Expect to see more sophisticated use of how retailers deliver brand values through design, customer service, and sensory experience. Retail store at airports are duty-free; this typically Airport retailing that these stores are exempted from payment of local or national taxes.
Regional markets, technology, types, and applications. Airport retailers have the opportunity to make the journey less of a process, and more of an experience. In order to Airport retailing compete in the market and create value proposition, retailers are engaged in extensive research to collect data related to flight schedules, number of passengers in the flight, and location.
New partnerships, such as the collaboration between Fraport, Lufthansa and Heinemann that seek to deliver more convenience for customers, suggests a step change forward for both on-board retail and collaborative stakeholder partnerships at airports to better serve the airport customer.
Owing to development of high-end airports in countries such as China and India, Asia Pacific is likely to grow at a significant rate. Concepts such as The Store, a hybrid retail space beneath Soho House in Berlin, combines the best of commerce, hospitality, and lifestyle.
By type, the global airport retailing market can be segmented into supermarkets, specialty retailers, department store, and direct retailer. Furthermore, the growing disposable income of people in the Asia Pacific region and their inclination towards luxurious lifestyle is further expected to trigger the growth of the market in the region.
Owing to rising competition among global players for offering low airfares and diversifying sources for generation of revenue, the focus has shifted towards non-aeronautical sector for constant growth in this market. In addition, increasing investments for expansion of airport retailing along with growth in the tourism sector are expected to contribute to the global market growth in the next few years.
Europe has seen a substantial rise in airport retailing owing to inexpensive air fare and rise in tourism. Below is a quick snapshot of the major trends shaping the airport retail environment. Retail stores can avail various benefits by establishing an outlet at an airport.
Thus, travelers can buy products available in these stores at cheaper rates. In the last couple of years, airport retailing has witnessed a substantial rise across airports not only in developed regions but also in developing regions.
Growth in the tourism industry, affordable airline prices, and the global rise of disposable incomes are some of the major factors driving this market.
Global Airport Retailing Market: Retailing has turned out to be the leading source of income for airports across the globe.
So, to maintain and grow customer conversion and spend, the airport retail proposition needs to adapt. Aviation industries have realized the importance of retail business and consider it as the key contributor so as to sustain in the industries.
The type segment comprises food and beverages, pharmacy products, electronic products, arts, and fashion and accessories. Market segments and sub-segments. As many retailers tend to think that airport retailing is just strategy diversification and market expansion.
In addition, expansion of multinational retailers and rising number of terminals are other factors that are expected to enhance the global airport retailing market.
Specialty retailer type is expected to grow at the highest CAGR during the forecast period. The study presents reliable qualitative and quantitative insights into: What can we expect from airport retail in the next 12 months?
Request Report Methodology Airport retailing has become a popular concept in the last few years. The market players can further gain from the rising customer airport experiences and fall in jet fuel prices. Trends and Opportunities The global market for airport retailing is projected to expand at a significant rate over the next couple of years owing to the growth in the tourism sector, rising income of the middle class across the globe, and easy accessibility of brands.
Snapshot Airport retailing is basically the presence Airport retailing many retail services of many products inside the airport for providing enhanced convenience to the people travelling. Regional Analysis Europe is the largest market in the airport retailing market owing to immense growth opportunities in the airport retailing market.
The segment of direct retailer has been estimated to lead the market in the coming years accounting for the leading Airport retailing share until These retailers offer specialized products, such as furniture, cosmetics, fabrics, among others. It is here they have the most to learn from the high street in terms of pushing boundaries around concepts and innovation.
In addition to the regional feature, airports retailers are also required to meet the unique and specific shopping patterns and needs of air passengers such as speed of the service, convenience, store layout, cleanliness and appearance, and product quality and variety.
The quality business proposals in the airport are the ones which comprise a considerate and thorough evaluation of the product and how it visually appeals to the consumer.Airport retailing has become a popular concept in the last few years. Often called travel retail (which takes place mostly but not entirely in an airport), it has become one of the important strategies of companies planning to promote and Location: State Tower, 90 State Street, SuiteAlbany, The Airport Retailing industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Airport Retailing market size.
Varna Airport serves not only as an aviation platform but also as a multifunctional location with highly attractive retailing opportunities. With the opening of the new passenger terminal Varna Airport now offers attractive retail areas, unique food and beverage outlets, as well as comfortable open spaces.
Global Airport Retailing Market: Growth Factors. The global airport retailing market is experiencing significant growth owing to increasing budget of the aviation industries and air travelers, which in turn may foster the growth of the global market in the coming years. "Global Airport Retailing " provides the details about international travel retail market.
It includes airport travel retail sales at airside as well as landside, number of travelers by year & region and spendings of travelers at airports & its growth.
The airport retailing market, by type is segmented into direct retailer, department store, specialty retailer, and supermarkets. Specialty retailer type is expected to grow at the highest CAGR during the forecast period.Download