Airport Retail Market Trends and Analysis by Region, Sales, Innovations, Tourism and Competitive Landscape and Forecast to 2027

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Airport Retailing Market Overview

The airport retailing market size was valued at US$33 billion in 2022. The market is projected to grow at a CAGR of more than 17% during the period 2019-2027. Significant growth in low-cost airlines, cheaper air fares in these countries, and rising middle-class incomes will drive airport retail sales in this region. Modern-day young consumers, millennials and gen-Z, in these countries are much more open to spending on discretionary expenditure and impulse purchases than their predecessors. The airport retailing market research report provides an overview of the Global Airport Retailing which includes Market & Category Expenditure and Forecasts, Trends, and Competitive Landscape.

Airport Retailing Market Outlook, 2022-2027 ($ Billion)

Airport Retailing Market Outlook, 2022-2027 ($ Billion)

 

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Airport Retailing Market Drivers

Retail sales at airports were adversely impacted in 2020 and the first half of 2021 due to the global shutdown of airports because of government-imposed lockdowns during the COVID-19 pandemic. As consumers attempted to make up for two years of missed travel possibilities, global airport retailers are registering the long-anticipated rise in footfall with the relaxation of numerous border restrictions. Almost all markets are showing signs of growth in air traffic. Given the high levels of population immunity and the standard methods for disease surveillance, increased travel is manageable.

Furthermore, airport retailers are being encouraged to offer delivery services due to the increasing attention being paid to enhance consumer convenience and their shopping experience. For instance, Frankfurt Airport’s merchants offer home delivery services to travelers who make purchases through the airport’s online shopping portal. Airport retailers can provide greater convenience to customers by offering a choice of delivery options by integrating similar online purchasing possibilities. This also helps consumers shop for their desired airport goods even on strict schedules for flight departures.

Airport Retailing Market Trends

In order to attract more consumers to airport stores, it is imperative to provide consumers with enough time inside the airport for them to browse and shop. One way of doing this can be to provide faster and more efficient security checks. During the pandemic, consumers had to wait in lengthy queues for COVID-19 tests. Airport authorities introduced technological improvements at the airport to make traveling safer and easier with minimal contact. One such addition was biometric check-in systems. Since then, biometrics are being accepted by more and more passengers.

Even though robotic technology is not new to airport retailing, travel trends are expected to continue to accelerate its development. Robots are becoming more common at airport terminals to enhance the client experience and provide faster fulfillment. Robots will be able to provide passengers with more helpful information as AI technology develops, and they will also give airport managers and airlines additional operational benefits. As technology further develops, robots can be used to complete tasks like cleaning, health checks, and security checks.

For instance, in January 2023, a tech startup named ‘Ottonomy’ introduced a fleet of completely autonomous delivery robots known as ‘Ottobots’ in the Consumer Electronics Show (CES) 2023. A prototype of the robot has already been under trial at the Cincinnati International Airport (CVG) since December 2021. Passengers can use these ‘Ottobots’ to request contactless deliveries that are delivered by the robot to their position in the ‘Concourse B’ section of the Cincinnati airport. Customers in the airport who wish to purchase any offerings from these bots can do so using a smartphone app. These robots can deliver a variety of products such as food, drinks, and travel accessories.

Airport Retailing Market Segmentation by Regions

Some of the key regions in the airport retailing market are APAC, Europe, Americas, and MEA. In 2022, APAC is the fastest growing region. Europe is anticipated to be the second fastest-growing region in airport retailing market. However, the current conflict in Russia and Ukraine poses a danger to airport retail sales throughout Europe. Moreover, high inflation in Europe has extended to a worldwide crisis, dampening spending on non-essentials.

APAC: Favorable demographic profiles, strong economic growth, consumer desire to travel, and continued investment in airport infrastructure will support a rise in passenger numbers and airport channel growth. Turmoil in Europe may mean that more APAC tourists stay within the region rather than visit Europe.

Europe: Europe’s airport retail sales growth in 2022 was boosted by airport expansion, new services in airport retail space to pull more passengers into their stores, and the return of travelers, post vaccinations. However, sales are not expected to exceed pre-pandemic levels until 2024, when its main spenders – Asian, and especially Chinese, tourists – will be traveling without restrictions. Rising inflation is causing consumers to spend less on non-essential and luxurious facilities, thereby hampering growth. Also, the EU has closed its airspace to all Russian airlines and Russian-owned/operated aircraft, and airlines are not flying over Ukraine which adds travel time and costs.  The conflict will deter travelers across the region until peace is restored.

Americas: The lifting of travel restrictions and people returning to normalcy in traveling and vacationing boosted airport revenues in the Americas in 2022. Passenger numbers in the region are expected to climb more than 9% by 2023, returning to pre-pandemic levels. The US and Canadian governments prohibited Russian planes from their airspace, as part of a broader push by the West to punish Russia for its actions in Ukraine.

MEA: MEA duty-free sales, which are primarily dependent on tourist and religious trips, were low for the majority of 2021, until it gradually returned to normalcy in 2022. The minor increase in sales in 2022 can be attributed to improving circumstances in the UAE and a rapid turnaround of tourism through cultural events such as the Dubai Expo, which was held from October 1, 2021 to March 31, 2022. Also, major Gulf countries have been aggressive in reforming their economies to become less reliant on oil owing to its volatility. This drove them to channel investments into the tourist industry, providing a significant boost to airport shopping.

Airport Retailing Market Segmentation by Sectors

Some of the key sectors in the airport retailing market are beauty, alcohol, confectionery & fine foods, fashion & accessories, electricals, and tobacco. In 2022, the beauty sector dominated the market.

Airport Retailing Market Analysis, by Sectors, 2022 (%)

Airport Retailing Market Analysis, by Sectors, 2022 (%)

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Airport Retailing Market- Competitive Landscape

The key retailers in the airport retailing market are Dufry, China Duty Free Group, Lagardère Travel Retail, Lotte Duty Free, Gebr Heinemann, Duty Free Americas, Dubai Duty Free, DFS, Aer Rianta International, and King Power International. In 2022, Dufry dominated the market.

Airport Retailing Market Analysis, by Retailers, 2022 (%)

Airport Retailing Market Analysis, by Retailers, 2022 (%)

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Airport Retailing Market Report Overview

Market Size (2022) $33 Billion
CAGR (2019-2027) >17%
Forecast Period 2020-2027
Historical Period 2017-2019
Key Regions APAC, Europe, Americas, and MEA
Key Sectors Beauty, Alcohol, Confectionery & Fine Foods, Fashion & Accessories, Electricals, and Tobacco
Key Retailers Dufry, China Duty Free Group, Lagardère Travel Retail, Lotte Duty Free, Gebr Heinemann, Duty Free Americas, Dubai Duty Free, DFS, Aer Rianta International, and King Power International

Segments Covered in the Report

Airport Retailing Market Regions Outlook (Value, $Billion, 2017-2027)

  • APAC
  • Europe
  • Americas
  • MEA

Airport Retailing Market Sectors Outlook (Value, $Billion, 2017-2027)

  • Beauty
  • Alcohol
  • Confectionery & Fine Foods
  • Fashion & Accessories
  • Electricals
  • Tobacco

Reasons to Buy

  • Gain a comprehensive knowledge on global airport retail market and develop a competitive advantage
  • Investigate current trends in the global airport retail market to identify the best opportunities to exploit
  • Analysis of key airport retail players operating globally
  • Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the key consumer and technology trends influencing the airport retail market globally
  • Analyze the recommended actions to align your marketing strategies with the crucial trends influencing consumer behavior
  • Analysis of key international players operating in Global Duty Fee retail market — including store counts and revenues that give you a competitive edge and identify opportunities to improve your market share

Dufry
China Duty Free Group
Lagardère Travel Retail
Lotte Duty Free
Gebr Heinemann
Duty Free Americas
Dubai Duty Free
DFS
Aer Rianta International
King Power International

Table of Contents

Executive Summary

Regional Analysis

Regional Sales

Tourism Landscape

Key Trends

Key Retail Innovations

Competitive Landscape

New Opportunities

Appendix

About GlobalData

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