The comprehensive Travel Retail Market research report, which provides the best experience for the business and the user, is produced using the most sophisticated tools and processes. The market state, market share, growth rate, sales volume, potential and challenges, market drivers, market restraints, revenue generation, risks and entry barriers, sales channels, and distributors are all assessed in this market analysis. This market study may provide a wealth of knowledge and practical business solutions to help you keep one step ahead of the competition. The Travel Retail Market Analysis Report's competitive landscape section offers a comprehensive understanding of the market share analysis and strategies employed by major industry participants.
The successful Travel Retail Market research provides a thorough explanation of the product type, technology, specifications, and production analysis, taking into account important variables like gross margin, cost, and revenue. In addition, the Porter's Five Forces analysis is used to examine the market status, market share, growth rate, prospects and challenges, opportunities and obstacles, risks and entry barriers, sales channels, and distributors in this industry study. Therefore, this report's clear, reliable, and comprehensive market information and statistics will undoubtedly aid in business development and increase return on investment (ROI). SWOT analysis has been used to provide a detailed description of the market's drivers and constraints.
Explore Further Details about This Research Travel Retail Market Report https://www.databridgemarketresearch.com/reports/global-travel-retail-market
A retail channel is known as "travel retail" caters to international travellers. It has a big income potential and a variety of marketing alternatives. The worldwide aviation, travel, and tourism industries depend on duty-free and travel retail to generate significant revenues. The number of travellers from outside has caused the travel retail sector to grow significantly in recent years.
Data Bridge Market Research analyses that the global travel retail market which was USD 61.41 Billion in 2022, is expected to reach USD 176.27 Billion by 2030, and is expected to undergo a CAGR of 14.09% during the forecast period of 2023 to 2030. The Perfume and Cosmetics segment is expected to dominate the market globally due to its versatility. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
Market Definition
The global travel retail market, also known as duty-free or travel-exclusive retail, refers to the sale of goods and services to international travellers at designated locations such as airports, seaports, train stations, and border crossings, this sales channel includes sales to clients who are travellers and sales of items that have not had taxes or excises imposed on their sale prices. Travel retail is a retailing outlet that sells goods to visitors from other countries. It has several marketing opportunities and is a significant source of cash.
Drivers
- Offers a Unique Shopping Experience
Travel retail offers a distinct shopping experience for travellers. It provides a combination of convenience, variety, and exclusivity. Duty-free stores often feature a wide range of products, including luxury goods, cosmetics, fragrances, electronics, and alcohol. The opportunity to shop for premium products at tax-free or reduced prices, along with the novelty of exclusive items, attracts shoppers.
- Rising Number of International Travelers
The rising number of international travellers is a significant driver for the travel retail market. As more people travel for leisure, business, or other purposes, they have the opportunity to shop at duty-free stores located in airports, seaports, train stations, and other travel hubs. The growing travel population provides a larger customer base for travel retail outlets.
Opportunity
- Emerging Markets and Infrastructure Development
The expansion and development of transportation infrastructure, such as new airports and travel hubs, contribute to the growth of the global travel retail market. Emerging markets with a rising middle class and increased air travel provide growth opportunities for the industry.
Global Travel Retail Market Scope
The global travel retail market is segmented on the product, sector, distribution channel and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Perfume and Cosmetics
- Wine and Spirit
- Electronics
- Luxury Goods
- Food
- Confectionery and Catering
- Tobacco
- Others
Distribution channel
- Airport
- Cruise Liner
- Railway Station
- Border
- Downtown
- Hotel Shop
Sector
- Duty-Free
- Duty-Paid
End user
- Children (less than 18 years old)
- Youth (18-30 years old)
- Middle-aged (18-59 years old)
- The Elder (greater than 60 years old)
Some of the major players operating in the global travel retail market are:
- KING POWER International. (Hong Kong)
- Aer Rianta International (Ireland)
- DFS Group Ltd. (Hong Kong)
- Dubai Duty Free. (U.A.E.)
- China Duty Free Group Co.,Ltd. (China)
- Heinemann SE Co. KG (Germany)
- Duty Free Americas, Inc. (U.S.)
- HOTEL SHILLA CO., LTD. (South Korea)
- (India)
- R. GROUP (India)
- Qatar Duty Free (Qatar)
- 3Sixty Duty Free (U.S.)
- Dufry (Switzerland)
- Lagardere Group (France)
Key Insights Of Travel Retail Market Report
- The report comprises a detailed analysis of different segments and offers market valuations between 2023 to 2030.
- This study presents the analytical depiction of the Travel Retail Market with the current trends and future estimations to determine the imminent investment pockets
- The report also reveals information with respect to key drivers, restraints, and opportunities coupled with a comprehensive analysis of the global Travel Retail Market
- The forecast period of the Travel Retail Marketis assessed from 2024 to 2030 to highlight the Travel Retail Market growth scenario.
- Porter’s five forces analysis establishes the effectiveness of the buyers and suppliers in the business line.
- The key players in the industry are profiled to gain an understanding of the strategies adopted by them.
- This report provides the current trends and future estimations during the forecast period, which in turn aids in identify the prevailing market opportunities.
The company portfolio includes company synopsis, operating business sectors, business overview, product/service categories, and recent growth strategies adopted by them.
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