Shopping is a subsidiary of travelling, which can be a part of travelling or main objective of travelling. Tourists often look for exciting opportunities of shopping while travelling. In some tourist places, local authorities provide special shopping opportunities to tourists for shopping goods. They provide shopping facilities to travelers at minimum rates and at specific stores. Local arts, crafts, printed materials, souvenirs, clothes, and food items are some of widely purchased goods while travelling. The shopping activity has changed vividly over decades with major importance to the tourists and more than that to the sellers. One of the principal individuality in this change is represented by the consumers behavior in leisure shopping as a response to the increase in role of leisure in general, the stressful day to day life, the international trends in shopping, leisure, and tourism. Moreover, shopping tourism contributes significantly in overall tourism market revenue.
As the shopping tourism market gains popularity, various companies and tourism authorities establish their outlets and stores at tourist places, airports, and bus & railway stations to provide tourists special services. Duty free shops are located at various places especially for tourists to provide them certain goods excluded from some local or national taxes and excise duties. World travel retail market is primarily driven by various factors such as increase in medium class population, change in consumer lifestyle, and attractiveness of environment. Unawareness of customers, unorganized local markets, and threat from scams are some restraints that restrict the market growth. Strict government policies and involvement of large market players are capable of reducing the effect of these restraints. Increase in popularity of international tourism and an emerging middle class in developing markets provides lucrative opportunities for the world travel retail market.
The travel retail market is segmented on the basis of product, location, and geography. The product segment is classified into beauty, wines & spirits, fashion & accessories, tobacco, watches & jewelry, electronics & gifts, and confectioneries & fine foods. The report also analyses market by location of these stores, which includes airports, ferries & cruises, airlines, and others. Based on geography, the world travel retail market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America is divided into the U.S., Mexico, and Canada, whereas Europe is further segmented into UK, Russia, Germany, and rest of the Europe. The countries covered under Asia-Pacific are China, India, Japan, and rest of Asia Pacific. LAMEA includes Latin America, Middle East, and Africa.
Major companies profiled in the report include DFS Group, Dufry, LS travel retail, Lotte Duty Free, Autogrill Travel Retail & Duty Free, Gebr Heinemann, The Naunace Group, The Shilla Duty Free, Dubai Duty Free, and Ever Rich Group.
POTENTIAL BENEFITS FOR STAKEHOLDERS
- Comprehensive analysis of the current and future trends in the world travel retail market are provided in this report.
- The report provides a competitive scenario of the world travel retail market with current and future growth trends, structure, driving factors, scope, opportunities, and challenges.
- The report includes a comprehensive analysis of market segments to provide insights on the market dynamics.
- Porters Five Forces analysis highlights the potential of buyers and suppliers as well as provides insights on the competitive structure of the market to devise effective growth strategies and facilitate better decision-making.
- Value chain analysis provides key inputs on the role of stakeholders involved at various stages of the value chain.
- SWOT analysis of the key market players highlights their strengths and weaknesses along with potential opportunities present in the market.
TRAVEL RETAIL MARKET SEGMENTATION
The world travel retail market is segmented on the basis of product, retail hub and geography.
- Wines & Spirits
- Fashion & Accessories
- Electronics & Gifts
- Confectioneries & Fine Foods
By Retail Hub
- Ferries & Cruises
- North America
- Rest of the Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
- DFS Group
- LS travel retail
- Lotte Duty Free
- Autogrill Travel Retail & Duty Free
- Gebr Heinemann
- The Naunace Group
- The Shilla Duty Free
- Dubai Duty Free
- Ever Rich Group