$4.4 billion in sales value.
Tourism growth is largely being boosted by increasing low cost airline options and increased air routes across the world, but also via cruise ships, which, with downtown duty free stores, is expanding access to duty free products. Moreover, fashion duty free stores are improving their retail environment by introducing more international brands, and affordable price points to attract all spending levels
Duty free sales in clothing are being driven as much by supply as demand. Clothing retailers and brands are looking for new ways to reach consumers and travel retail is ideal as it delivers a constantly changing supply of consumers who are often in the mood for spending as they are on holiday and looking for ways to kill time while waiting to travel. There are more mass market retailers opening stores in travel locations with a wider variety of price points to appeal to all budgets.
Similar to clothing duty free market, Asia-Pacific is the fastest growing region in the global footwear duty free sales as well. South Korea is the largest market, whereas India is expected to grow fastest followed by China, Japan, South Korea and Indonesia. Global footwear duty free sales are expected to reach $372 million by the end of 2021.
Jewelry, watches & accessories, with its high price points, is the largest category in the global fashion duty free market with Asia-Pacific again being the fastest-growing region.
The report "Global Fashion Duty Free Retailing" provides analysis of current and forecast market data for fashion duty retail sales across the globe.
In addition the report offers -
- Current market sizes and forecasts to 2021 by country and category; covers 50 countries and 4 categories, including clothing, footwear, jewelry, watches and accessories, and luggage and leather goods
- Market insights based on consumer trends and changing economic and demographic factors on a regional and country basis
- International arrivals by country and top 10 source countries for international arrivals in top 20 countries
- Fashion retail sales and fastest-growing markets for duty free channel
- Category level retail sales and forecast growth rates for each country
- Competitive landscape covering market share of major fashion duty free operators across the and their five year duty free sales and trading update analysis, recent key events.
Companies included within the analysis are LVMH, Burberry, Hugo Boss, Victoria's Secret, Michael Kors, Ralph Lauren, Calvin Klein, Tommy Hilfiger
Scope
- South Korea should remain the largest market for fashion duty free sales in 2021
- Fashion duty free operators exploring new growth opportunities and entering new markets
- Jewelry, watches and accessories is the largest category by spend in fashion duty free stores globally
- Asia-Pacific is the fastest-growing region in fashion duty free sales
- Chinese travelers to drive global duty free sales; however, growth to slow down amid economic uncertainty
- Expansion of low cost airlines resulting in increased travel
- Digital duty free gaining popularity among travelers
- Cruise and inflight retail offer high growth potential for duty operators
- Duty free growth in key markets is marred by terrorism, and economic and political instability
Reasons to buy
Get immediate access to -
- Reliable fashion duty free retail sales data on 50 countries for 2016 with forecasts for 2021 with information on largest and fastest-growing markets to inform market expansion and to manage risk
- Explore an in-depth analysis of fashion sub-category duty free retail sales data for major markets to identify target categories/ country, and develop growth plans
- Learn from fashion duty free retail trends and market drivers to customize your entry/expansion approach depending on the duty free retail landscape
- Choose partners, understand the competition, with data and analysis of major fashion duty free retailers, including market shares, trading performance, locations, travel retail strategy for each
Read the full report: https://www.reportlinker.com/p05089159
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